ESG Focus: Post-Fukushima - the nuclear reaction
The broad range of responses from the world's major economies
November 2011
On 11 March 2011, a 9.1 magnitude earthquake occurred off the coast of Japan. The accompanying tsunami devastated a stretch of coastline. Approximately 25,000 lives were lost and major damage occurred to homes and properties.
The Fukushima nuclear power plant, operated by Tokyo Electric Power, was damaged by the tsunami. Initially, many feared a disaster of Chernobyl-like proportions, with severe implications for the surrounding area and its inhabitants compounding the direct effects of the earthquake and tsunami.
A worldwide nuclear disaster did not occur and radiation leaking from the site is estimated to be around 10% of that from the Chenobyl reactor in 1986. The reactors operating at the time the tsunami struck were successfully shut down and containment structures around the cores were effective in preventing greater leakage. More recently, however, and of increasing concern, are localised pockets of contamination. Relatively high caesium levels have been detected across sizeable areas of agricultural land at levels which were considered dangerous after Chernobyl.
The Japanese food industry, already tainted by mislabelling precedents, may find itself at the centre of a panic should any health-related incidents occur as a result of contamination.
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ESG Focus: Post-Fukushima - the nuclear reaction
