Nearly half (45 per cent) of the UK’s most prominent ethical investors were more open to nuclear power as doubts about alternative energy sources continue to grow, according to a new survey by UK fund management firm Kames Capital.

Nearly half (45 per cent) of the UK’s most prominent ethical investors are more open to nuclear power as doubts about alternative energy sources continue to grow, according to a new survey by UK fund management firm Kames Capital.

The survey, which questioned 50 ethical investors, found that 44 per cent of respondents had softened their stance on nuclear power, compared to previous surveys and anecdotal evidence that had suggested outright opposition to nuclear, Kames said in a statement.

Kames said the results suggested there was a growing acknowledgement that the UK needs to find alternative energy sources to meet climate change targets and replace its existing nuclear capabilities.

Despite the findings, Kames said it has no plans to relax its ethical screening criteria, which rule out investing in any company which provides critical services to, or owns or operates nuclear facilities.
 
“Despite the Fukushima nuclear accident in Japan in 2011, many leading ethical investors seem to be softening their views on nuclear power. One can only assume this is due to the growing concerns about climate change,” said Ryan Smith, head of corporate governance and ethical research at Kames.

“Overall the results of the survey suggest our ethical screening criteria are still broadly in line with client expectations and remain relevant, so we do not anticipate making any changes,” said Smith.