120 companies active in 140 nations commit to major nuclear ramp up
Companies which make up the global nuclear industry have pledged to work towards at least a tripling of global nuclear capacity by 2050 as part of global efforts to fight climate change.
The Net Zero Nuclear Industry Pledge was launched today, in an event held as part of the COP28 Presidency Thematic Program, in Dubai, United Arab Emirates.
The companies endorsing the Pledge are matching the ambition and pragmatism shown by those governments which signed the Nuclear Ministerial Declaration earlier this week.
Both the Ministerial Declaration and the Net Zero Nuclear Industry Pledge commit to the goal of tripling nuclear capacity by 2050.
Since 2000, nuclear generation has supplied, on average, 2500 TWh of electricity each year. Worldwide, nuclear reactors now supply around 10% of the world’s electricity, and around one-quarter of all clean, low-carbon electricity.
But with electricity demand expected to more than double by 2050, nuclear needs to grow faster.
Welcoming the pledge Tom Greatrex, Chief Executive of the UK Nuclear Industry Association, said:
“This pledge from industry shows it is ready to build out nuclear power at scale and pace to hit net zero and secure future energy systems. Governments are committed to ramping up nuclear and we stand ready to help deliver this vital target.
“I am delighted that the UK is playing a major part in this effort, and I look forward to seeing the UK’s plan to triple capacity in the Nuclear Roadmap in the new year.”
Notes to editors
- The full text of the declaration is available here: https://world-nuclear.org/getmedia/053c811b-4f9d-4138-88c0-5b56750e8ba6/Net-Zero-Nuclear-Industry-Pledge-Final.pdf.aspx
- Information on the countries that are building, planning, or proposing to build new nuclear reactors is available from the World Nuclear Association here: https://world-nuclear.org/information-library/facts-and-figures/world-nuclear-power-reactors-and-uranium-requireme.aspx
- 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.
About the NIA
The NIA is the trade body of the UK civil nuclear industry, representing more than 270 companies operating across the sector.
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