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Nuclear Waste Disposal Fund
The Nuclear Waste Disposal Fund (german: Fonds zur Finanzierung der kerntechnischen Entsorgung) is a German federal fund to manage the financial endowment for long-term nuclear waste storage sites. The fund is organised as a trust and falls into the remit of the Federal Ministry for Economic Affairs and Energy. However, the closure of all power stations must be followed by finding a permanent nuclear graveyard by the government's 2031 deadline. Background In the aftermath of the nuclear disaster in Fukushima in 2011, the German government decided to phase out nuclear energy production. All German nuclear power plants must therefore be shut down by 2022. Power plant operators were made responsible for the dismantling and disposal of the resulting nuclear waste. To address concerns that the disposal of nuclear waste may be dependent on the financial stability of those operators, the long-term financial responsibility was shifted to a trust fund managed by a federal government agency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Radioactive Waste
Radioactive waste is a type of hazardous waste that contains radioactive material. Radioactive waste is a result of many activities, including nuclear medicine, nuclear research, nuclear power generation, rare-earth mining, and nuclear weapons reprocessing. The storage and disposal of radioactive waste is regulated by government agencies in order to protect human health and the environment. Radioactive waste is broadly classified into low-level waste (LLW), such as paper, rags, tools, clothing, which contain small amounts of mostly short-lived radioactivity, intermediate-level waste (ILW), which contains higher amounts of radioactivity and requires some shielding, and high-level waste (HLW), which is highly radioactive and hot due to decay heat, so requires cooling and shielding. In nuclear reprocessing plants about 96% of spent nuclear fuel is recycled back into uranium-based and mixed-oxide (MOX) fuels. The residual 4% is minor actinides and fission products the latter of w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trust Law
A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In the Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the " beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". A ''testamentary trust'' is created by a will and arises after the death of the settlor. An ''inter vivos trust'' is created during the settlor's lifetime by a trust instrument. A trust may be revocable or irrevocable; an irrevocable trust can be "broken" (revoked) only by a judicial proceeding. The trustee is the legal owner of the property in trust, as fiduciary for the beneficiary or beneficiaries who is/are the equitable owner(s) of the trust property. Trustees thus have a fiduciary duty to manage th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Ministry For Economic Affairs And Energy
The Federal Ministry for Economic Affairs and Climate Action (german: Bundesministerium für Wirtschaft und Klimaschutz, ), abbreviated BMWK (was BMWi), is a cabinet-level ministry of the Federal Republic of Germany. It was previously known as the "Ministry of Economy". It was recreated in 2005 as "Ministry of Economics and Technology" after it had previously been merged with other ministries to form the Federal Ministry for Economics and Labour between 2002 and 2005. The ministry is advised by the Council of Advisors on Digital Economy. History The historical predecessor of the current Federal Ministry for Economic Affairs and Climate Action was the ''Reichswirtschaftsamt'' (Reich Economic Office), founded in 1917. In 1919, this became the ''Reichswirtschaftsministerium'' (Reich Ministry of Economy), which existed until 1945. In postwar occupied Germany, its functions were exercised by the Administrative Office of Economy (german: Verwaltungsamt für Wirtschaft) between 1946 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fukushima Daiichi Nuclear Disaster
The was a nuclear accident in 2011 at the Fukushima Daiichi Nuclear Power Plant in Ōkuma, Fukushima, Japan. The proximate cause of the disaster was the 2011 Tōhoku earthquake and tsunami, which occurred on the afternoon of 11 March 2011 and remains the most powerful earthquake ever recorded in Japan. The earthquake triggered a powerful tsunami, with 13–14-meter-high waves damaging the nuclear power plant's emergency diesel generators, leading to a loss of electric power. The result was the most severe nuclear accident since the Chernobyl disaster in 1986, classified as level seven on the International Nuclear Event Scale (INES) after initially being classified as level five, and thus joining Chernobyl as the only other accident to receive such classification. While the 1957 explosion at the Mayak facility was the second worst by radioactivity released, the INES ranks incidents by impact on population, so Chernobyl (335,000 people evacuated) and Fukushima (154,000 evacuate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EnBW
EnBW Energie Baden-Württemberg AG, or simply EnBW, is a publicly-traded energy company headquartered in Karlsruhe, Germany. As its name indicates, EnBW is based in the German state of Baden-Württemberg. History Foundation and development EnBW came into being on 1 January 1997 as the result of a merger between two energy companies from Baden-Württemberg, Badenwerk AG and Energie-Versorgung Schwaben AG (EVS). EnBW subsequently merged with Neckarwerke Stuttgart AG on 1 October 2003. Strategic reorientation and expansion of renewable energy activities In March 2012, Frank Mastiaux was appointed as the new CEO of EnBW. At the end of 2012, in response to the nuclear power phase-out and the energy transition, Mastiaux announced a strategic reorientation. The proportion of renewable energy sources in EnBW's energy mix was to increase from 12% to 40% by 2020. The figure of 40.1% was reached in 2021. Much of this was to be achieved by expanding wind power: with 1,016 MW onshore an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vattenfall
Vattenfall is a Swedish multinational power company owned by the Swedish State. Beyond Sweden, the company generates power in Denmark, Finland, Germany, the Netherlands, and the United Kingdom. The company's name is Swedish for "waterfall", and is an abbreviation of its original name, Royal Waterfall Board (''Kungliga Vattenfallstyrelsen''). History Vattenfall (then called ''Kungliga Vattenfallsstyrelsen'' or Royal Waterfall Board) was founded in 1909 as a state-owned enterprise in Sweden. From its founding until the mid-1970s, Vattenfall's business was largely restricted to Sweden, with a focus on hydroelectric power generation. Only in 1974 did the company begin to build nuclear reactors in Sweden (the Ringhals 1 and 2 reactors), eventually owning seven of Sweden's 12 reactors. In 1992, Vattenfall was reformed as the limited liability company Vattenfall AB. At the same time, the transmission grid (220 kV and 400 kV lines) was transferred to the newly formed state agency Svens ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bundesbank
The Deutsche Bundesbank (), literally "German Federal Bank", is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB). Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Bundesbank and the European Central Bank (ECB) are located in Frankfurt, Germany. It is sometimes referred to as "Buba" for Bundesbank, while its usual abbreviation is BBk in Germany and internationally DBB. The Bundesbank was established in 1957 and succeeded the Bank deutscher Länder, which introduced the Deutsche Mark on 20 June 1948. Until the euro was physically introduced in 2002, the Bundesbank was the central bank of the former Deutsche Mark ("German Mark", sometimes known in English as the "Deutschmark"). The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the ''Bundesbank model'', as opposed, for instance, to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental, Social And Corporate Governance
ESG (environmental, social, and corporate governance) data reflect the negative externalities (costs to others) caused by an organization with respect to the environment, to society and to corporate governance. ESG data can be used by investors to assess the material risk the organization is taking and by the organization itself as metrics for strategic and managerial purposes. Investors may also use ESG data beyond assessing material risks to the organization in their evaluation of enterprise value, specifically by designing models based on assumptions that the identification, assessment and management of sustainability-related risks and opportunities in respect to all organizational stakeholders leads to higher long-term risk-adjusted return. Organizational stakeholders include but not limited to customers, suppliers, employees, leadership, and the environment. Since 2020, there has been accelerating interest in overlaying ESG data with the Sustainable Development Goals (SDG ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Bond
A government bond or sovereign bond is a form of bond issued by a government to support public spending. It generally includes a commitment to pay periodic interest, called coupon payments'','' and to repay the face value on the maturity date. For example, a bondholder invests $20,000, called face value or principal, into a 10-year government bond with a 10% annual coupon; the government would pay the bondholder 10% interest each year and repay the $20,000 original face value at the date of maturity (i.e. after 10 years). Government bonds can be denominated in a foreign currency or the government's domestic currency. Countries with less stable economies tend to denominate their bonds in the currency of a country with a more stable economy (i.e. a hard currency). When governments with less stable economies issue bonds, there is a possibility they will be unable to repay bondholders, resulting in a default. All bonds carry a default risk. International credit rating agencies p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nuclear Power In Germany
Nuclear power in Germany accounted for 13.3% of German electricity supply in 2021, generated by six power plants, of which three were switched off at the end of 2021, the other three due to cease operation at the end of 2022 according to the complete nuclear phase-out plan of 2011. However, in early 2022 this plan was called into question once more in light of the 2022 Russian invasion of Ukraine which threatens Germany's supply of natural gas. There have been calls to either delay the shutdown of the remaining three reactors or to restart operation in those reactors that were shut down in late 2021. German nuclear power began with research reactors in the 1950s and 1960s with the first commercial plant coming online in 1969. Nuclear power has been a topical political issue in recent decades, with continuing debates about when the technology should be phased out. The anti-nuclear movement in Germany has a long history dating back to the early 1970s, when large demonstrations pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Funds
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
