The use of nuclear technology has a widespread and long-term effect on humankind and on the planet. From nuclear reactors to nuclear weapons, the radioactive waste they produce is hazardous. Despite all precautionary measures, traces have been found in soil, water and polar ice. Triodos takes a strong position against the use of nuclear technology.
The best-known use of nuclear technology is for the production of energy and weapons. Triodos has a zero-tolerance policy on both accounts. Our main concerns relate to nuclear waste and radiation. Even if nuclear waste eventually breaks down, it has to be carefully disposed of for sufficient periods of time until it no longer poses a threat. There are areas on earth that have been directly contaminated – areas where nuclear testing took place, where nuclear bombs were dropped, or places where accidents with nuclear power plants happened.
Nuclear power plants
Incidents at nuclear power plants can have a widespread and very long-term effect. The Chernobyl disaster in Ukraine in 1986 led to the immediate death of 64 people, and the evacuation of more than 200,000 people from a zone of 2,600 square kilometres. It also caused an estimated 4,000 deaths from cancer, and tens of thousands to suffer from the same disease. Today, the Exclusion Zone, immediately set up after the disaster, remains one of the most radioactively contaminated areas in the world. Initially, scientists predicted that the radioactivity of the main pollutant Cesium-137 would be halved within 30 years, but this was later re-estimated to be several hundreds of years. Traces of Cesium have even been found in reindeer flesh in Norway, 2000km from the Chernobyl site. Whilst there were no immediate deaths related to radiation exposure at the Fukushima Nuclear Power Plant accident in Japan in 2011, the World Health Organization calculates an increased risk for cancer for children and unborn babies present in the most affected region. Apart from these two well-known accidents, many other incidents and widespread radioactive releases to air and water have been documented.
Nuclear weapons testing
The most widespread anthropogenic marker, however, is the fall-out from nuclear weapons testing in the second half of the twentieth century. It has left a global signature of radionuclide activities that will be identifiable in sediments and ice for the next 100,000 years. There is also growing evidence that radioactive debris dispersed in the atmosphere from nuclear weapon testing have adversely affected the health of all living organisms on earth. Although it is difficult to assess the number of deaths that might be attributed to radiation exposure from nuclear testing, a 1991 study by the International Physicians for the Prevention of Nuclear War predicted that roughly 2.4 million people worldwide could eventually die from cancer as a result of atmospheric testing.
Triodos position
Triodos has always taken a strong position against the use of nuclear technology. For investment decisions, this translates into the rejection of companies involved in the production of nuclear energy. We have a policy of zero tolerance; any involvement, even a minor one, leads to rejection. This is the case with nuclear energy producers such as ENGIE, but also with companies that provide dedicated components, for example General Electric and Umicore, or specialist services, for example Capgemini. From our zero tolerance for involvement in arms activities also follows a direct exclusion for companies involved in nuclear arms production.
But what about financials that are financially involved in the companies? We already apply a zero-tolerance policy to financial institutions that finance companies involved in controversial arms (cluster bombs and anti-personnel mines). We recently extended this zero tolerance to financial institutions that invest in companies involved in the production of nuclear arms, such as BAE Systems, Boeing and Airbus. We allow the financial institutions a reasonable period of time to bring their policies and portfolios in order, however if after this period they do not meet our standards, we will remove them from our sustainable investment universe and funds.
Note: The issues explored in this article are relevant for sustainable investments on the stock market. Triodos Bank believes that our socially responsible investments are a powerful means of promoting our values and working for greater sustainability, while enabling us to offer a complete range of attractive investment options to customers who choose to invest on the stock market.