Nuclear power left out of lucrative federal ‘green’ program

To meet Canada’s carbon emission goals, nuclear power will have to be a large part of the country’s electricity mix, says Huron-Bruce MP, Ben Lobb.

“They’ll [the federal government] will not reach their 2030 climate targets or net zero by 2050 without nuclear power as the baseload,” says Lobb.

Which is why he and many other supporters of nuclear power, especially those in midwestern Ontario, home to the Bruce Power nuclear facility, were shocked when nuclear power was excluded from a lucrative $5 billion Green Bond initiative from the federal government designed to fund climate-friendly projects in order to reduce Canada’s carbon emissions.

“Confused, because we know nuclear power is clean power. Confused, because it’s out of step with the rest of the world. Confused, because the federal government is sending mixed signals. Do they support nuclear power or do they not support it,” says Robert Walker, head of the Canadian Nuclear Worker’s Council.

Earlier this year, the federal government invested $27 million into the development of small modular reactors in Ontario, but a few weeks later left nuclear power on the sidelines of the Green Bond program, lumping it in with oil and gas production.

“To lump it in with alcohol, tobacco, arms manufacturing, etc., is, I think an insult to the many men and women that go to work at Bruce Power everyday, and keep the lights on in our communities,” says Lobb.

But the historical downsides to nuclear power probably played a role in the government’s decision, says M.V Ramana, from UBC’s School of Public Policy and Global Affairs.

“Including the problem that it produces radioactive waste, that is very hard to manage. That it has the risk of accidents, and that it’s linked to proliferation of nuclear weapons,” he says.

The government hasn’t explained their reasoning other than to say it’s in step with other similar Green Bond initiatives around the world.

“The exclusion will likely result in it being tougher to finance nuclear projects, and that’s going to affect all of us. It’ll affect future jobs and it’s very disappointing,” says Walker.