The Commission has launched a 4-week call for evidence related to the investment needs of the nuclear power sector in the EU. Seen as an important part of the consultative process and an opportunity for input from stakeholders and the public, the feedback received through this exercise will feed into the Commission’s work in preparing the update of the Nuclear Illustrative Programme (PINC), which is foreseen for publication before the end of 2025. The period to provide feedback is opened until 12 May.

The key objective of the PINC update will be to provide an up-to-date comprehensive, fact-based overview of nuclear energy investments across the EU in line with decarbonisation targets and the REPowerEU and Clean Industrial Deal goals. By covering the full lifecycle of nuclear installations, the programme will identify investment trends, needs, and challenges in the sector, based on objectives pursued by EU countries.

PINC also seeks to stimulate action by stakeholders and facilitate coordinated development of their investments in nuclear energy. In particular, the updated PINC aims to

• clarify relevant investment needs for both new-build projects and lifetime extensions of existing reactors
• identify development and investment needs essential for responsible spent fuel and radioactive waste management and for a robust supply chain
• provide an overview of innovative nuclear technologies (SMRs, fusion) currently under development in the EU and highlight opportunities and potential challenges associated with developing and deploying them
• highlight needs associated with key enablers in the nuclear sector, including: (i) national regulatory capacity; (ii) transparency and public engagement; (iii) skills/ workforce gaps; and (iv) international collaboration

The proposed initiative will also seek to document and analyse several key challenges, including

• the EU’s retention of its strategic leadership in the global nuclear sector
• vulnerabilities in the EU supply chain
• limited market uptake and slow commercialisation of innovative nuclear technologies
• access to financing 
• attracting new talent and retraining the existing workforce

The Council of the European Union on November 28, 2022, definitively approved the Corporate Sustainability Reporting Directive (hereinafter the “CSRD” or the “Directive”), already adopted at first reading on 10 November 2022 by the European Parliament1.

The CSRD is the cornerstone of the European Green Deal and the Sustainable Finance Agenda and part of a wider EU policy to commit companies to respect human rights and reduce their impact on the planet.

The Directive introduces more detailed reporting requirements on companies’ impact on the environment, human rights and social standards, extending the scope of application of the Non-Financial Reporting Directive (Directive 2014/95/EU, hereinafter the “NFRD”).

The CSRD, which will enter into force before the end of 2022, is the pivot of the European Union's action on sustainable finance, aimed at pursuing the climate objectives of the Paris Agreements and the 2030 Agenda.

Through the CSRD, investors and consumers on the market will be allowed to benefit from better access to comparable, relevant and reliable information relating to sustainability with a consequent reduction of investment risks by companies that intend to direct financial flows to companies characterized by a greater degree of sustainability.

CRSD introduces relevant changes to the annual reporting process, and it will force companies to rethink their reporting. The sustainability declaration will be equated to the financial one and must be treated with the same degree of rigor. Companies will be subject to independent audits and certifications to ensure that the data provided is reliable.