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| One of the reactors inside the Wolsong Nuclear Power Plant in Gyeongju, North Gyeongsang Province / Yonhap |
By Ko Dong-hwan
Korea has come to a fork in the road, as it seeks to decide whether or not to embrace nuclear energy and natural gas as eco-friendly resources to generate power. The challenge ― under pressure from experts and activists ― on whether to accept or ditch them, came to the fore after the European Union's Taxonomy draft text accepted them under certain conditions earlier this month.
The environment ministry highlighted in a statement released Jan. 3 that the EU Taxonomy was "just a draft and will go through a scrutinizing process within EU institutions before being finalized."
"The draft will require at least four months of discussions among inside agencies before entering enforcement, so we will closely monitor how these unfold and on what kinds of standards and perspectives their decisions are based," said Minister of Environment Han Jeoung-ae.
The statement came after the ministry released its "K-Taxonomy" ― the Korean version of the EU Taxonomy ― last month, which excluded nuclear but accepted natural gas as environmentally friendly power sources. The decision immediately brought a backlash from those on the pro-nuclear side, who said that the country was "going against the global trend." Some said that the country has tilted toward the anti-nuclear movement that, thanks to President Moon Jae-in's like-minded energy policy, has become "some kind of obnoxious cult."
This drew protests from anti-nuclear energy voices, including environmental protection groups such as Greenpeace Korea, who said that those who are against the K-Taxonomy are "trying to hold the country back from taking steps toward carbon neutrality."
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| Environment Minister Han Jeong-ae speaks during the Glasgow Climate Change Conference in Scotland, the U.K., Nov. 4, 2021. Courtesy of the Ministry of Environment |
Minister Han clarified Monday that although the K-Taxonomy has been rolled out, the government is still open to amending it. She said the administration will carefully consider domestic energy-related issues and will keep discussing the country's future direction in terms of its energy mix, and how to react to the EU's definitions for nuclear power and natural gas.
"The EU Taxonomy clearly stated that nuclear power is strictly limited to activities that have a site, a plan and money to safely treat radioactive waste, while harnessing natural gas must be limited to emitting less than 270 grams of greenhouse gases per kilowatt-hour," said the minister, leaving open the possibility that the K-Taxonomy include nuclear power under certain conditions.
In Europe, where the existing energy mix heavily varies from one country to another ― from carbon-intensive coal to carbon-free solar and wind power ― the EU Taxonomy "guides and mobilizes private investment in activities that are needed to achieve climate neutrality in the next 30 years," according to the European Commission, Jan. 1. "Taking into account scientific advice and current technological progress, as well as varying transition challenges across member states, the Commission considers there is a role for natural gas and nuclear power as a means to facilitate the transition towards a predominantly renewable-based future," it said.
The EU's draft text of the Taxonomy Complementary Delegated Act, governed under the Taxonomy Regulation, will be sent to the Commission's co-legislators ― the European Parliament and Council ― within this month, for further scrutiny that may last four to six months. Following that period, the act will then enter into force.
Also known as green taxonomies, these guidelines, whether in the Europe or Korea, are aimed at helping companies and investors to monitor transparency when investing in projects or economic activities that have a substantial positive impact on the climate and the environment. The taxonomy, once enforced, also binds companies and financial market participants to disclosure obligations.
