Schulz considers discussion of nuclear energy rating 'exaggerated'

Updated Dec 17, 2021 at 6:51 a.m.

  • Olaf Schultz considers the debate about classifying nuclear energy as an environmentally friendly technology as “overrated”.
  • “This is about evaluating the activities of companies — important for those who want to invest money,” Schultz said.

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Advisor Olaf Schulze He downplayed the month-long debate over classifying nuclear power as an environmentally friendly technology. “The question is completely exaggerated,” Schultz said at a news conference with the French president. Emmanuel Macron After the EU summit on Friday evening. “This is about evaluating the activities of companies – which is important for those who want to invest money.” Schulz said the intensity of the discussion shows that investing money is an important topic. In the end, Schulz said, individual countries have decided which path they want to take in terms of their path to a zero-emissions future.

The background to the new chancellor’s remarks is a months-long discussion about the so-called EU classification, which aims to rank areas of the economy that are considered environmentally friendly. Citizens and investors should receive clear information about sustainable financial products.

France produces a lot of electricity using nuclear power

France produces a significant part of its electrical energy through nuclear fission, and therefore it absolutely wants to include nuclear energy in the classification, but so far Germany opposes it. “We have different models for producing electricity,” Macron said. A classification solution had to be found that would enable both countries to direct private money to their industries. Schulz said Germany and France are in extensive discussions about the design of the classification, including with the European Commission responsible for it.

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The Brussels Authority is expected to introduce the so-called delegated law next week, which could finally clarify the problem. Some gas and nuclear power plants will likely be included in the rating, at least temporarily.

Even if Schulz and Macron act in concert, the discussion over the rating has delayed talks on energy prices, Council Chairman Charles Michel announced at a separate press conference. At the meeting, heads of state and government could not agree on a common line on the sharp rise in energy prices. (dpa/mgb)


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