Japan gov't proposes Fukushima water release to sea or air
December 23, 2019, 12:29 pm

Japan gov't proposes Fukushima water release to sea or air

In this Oct. 12, 2017 photo, ever-growing amount of contaminated, treated but still slightly radioactive, water is stored at the wrecked Fukushima Dai-ichi nuclear plant. (File photo)

Japan's economy and industry ministry has proposed gradually releasing or allowing to evaporate massive amounts of treated but still radioactive water at the tsunami-wrecked Fukushima nuclear plant.

The proposal made Monday to a body of experts is the first time the ministry has narrowed down the options available to just releasing the water. It is meant to tackle a huge headache for the plant's operator as storage space runs out, despite fears of a backlash from the public.

Nearly nine years after the 2011 triple meltdowns at Fukushima Dai-ichi, the radioactive water is still accumulating as the water is needed to keep the cores cooled and minimize leaks from the damaged reactors.

For years, a government panel has been discussing ways to handle the crisis and to reassure fishermen and residents who fear potential health impacts from releasing the radioactive water as well as harm to the region's image.

In Monday's draft proposal, the ministry suggests a controlled release of the water into the Pacific, allowing the water to evaporate, or a combination of the two methods.

The ministry said a controlled release into the sea was the best option because it would “stably dilute and disperse” the water from the plant using a method endorsed by the United Nations' Scientific Committee on the Effects of Atomic Radiation. It also would facilitate monitoring of radiation levels in the environment.

Releasing the entire amount of water over one year would only increase radiation levels to thousands of times less than the impact humans usually get from the natural environment.

In the proposal, the ministry noted that evaporation has been a tested and proven method following the 1979 core meltdown at Three Mile Island, where it took two years to get rid of 87,000 tons of tritium water.

The government and the plant operator, Tokyo Electric Power Co., have been unable to get rid of the more than 1 million tons of radioactive water that has been treated and stored due to opposition from local fishermen and residents fearing further damage to Fukushima's reputation and recovery. The utility has managed to cut down the volume of water by pumping up groundwater from upstream and installing a costly underground “ice wall” around the reactor buildings to keep the water from running into the area.

TEPCO says it has space to store only up to 1.37 million tons and only until the summer of 2022, raising speculation that the water may be released after the Tokyo Olympics next summer. TEPCO and experts say the tanks get in the way of decommissioning work and that they need to free up the space to build storage for debris removed and other radioactive materials. The tanks also could spill out their contents in a major earthquake, tsunami or flood.

Experts, including those at the International Atomic Energy Agency who have inspected the Fukushima plant, say the controlled release of the water into the ocean is the only realistic option, though it will take decades.

A government panel earlier compiled a report that listed five options, including releasing the water into the sea and evaporation. The three others included underground burial and an injection into offshore deep geological layers.

The panel has also discussed possibly storing the radioactive water in large industrial tanks outside the plant, but the ministry proposal ruled that out, citing risks of leakage in case of corrosion, tsunamis or other disasters and accidents, as well as the technical challenge of transporting the water elsewhere.

Source: The Associated Press

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.