Belarus tests new BUK missile system as a low-key arms race in Eastern Europe gathers momentum
CSTO states express serious concern over terrorist threat in Afghanistan
Armenia refuses to host Eurasian Economic Union summit
COMMENT: Trump 2.0 could be a blessing for Belarus
PANNIER: Why the Turkmenistan, Iran gas “friendship” is back on
Russia’s CBR keeps key rate at 21% under pressure
Russia’s arms exports slump, Kremlin preparing for possible war with Nato
North Korea’s missile support to Russia raises alarms at UN
Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims
Bulgaria’s interim PM Glavchev refuses to sign 10-year military support deal with Ukraine
North Korean troops face heavy losses in Russia-Ukraine War as conflict intensifies
Telia willing to sell its Latvian operations back to government if price is right
The EU Council calls for a European geothermal action plan
FDI in Emerging Europe hit by geopolitical uncertainty and German slowdown
IMF: The 2004 EU enlargement was a success story built on deep reform efforts
Czech National Bank keeps interest rates at 4%
Czech EPH signs agreement with Italian Enel to buy its stake in Slovenske Elektrarne
Hungary grants political asylum to fugitive former PiS minister
Hungarian households have joint lowest consumption levels in EU
Polish industrial production disappoints in November as output falls 1.5% y/y
Polish producer price deflation eases further in November
Slovak, Hungarian, Austrian and Italian groups sign declaration backing continued gas transit through Ukraine
Slovenia sets up emergency alert system after devastating floods
Athens conditions support for Albania’s EU accession on protection for Greek minority
EU Council says enlargement is a "geo-strategic investment in peace"
Bureks vs. Big Macs
BALKAN BLOG: What Grenell’s return means for US diplomacy in the Balkans
International highway tears through Bosnia’s rural heartlands
Russia reaps harvest of chaos in nearby democracies
Croatian Bosqar Invest acquires bakery Mlinar in €100mn deal
TikTok says it has stepped up moderation ahead of Croatian presidential election
Kosovo's population down 12% since 2011
Kosovo’s president slams EU’s “unfair” treatment
Moldova's economy shrinks by 1.9% y/y in Q3
Serbia faces backlash over controversial foreign agents bill
North Macedonia's central bank lowers key interest rate by 0.25 pp to 5.55%
North Macedonia’s ex-deputy PM Grubi reportedly flees to Kosovo to avoid detention in corruption case
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Syrian-Kurdish SDF’s fighters from outside Syria will leave if Turkey agrees ceasefire, says commander
Istanbul cruise port debt “re-restructured”, banks take 49% stake
Turkey launches Persian news media aimed at Iran
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INTERVIEW: Asian Infrastructure Investment Bank financing Central Asia’s green future
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EBRD warns of risks for emerging markets pursuing industrial policies
Several top Armenian officials resign amid political shake-up
Azerbaijan trades barbs with French and US diplomats in online "Twiplomacy"
Azerbaijan’s Aliyev lines up with Russia and Trump, admits Georgia interference
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COMMENT: Could Iran open new fronts against Israel and Azerbaijan?
PROFILE: Georgian President Salome Zourabichvili
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Russia sells stakes in Kazakhstan uranium JVs to China
Freedom Holding Corp brings FIDE world rapid & blitz chess championships to Wall Street
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Decades-old Kyrgyzstan, Tajikistan border dispute could be over
Kyrgyzstan: MPs seem willing to give police a free hand
Hit indirectly by sanctions, Mongolia struggles to find workarounds
HESS: Mongolia’s unique success story between rock and a hard place at risk
Mongolia copper-gold discovery hailed for “globally significant” prospects
Tajikistan: Officials announce discovery of major rare earth deposits
Tajikistan: Rogun Dam is a white elephant in the making – report
COP29: Central Asian states losing arable land
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Russia's budget oil breakeven price world’s second lowest as oil revenues recover
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IEA: Access to energy improving worldwide, driven by renewables
The hurricane season in 2024 was weird
Global warming will increase crop yields in Global North, but reduce them in Global South
Hundreds of millions on verge of starvation, billions more undernourished as Climate Crisis droughts take their toll
Global access to energy starts to fall for the first time in a decade, says IEA
Saudi Arabia hosts kingdom's first Africa summit, to boost ties, promote stability
Putin at 2023 Africa-Russia summit: Wiping debts, donating grain and boosting co-operation
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Nelson Mandela worried about natural diamonds, Leonardo di Caprio defended them, makers of lab-grown stones demonise them
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Russia’s Rosatom to support nuclear projects across Africa at AEW2024
JPMorgan, Chase and HSBC reportedly unwittingly processed payments for Wagner warlord Prigozhin
Burkina Faso the latest African country to enter nuclear power plant construction talks with Russia
IMF: China’s slowdown will hit sub-Saharan growth
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Rain, rain go away
Africa, Asia most people living in extreme poverty
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G20 summit wraps up with a joint statement strong on sentiment, but short on specifics
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Kazakhstan has no plans to join BRICS, says Astana
Sri Lanka to apply for BRICS membership
How France is losing Africa
Gabon coup attempt after the re-election of President Ali Bongo
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Kenya’s untapped mineral wealth holds the promise of economic transformation
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Libya’s mineral riches: unlocking a future beyond oil
Ukraine claims it was behind massacre of Wagner Group mercenaries in Mali
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Russia's nuclear diplomacy binding emerging markets to the Kremlin
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Trump threatens BRICS with tariffs if they dump the dollar
SITREP: Middle East rapidly destabilised by a week of missile strikes
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COMMENT: Tunisia on the brink of collapse
Tunisian President Kais Saied re-elected for second term
WHO declares "global public health emergency" owing to mpox outbreak in Central Africa, new virus strain
Climate crisis-driven global food security deteriorated between 2019 and 2022 and is even affecting the US
South Korea’s won slides as martial law crisis sparks market turmoil
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China unveils $71bn swap facility to revitalise flagging economy
Buffett's Berkshire Hathaway makes waves with $1.9bn yen bond sale
Fukushima's forgotten victims as Japan shifts back to nuclear power
Balancing growth and sustainability: Southeast Asia’s energy dilemma
Where does nuclear power-use stand in post-COP29 Asia?
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On September 14th, the Akademik Lomonosov, a first of its kind floating nuclear plant built by Russian state nuclear energy corporation Rosatom, arrived at Pevek, a port town on the remote Chukotka Peninsula in the Russian Arctic. There, the plant is expected to provide power to about 100,000 homes.
The success of this project could mark a sea change in the way nuclear power is being deployed in areas where renewable energy cannot be implemented— and could herald new advances in the fight against climate change. However, despite this promise, the Lomonosov has come under fire from anti-nuclear groups. Greenpeace has dubbed it “Chernobyl on ice”, and staged publicity stunts to get the message across.
Even though Greenpeace’s bias is well-known, their criticism should not be dismissed lightly. Safety should come first, and environmentalists are right to ask questions. But as Dale Klein, a former head of the US Nuclear Regulatory Commission, said discussing the reaction to the Lomonosov: "It’s just a scare tactic. It’s just to make people think about an accident of some kind. So, it has no basis in science." The Finnish regulator echoed that sentiment, dismissing fears that the reactor should be a cause for concern.
Rejecting a carbon-neutral energy source out of hand simply on the grounds of the history of accidents in the past is particularly dangerous as the world is losing ground against devastating climate change. According to the UN WHO estimates, all nuclear disasters to date, including Three Mile Island, Chernobyl and Fukushima caused fewer than 5,000 deaths. That is tragic, to be sure, but in comparison burning fossil fuels, especially coal and lignite, results inmn every year.
It is true that the EU has seen almost half of its member states already meet their 2020 renewable targets. But with opposition against nuclear energy growing, fanned by misunderstood technologies such as the Lomonosov, what is sorely needed is a genuine assessment of the role the atom must play in order to stave off climate disaster.
A Growing Dilemma
The world has set new all-time record highs for carbon dioxide emissions in eight out of the past ten years. There is currently only one major power source that is both constantly available for transmission as needed and CO2-neutral: nuclear power. Most serious energy experts agree that it has a critical role to play in a world where power demand is growing, but the urgency to lower carbon emissions is simultaneously increasing. It is therefore tragic that organizations claiming to be champions for a sustainable future unwittingly promote the continued use of fossil fuel through their opposition to nuclear energy.
A case in point is Germany, where anti-nuclear sentiment has long historical roots. Spurred by the Fukushima accident, these forces pushed Angela Merkel to phase out nuclear energy by 2022 – the so-called Energiewende. While the share of renewables in the country’s energy mix has increased, so has the share of coal power. As a result, the closing of nuclear reactors has set Berlin on track to miss its own 2020 target of reducing emissions by 40% over 1990. Despite the obvious shortcomings of the Energiewende, the German Green Party has doubled down, recently making headlines by pushing for a global nuclear phase-out and attacking the UK’s Hinkley Point project.
The clash between theory and reality between nuclear and CO2 emissions is even more obvious when looking at France’s energy mix: 70% reliant on nuclear energy, Paris boasts one of the lowest CO2 emissions per capita of any developed country, at just 4.6 metric tons per capita. Despite this, green groups have lambasted president Emmanuel Macron for refusing to follow Germany’s example and even prompted his environment minister to quit in protest.
No Free Lunch
When it comes to power sources, there is no such thing as a free lunch – they all come with trade-offs. Natural gas produces fewer CO2 emissions per unit of energy but spews out methane; the production of solar panels requires a host of toxic chemicals with adverse environmental impacts; and wind turbines lead to habitat loss and fragmentation.
The pros for nuclear power are similar to the pros for renewable energy: power is produced without ongoing carbon dioxide emissions. But nuclear has critical advantages that renewables lack: it is non-intermittent, highly scalable, and can be adapted to energy peaks and slumps throughout the day. It pairs very well with intermittent renewables in keeping the grid stable and clean.
But nuclear incidents have to be taken extremely seriously. Complicating the situation still further, nuclear power is somewhat of a paradox: it falls into the very low risk category, meaning it's highly unlikely that anything bad will happen. But it is also in the extremely high potential consequence category, where a major accident could have sweeping long-term consequences. Environmental groups like Greenpeace have given an outsize weight to the possibility of such a rare, serious accident—side-lining the reality that the world will fall short on essential climate goals without nuclear power.
Fail-Safe Versus Fail-Proof
Many nuclear naysayers have also failed to understand the difference between fail-safe and fail-proof designs. To be fail-safe means that if an accident does take place, the system goes to a safe state. A simple example of this is an electrical fuse. If too much current tries to flow across the fuse, it melts and stops the flow of electricity. Modern nuclear plants are designed to provide fail-safety using technologies that weren’t available in the early day of nuclear energy (in the 1960s and 1970s).
By contrast, environmentalists expect nuclear designs to be fail-proof – an unreasonable metric that is unlikely to be achieved. No energy source is fail-proof: coal and gas plants explode, solar panels catch fire (as has happened in multiple Walmart stores in the US), dams burst and the rotor blades of wind turbines shatter. Yet only nuclear plants are held to this standard, in spite of data showing that it is the safest energy source per TWh produced.
Policymakers – especially in the climate-conscious European Union – should not give in to pressure stemming from a deep misunderstanding of nuclear power. Whether activists like it or not, the technology is currently the only one promising to successfully square the circle of climate protection and growing power needs.
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