EDF Group is set to become the fifth nuclear power plant operator to join the FTSE4Good index, having fulfilled the business index's criteria for the nuclear industry.
During a semi-annual review of the FTSE4Good index, its policy committee approved the inclusion of EDF following an in-depth analysis based on the inclusion criteria for nuclear power companies. These include criteria regarding nuclear safety and waste which covers the company's policies, management systems, disclosure and performance.
The FTSE4Good index series was launched in 2001 for investors that wanted to only invest in companies with good standards of corporate responsibility and that minimize social and environmental impact. The index originally excluded uranium mining and nuclear power companies, lumping them with the tobacco and weapons industries among others, but later completed a revision of the 'negative screen' that excluded them. For these companies there is now a series of criteria that come in addition to the index's demanding requirements for companies with potential to have high environmental and social impacts. Spain's Iberdrola became the first company to met the index's criteria for the nuclear industry in September 2010. Italy's Enel was added in March 2011, while Gas Natural Fenosa and Centrica both joined in September 2011.
Claude Nahon, EDF Group's head of sustainable development, commented: "Transparency is vital in our business. It is the basis for real dialogue with our stakeholders and a pre-condition for public acceptance of our work." He added, "Recognition of our efforts on this front by such a well-known and prestigious body is really encouraging."
In May 2011, EDF Group unveiled a strategy for the company to increase its installed capacity to 200 GWe, with a diversified energy mix of 50% nuclear, 25% thermal and 25% hydroelectricity and other renewables. This would represent an increase of around 66 GWe from EDF's 2010 installed capacity of 133.9 GWe, including 74.3 GWe of nuclear (55%), 34.8 GWe thermal (18%), and 24.8 GWe hydro and other renewables (26%). In addition to increasing its capacity, becoming a major global player in low carbon energy, and taking top spot in the European renewables sector, the company also said it planned to increase its generation capacity outside France by 50%. Further to its "strong European foothold" and expanding presence in China, Russia and the USA, the company said it aimed to increase its presence in rapidly growing markets such as Poland, Brazil and Turkey.
Researched and written
by World Nuclear News