“Inter-institutional competition” between democracies and dictatorships that began in the Ukrainian War
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(Nobuo Ikeda: Economist, CEO of Agora Institute)
As fossil fuel prices soared during the Ukrainian War, the situation surrounding nuclear power has changed dramatically. On July 6, the European Parliament, which had been debating over the “taxonomy” of decarbonization, approved the EU Commission’s proposal to recognize nuclear and natural gas as “sustainable.” This is not legally binding, but nuclear power will be a viable option for future decarbonization investments.
Last year (2021), the International Energy Agency (IEA), which stated in its “Net Zero” (substantially zero greenhouse gas emissions) report that renewable energy is the leading energy source, doubled its nuclear power generation in 2050 this month. He released a report saying that it was necessary to do so, and predicted “a new dawn of nuclear energy.”
The center of nuclear development has moved to China and Russia
The EU (European Union) has advocated net zero and has set a goal of zero CO2 emissions by 2050. Its leader was Germany, but in the face of the crisis of pipeline disruption in the Ukrainian War, the EU Commission has proposed to include nuclear and gas in sustainable (non-fossil) energy.
This is convenient because gas is a fossil fuel, but it is the EU’s specialty to change the rules of the game if it becomes disadvantageous in the game.
This is not just a matter of power. On June 15th, the “St. Petersburg International Economic Forum” was held in Russia. This is a major event of the Russian government, also known as the “Russia’s Davos Conference,” in which all G7s (seven developed countries) were absent this year, but 127 countries such as China, India and Brazil participated.
It was about 10% less than usual, but all the so-called BRICs participated. While 141 countries agreed with the UN resolution calling for the immediate withdrawal of Russian troops, 35 countries including China and India abstained.
This would be different from the Japanese image that “Russia is isolated due to Western economic sanctions against the invasion of Ukraine.” Russia’s economy is still alive, at least China and India are on its side.
The IEA emphasizesChina and Russia take the initiative in nuclear power developmentThe fact is. When the western energy becomes fragile, it becomes Russia’s “weapon” like this time. Ensuring a stable supply of energy is also important for national security.