Nuclear power labelled “Green” by the European Union

The following Reuters article touches on the news overnight in the EU where lawmakers voted in favour of labelling nuclear power as “green”.

Read the full article here.

Our key takeaways:

• On Wednesday, the European parliament backed EU rules labelling investments in gas and nuclear power plants as climate-friendly.
• The vote in favour of the proposal means the EU can look to pass the proposal into law. For the proposal not to pass, 20 of the EU’s 27 member states would have to oppose the move.
• The new rules will add gas and nuclear power plants to the EU "taxonomy" rulebook from 2023, enabling investors to label and market investments in them as green.
• EU financial services chief Mairead McGuinness said "The Complementary Delegated Act is a pragmatic proposal to ensure that private investments in gas and nuclear, needed for our energy transition, meet strict criteria".
• Slovakian Prime Minister Eduard Heger said the vote result was good for energy security and emissions-cutting targets.

We are Invested in US based uranium explorer GTI Energy (ASX: GTR) because we think nuclear power has one of the lowest carbon-footprints and highest utility rate of all renewable energy technologies currently available.

We think this, combined with its ability to operate on an almost 24/7 basis, makes nuclear power the ideal source for baseload energy generation.

This is where our exposure to GTR comes into play. With uranium being the primary fuel source for nuclear power, we think it is a critical mineral for a green future.

To see all of the key reasons why we are Invested in GTR and the key objectives we want to see the company achieve in 2022 check out our 2022 GTR Investment Memo by clicking here.