Nuclear Energy and Sustainable Business Models: Comparative Analysis of Corporate Reporting in the European Union

Research Question: How do EU-based nuclear energy producers align their operations with the EU Taxonomy for sustainable activities, and what are the implications for their long-term sustainability strategies and financial performance? Motivation: The integrated analysis of sustainability disclosures, financial metrics and cross-national comparisons of firms provides a lens on how nuclear energy is recast as sustainable within a new policy paradigm. Idea: This paper compares the deployment of nuclear energy by significant producers in the European Union (EDF, Nuclearelectrica and Vattenfall) over the 2020-2024 period. While every company has a unique approach to nuclear within their energy mix and national goals, all are viewing it as a critical component to the decarbonization strategy. Data: We analyze how these companies comply with the EU Taxonomy and how they add to the establishment of (4.26) electricity generation from nuclear, (4.27) construction of nuclear installations and (4.28) safe decommissioning of nuclear installations. Tools: Comparative analysis, content analysis, financial analysis. Findings: This paper also shows how the reports of selected European Union companies are different regarding the disclosure of information on nuclear activities. It additionally provides a financial framework to facilitate future analysis of the efficiency with which these firms deploy capital and operate their nuclear assets, based on fixed assets turnover. Contribution: In summary, the paper paints a much clearer picture of the role of nuclear energy in reaching the clean energy ambitions of Europe and the need for uniform sustainability reporting if green investment is sought.