Latest news with #CleanProsperity
CTV News
09-05-2025
- Business
- CTV News
Canada could soon have G7's first small modular nuclear reactors. Here's what that means
An artist rendering of the first small modular reactor (SMR) being built in Ontario. (Source: Ontario Power Generation) For the last 15 years, there's been a lot of talk about the possibilities of small modular reactors – mini nuclear plants that could be factory built and power an industrial site or a small city. Now, Ontario is pressing ahead with a plan to build four of them – the first in the western world. 'A lot of governments are watching to see how this goes,' said Brendan Frank with the group Clean Prosperity, a non-profit. Significantly smaller in size and power output compared to a traditional nuclear plant, small modular reactors (SMRs) are based on the same science. Fission is used to generate heat, which is then used to make electricity. 'SMRs are basically shrunken down technology, about a third or quarter in size, but have many of the same principals,' said Frank. Ontario is giving the green light for Ontario Power Generation to spend $7.7 billion to build the first of the reactors and common systems for all four next to the Darlington power plant east of Toronto. The modular plant, called the BWRX 300, was designed by American based G.E. Hitachi Nuclear Energy and will be able to provide 300 megawatts of electricity, which is enough to power 300,000 homes. Saskatchewan next? It's hoped the finished plant will show both the feasibility and benefits of SMRs and encourage broader adoption. Their compact size and modular design means they could be suitable for remote locations. 'The Saskatchewan government is considering the same reactor model,' said Frank. 'They're basically hinging their decision on whether to build their first nuclear reactor based on whether or not things go well in Ontario.' Nuclear reactor Canada news Construction site where four SMRs will be built generating enough electricity to power 1.2 million homes. (Source: Ontario Power Generation) Alberta, New Brunswick? Alberta and New Brunswick are also considering SMRs, and Ontario has been helping to try and export the technology to countries like Poland and Estonia. Frank says there's a global commitment to triple existing nuclear capacity by 2050.'Canada can be a huge contributor to global efforts to build out that capacity while generating jobs and growth here at home.' More than 80 Ontario companies will be involved in the construction. The plant is expected to be online by 2030. All four will cost nearly $21 billion and are scheduled to run by 2035. Ontario's government says the plants will help meet energy demands in the future which are expected to rise by 75 per cent by 2050. The province's minister of energy and mines Stephen Lecce says construction will employ 18,000 people and adds the plants should last 65 years. 'This is a bold decision we're making,' said Lecce. Tech is vulnerable to U.S. whims: critic But the project isn't without its critics. Jack Gibbons is with the Ontario Clean Air Alliance. He says an analysis by his group shows solar and wind power would be much cheaper. He also believes going with the reactor design by U.S.-based GE Hitachi is not good for national security. 'These new American reactors will require us to import enriched uranium from the United States,' said Gibbons. 'That enriched uranium could be cut off by President Trump at any moment.'
South China Morning Post
04-04-2025
- Business
- South China Morning Post
Carbon tax no longer an option for Hong Kong but a necessity
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at [email protected] or filling in this Google form . Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification Advertisement Hong Kong has set ambitious climate targets, aiming to cut emissions in half by 2035, compared to 2005 levels, and achieve carbon neutrality by 2050. The Climate Action Plan 2050 outlines strategies in clean electricity, energy-efficient buildings, green transport and waste reduction. However, a key element is missing: a carbon tax . This policy is a powerful tool for pricing emissions and creating economic incentives for greener behaviour. Countries like Singapore, Japan and Sweden offer valuable lessons. Singapore introduced a carbon tax in 2019, starting at S$5 (US$3.75) per tonne of carbon dioxide. It rose to S$25 last year, and is expected to rise to S$50-S$80 by 2030. After Japan implemented a carbon tax in 2012, the country reduced emissions by around 20 per cent between 2013 to 2022. Sweden's carbon tax helped reduced emissions by 26 per cent from 1990 to 2017. During the period, its economy grew by 78 per cent, according to Clean Prosperity. This proves that carbon taxes can effectively reduce emissions without harming economic growth. For Hong Kong, a carbon tax could target high-emission sectors such as electricity, transport and waste. A phased roll-out like Singapore's would allow businesses time to adapt. Sectors exposed to trade could be exempt. Revenue could be reinvested in climate initiatives, subsidies for marginalised groups or tax reductions, providing both environmental and economic benefits. Advertisement Social equity is a concern as carbon taxes can have an impact on lower-income households. However, redistributing a portion of tax revenue through rebates or 'carbon dividends' could offset these costs. The International Monetary Fund suggests allocating 16 per cent of the revenue to the poorest 40 per cent of households would be sustainable. Small businesses could receive targeted support, similar to Singapore's approach.
