Macron wields 'tools to set EU agenda'

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While France has been pushing for nuclear to be included in the EU’s sustainable finance taxonomy, Germany is in the process of completely phasing out the energy source in the country. The EU’s taxonomy is intended to hand a green badge to companies and activities — or to withhold it — to “help shift investments where they are most needed”. This is part of the bloc’s aim to direct funding towards energy sources with a low or zero carbon footprint.

But this has sparked fury as Germany does not view nuclear power as a form of clean energy.

Mr Macron wants gas and nuclear to be labelled as a “transitional” source under the taxonomy as he claims they are needed for the clean energy transition.

He says that this is because renewables are “intermittent, and thus not totally substitutable, even with our interconnections [in Europe], for non-intermittent sources of electricity production” like gas or nuclear power.

And these calls do not come as much of a surprise, given that 70 percent of French electricity is generated by nuclear power.

Mr Macron has pointed to the verdict from experts on the Intergovernmental Panel on Climate Change (IPCC) to back up his calls.

They claim that “nuclear power is one of the solutions to decarbonise our economies”.

And this seems to have convinced Brussels, as the EU Commission drew up a draft proposal, circulated on 31 December, for this to come into effect.

Subject to a consultation period until Friday (21 January), It gave EU members and others just three weeks to analyse the proposal and provide their own comments.

Germany is strongly opposed to the nuclear plans and has been phasing out nuclear power for over two decades.

It also plans to shut down its three remaining plants at the end of the year.

But it is not Berlin who disapproves of the proposal.

The EU Platform on Sustainable Finance, a European Commission advisory body, has torn the proposal apart.

In an opinion piece, it argued that nuclear power is not an entirely clean energy source, and that fossil gas is “far from green”.

Under the EU’s draft proposal, gas-fired power plants would get a “transitional” investment label if they meet a certain criteria.

That is if they use “at least 30 percent of renewable or low-carbon gases as of 1 January 2026, and at least 55 percent of renewable or low-carbon gases as of 1 January 2030”.

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And as of January 1, 2036, the Commission said all gas-fired power plants would have to “switch to renewable or low-carbon gases” to qualify for the EU’s green investment label.

But under EU rules, no technology can be considered green if it causes “significant harm” to any of the taxonomy’s six environmental objectives.

Those are climate change mitigation and adaptation, water protection, the transition to a circular economy, pollution prevention, and biodiversity protection.

Germany has been kicking up a fuss over the proposals, calling them “risky and expensive” in a letter sent to Brussels.

Vice Chancellor Robert Habeck said in a joint statement with Environment Minister Steffi Lemke: “As the federal government, we have once again clearly expressed our rejection of the inclusion of nuclear energy. It is risky and expensive.”

Germany has also claimed that there is a lack of safety requirements in the nuclear field.

And it argued that the lengthy construction of new reactors “does not offer a short-term opportunity” to phase out carbon-intensive energy sources such as coal.

But while it has poured cold water over nuclear plans, Germany does not seem so opposed to the inclusion of gas.

In the letter sent to Brussels, it reads that gas used in “ultra-modern and efficient gas-fired power plants forms a bridge for a limited transitional period”.

But the German Government did mention that the proposed fuel switch targets to low-carbon and renewable gases laid out by the taxonomy proposal are not realistic.

And Mr Macron is travelling to Berlin today to meet with Mr Scholz.

While the leaders’ meeting will focus on the Russia’s mounting pressure on Ukraine, the energy plans will no doubt be a topic of conversation too.

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