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Green Taxonomy, Financing, And Bonds: Does Nuclear Have A Place?

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By Gaopalelwe Santswere

The role of nuclear in the global transition to clean energy remains a controversial issue. In terms of finance, a fundamental question is whether the use of sustainable mechanisms like green bonds for nuclear projects is justified. Obviously, the universal solution is impossible. While some governments exclude nuclear power from their national green taxonomies, others, have included nuclear projects into the green financing system.

“Recognizing that many sustainable investors have exclusionary criteria in place around nuclear energy, the UK government will not finance any nuclear energy-related expenditures under the Framework,” holds the UK government’s Green Financing Framework, enacted this July. However, the document states that reaching net zero emissions will require all energy to be delivered to consumers in zero-carbon forms and be derived from low-carbon sources. Thus, nuclear power is, and will continue to be, a key part of the UK’s low-carbon energy mix alongside solar and wind generation and carbon capture and storage technology.

According to S&P Global Ratings assessment, issuance in sustainable debt, including green, social and sustainability-linked bonds, rose up to more than 60% in 2020. This year the total value of sustainable financing instruments, will exceed $ 700 billion. This accounts for 9% of the global bond market, compared with 3.6% just three years ago. No doubt that this share will increase further with the advance of the energy transition.

The procedure for offering green bonds is not much different from the usual one for many companies to raise borrowed funds using bond instruments. But in addition to traditional description of the project for which funding is sought, it is necessary to assess its compliance with the green framework, or taxonomy, in the national or transnational level. Further verification of the application is carried out by rating agencies, which provide a second party opinion, which gives a pass to the financial platform. Does nuclear have a place there?

Europe still hesitates

The Taxonomy Climate Delegated Act of the European Union—the world’s first “green list” of a kind—is intended to be “common language that investors can use when investing in projects and economic activities that have a substantial positive impact on the climate and the environment”. But in the document unveiled by the European Commission (EC) this April the final decision on the nuclear was delayed.

Nuclear inclusion will be “subject to and consistent with the results of the specific review process underway in accordance with the EU Taxonomy Regulation,” the EC said. Foratom, the European nuclear trade organization, hailed the EC’s move to include nuclear under a complementary act.

Notably, France with its’ fabulous nuclear capacity has said it will fight to make nuclear power a green technology in line with EU sustainable financing rules. “This is a real political struggle,” said French Economy Minister Bruno Le Maire, emphasizing “France’s determination” to be labeled “green” investments for nuclear power according to taxonomy.

Some countries, for political reasons, make the inclusion of the atom impractical; however, many European scientists and experts recognize that the atom is an integral part of a carbon-free future.

Alternative Taxonomy is Real

China where green bond market was officially launched in 2015 gives another example of the inclusive green taxonomy. The 2019 Guiding Catalogue for the Green Industry issued by the Chinese National Development and Reform Commission mentions the manufacture of nuclear power facilities as eligible under “clean energy Industry”.

New catalogue released in April 2021 scientifically and uniformly defines the areas and scope of green bond endorsed projects, unifies the scope of domestic green bond standards and gradually realizes the convergence of domestic and international standards and specifications.

In this new catalogue the requirements for hydroelectric power generation facilities and nuclear power plants are clearly defined as “without significant impact on the ecological environment”, “under the premise of safeguarding environmental safety”, and “under the premise of no serious damage to marine ecology and biodiversity”. Moreover, the document added items in the category of green equipment manufacturing, including nuclear power equipment manufacturing and nuclear power plant construction and operation.

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Afro-trap Artist KHAID Releases Debut Single “With You”

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17-year-old Afro-trap artist, and first Neville Records signee – KHAID, releases his debut single, “With You” distributed by Platoon. 

“With You” takes listeners on a journey to KHAID’s early experience of love. He describes how he had genuine love for a girl who consistently gave him a hard time. Despite all the pain she had put him through, he didn’t like her any less but genuinely wanted to be with her.

“My music is unique. I’ve birthed a new sound for my generation and I’m excited to finally share my work with the world,” expresses KHAID. 

Following the announcement last week by entertainment powerhouse, comedian and actor, Sydney Talker, of his newly launched record label – Neville Records, and signing of KHAID, he shares: “You can expect to experience musical diversity from KHAID’s music. His music is transcultural as it can be enjoyed by a cosmopolitan audience. You can also expect from KHAID what I call musical spirituality – music that connects to the soul.

You’d understand what I’m saying if you’ve ever listened to a song that changed or lifted your mood or spirit. His music will heal souls and uplift spirits. In a continent like Africa where there are numerous problems, I believe KHAID’s music will inspire young people towards achieving greatness.”

“With You” marks the first single to be released off KHAID’s upcoming debut EP, ‘DIVERSITY’ via Platoon, and can be streamed or downloaded here: https://platoon.lnk.to/WITH-YOU

You can also watch KHAID’s “With You” music video here: https://youtu.be/lm7vdYkpOZs

Under Neville Records, KHAID makes his official entry into the music industry starting his career with traits of determination, persistence, and consistency. At age 12, KHAID started nurturing his musical abilities through creating freestyle videos and performing on the streets of Ojo, Lagos and is now ready for the world stage.

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Nigerian Idol Set To Stream Across UK, Italy, France, Australia, New Zealand And 50+ African Countries On Showmax

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It’s no news that Nigerian Idol is back, and this season promises to be exciting for fans and viewers of the show. This year, Nigerian Idol fans are in for a thrill as Showmax will stream the show across Africa and abroad in the UK, Australia and New Zealand.

Nigerian Idol will start airing the seventh season on Sunday, February 6, 2022. Viewers across these countries can follow all the excitement and drama from the auditions to the theatre week to the live shows, which begin on March 20, 2022, via the African streaming service.

Speaking on this development, Executive Head, Content and West Africa Channels MultiChoice Nigeria, Dr Busola Tejumola, said: “Fans of Nigerian Idol in the United Kingdom, in Italy, in France, Australia and 23 other countries will be able to stream the talent show on Showmax. This is in addition to the series being available across Africa on the streaming service.”

The three-month-long music reality show will follow the lives of talented and aspiring musicians who undergo rigorous training to become the next music superstar. The winner will walk away with 100 Million Naira worth of prizes. This is the highest reward for any singing competition in Nigeria. In addition, Showmax will air highlights and audition processes from the Nigerian Idol season 7 show. Last year’s season is also available to watch on the streaming platform.

Showmax has built a strong slate of original African programming, with original Nigerian shows like ‘Ghana Jollof’, ‘I am LAYCON, Kenya’s ‘Baba Twins’ and award-winning Crime & Justice. Showmax’s latest Kenyan Original drama series ‘Single Kiasi’, which is based on the same format as Unmarried, with a Nairobi twist, premiered on 20 January!

This season of Nigerian Idol is proudly sponsored by Bigi Drinks and Binance.

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IK Osakioduwa Returns As Host For Nigerian Idol Season 7

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After a thrilling ride filled with suspense and humour in the last season, IK Osakioduwa is set to return as a second-time host for Nigerian Idol season 7.

He has always given nothing short of savviness, excitement and humour both on-air and now on stage, which is why we have no doubt that the Nigerian Idol season 7 is in good hands.

IK Osakioduwa is a media personality to be reckoned with, having spent over a decade as a broadcaster at Rhythm 93.7, and hosting a number of high profile events across the continent including the Big Brother Africa show.

“I’m so excited to be back on the show because coming back for a new season means that I did well the previous season. I’ll be bringing a lot to the table this season and I can’t wait for the viewers to see what we have in store.” He said.

His versatile presenting skills cut across a variety of shows and events. He has been the only male host of the AMVCA since 2013. He has also hosted the Most Beautiful Girl in Nigeria pageant for five years in a row, Rhythm Unplugged for four years in a row, Comedy Club: Live in Lagos for four years in a row and The Voice Nigeria for two years in a row. He has appeared on other shows including Mnet’s Studio 53, Temptation Nigeria and Comedy Nites.

With his demonstrated savviness and ability to keep an audience engaged, IK is undoubtedly a host who will deliver value to the show.

Nigerian Idol has without a doubt been a huge and successful singing competition famed for producing some of the biggest music acts in the country such as Timi Dakolo and Omawumi (it was then referred to as Idols West Africa) and break-out gospel singer Mercy Chinwo.

Nigerian Idol Season 7 will air from Sunday, 6 February on DStv channel 197 & GOtv channel 29.

The headline sponsor of Nigerian Idol season 7 is Bigi Drinks and the co-headline sponsor is Binance.

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