Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Exclusive-Merkel defends nuclear power exit despite climate challenges
    Top Stories

    Exclusive-Merkel defends nuclear power exit despite climate challenges

    Published by maria gbaf

    Posted on November 18, 2021

    3 min read

    Last updated: January 28, 2026

    Image of Morrow Batteries' facility in Norway, where the first battery cell plant is located. This relates to the $134 million loan facility granted to enhance battery manufacturing in Norway.
    Battery production facility in Norway, showcasing Morrow's manufacturing - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Quick Summary

    Chancellor Merkel defends Germany's nuclear exit, posing challenges for climate goals. Germany opposes EU's nuclear sustainability label.

    Merkel Stands Firm on Nuclear Exit Despite Climate Hurdles

    By Andreas Rinke

    BERLIN (Reuters) -Chancellor Angela Merkel has defended her decision to phase out nuclear energy, even though it has made it harder for Germany to wean its economy off fossil fuels.

    In an interview with Reuters, the outgoing chancellor also said she was opposed to any plans by the European Union to label nuclear power as “sustainable”.

    “It’s true, of course, that we now face the very ambitious and challenging task of completing the energy transition while phasing out coal and nuclear power,” said Merkel, who will step down once a new government is sworn in following an election in September.

    “But it’s also true that this will be worth it for our country if we do it right.”

    Merkel, who has led her country for 16 years, pushed for Germany to abandon nuclear power after the Fukushima disaster in Japan a decade ago, a decision that most Germans agree with.

    But it made Germany more dependent on coal, prevented it meeting its goal of cutting greenhouse gas emissions 40% from 1990 levels by last year, and contributed to rising power costs for industry and households.

    Merkel has been accused of not investing enough to promote the expansion of renewable energy sources such as wind and solar farms even as her government pushed for a phase-out of coal by 2038.

    The three parties in talks on forming a new government want to bring that deadline forward to 2030.

    RENEWABLES

    The share of renewables in the energy mix of Europe’s largest economy has been growing steadily since the Fukushima disaster, though energy economists say it has not risen fast enough to help Germany meet its ambitious emissions targets.

    Renewables accounted for 45% of Germany’s energy last year, up from 17% in 2010, data compiled by the Agora Energiewende think-tank showed. The share of electricity generated from coal fell to 23% from 42% a decade ago. Nuclear power was halved to 11%.

    The EU executive, the European Commission, is drawing up a sustainable finance “taxonomy” setting out which activities meet the environmental criteria to qualify for funding under an EU sustainable investment programme.

    A document viewed by Reuters in March indicated experts were preparing to label nuclear power as sustainable because it has none of the carbon dioxide emissions produced by fossil fuels.

    Merkel said Germany would continue to oppose the plan but acknowledged that it would be hard to rally 19 other members behind its position to block it.

    “It’s difficult to stall the procedure as such once the European Commission has presented an act,” said Merkel.

    “We in Germany believe – across party lines – that nuclear energy should not be classified as being as clean as wind and solar energy.”

    “For France, for example, it is a stopgap technology. We maintain that it is natural gas that must be classified as a stopgap technology.”

    (Reporting by Andreas Rinke in Berlin; Writing by Joseph Nasr; Editing by Kevin Liffey and Gareth Jones)

    Key Takeaways

    • •Merkel defends Germany's nuclear power phase-out.
    • •Germany faces challenges in energy transition.
    • •Renewable energy share in Germany is rising.
    • •EU debates nuclear power's sustainability status.
    • •Germany opposes EU's nuclear sustainability label.

    Frequently Asked Questions about Exclusive-Merkel defends nuclear power exit despite climate challenges

    1What is the main topic?

    The article discusses Merkel's defense of Germany's nuclear power exit amid climate challenges.

    2Why did Germany phase out nuclear power?

    Germany phased out nuclear power following the Fukushima disaster, aiming to transition to renewable energy.

    3What is Germany's stance on EU's nuclear sustainability label?

    Germany opposes labeling nuclear power as sustainable, preferring natural gas as a stopgap technology.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostMan Utd off-pitch losses halve as Theatre of Dreams fills up
    Next Top Stories PostBNY Mellon becomes the first bank to successfully complete a trade finance deal using the new Secured Overnight Financing Rate (SOFR)