Call made as world leaders gather for first ever Nuclear Energy Summit
Nuclear has clear green credentials, including the lowest lifecycle carbon and land use
Leaders of the global nuclear industry are calling on governments to label nuclear energy as a green and sustainable investment in order to drive deployment and development of nuclear help in the fight against climate change. They argue that nuclear has a unique combination of reliability, sustainability, and long asset life that make it central to the net zero and energy security drive.
The call comes as world leaders gather in Brussels for the first ever global Nuclear Energy Summit, the highest-level meeting to date focused exclusively on nuclear energy. The Summit comes in the wake of the commitment made by 25 countries, including the UK, US, and France, at COP28 to triple nuclear energy worldwide.
In a statement released to mark the summit, nuclear industry leaders from the UK, US, EU, Canada, South Korea, Japan and the World Nuclear Association urge country leaders to set the right market conditions for nuclear investment in order to drive expansion globally.
This includes providing clarity to investors on the funding and investment recovery mechanisms available for nuclear projects, ensuring the World Bank and other development institutions lend to nuclear projects, and clearly and unambiguously labelling nuclear energy as a sustainable investment.
These measures would help with the expansion of nuclear, which is necessary to achieve climate and energy security goals and will require substantial investments across industry in new projects, new capabilities, and a new skilled workforce.
Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:
“Nuclear’s green credentials – the lowest lifecycle carbon, the lowest lifecycle land use, the lowest critical mineral requirement, and the best practice approach to waste management – are very clear, and there is huge opportunity to engage the investment community about it.
“We are already seeing growing market interest in nuclear in some countries, but here in the UK there is still work to be done. What we need now is for industry, governments and investors to work together to ensure we can deliver on our ambitions.”
ENDS
Notes to editors
- The full statement can be viewed here.
- The statement is signed by the Nuclear Industry Association, Nuclear Energy Institute, nucleareurope, Canadian Nuclear Association, Japan Atomic Industrial Forum, Korea Atomic Industrial Forum and the World Nuclear Association.
- According to the United Nations Economic Commission for Europe, Carbon Neutrality in the UNECE Region: Integrated Life-cycle Assessment of Electricity Sources, nuclear power has the lowest lifecycle carbon footprint, lowest lifecycle land use, and lowest lifecycle impact on ecosystems of any electricity generating source.
- According to the International Energy Agency, nuclear uses fewer critical minerals than other clean energy sources.
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