More than 20 countries from across four continents launched the Declaration to Triple Nuclear Energy at the COP28 climate summit taking place in Dubai.
The Declaration recognizes the critical role of nuclear power in reaching net zero and keeping the 1.5-degree goal within reach. To this end, countries have pledged to work together to triple nuclear energy capacity globally by 2050.
The stakeholders have also invited international financial institutions to encourage the inclusion of nuclear energy in energy lending policies.
Endorsing countries include the United States, Bulgaria, Canada, Czech Republic, Finland, France, Ghana, Hungary, Japan, Republic of Korea, Moldova, Mongolia, Morocco, Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine, United Arab Emirates, and the United Kingdom.
The Declaration recognizes that nuclear energy, as the second-largest source of clean dispatchable baseload power, offers benefits for energy security.
Furthermore, new nuclear technologies can “occupy a small land footprint and can be sited where needed, partner well with renewable energy sources, and have additional flexibilities that support decarbonization beyond the power sector, including hard-to-abate industrial sectors.
As part of the Declaration, participating countries pledge to:
- Work together to advance a global aspirational goal of tripling nuclear energy capacity from 2020 by 2050;
- Take actions to ensure nuclear power plants are operated responsibly and in line with the highest standards of safety;
- Mobilize investments in nuclear power, including through innovative financing mechanisms;
- Support the development and construction of nuclear reactors, such as small modular and other advanced reactors for power generation as well as wider industrial applications for decarbonization, such as for hydrogen or synthetic fuels production;
- Recognize the importance of promoting resilient supply chains, including of fuel, for safe and secure technologies used by nuclear power plants over their full life cycles;
- Extend plant lifetimes safely and sustainably.
Nuclear at COP28
Nuclear power has featured more prominently at COP28, with the International Atomic Energy Agency opening its Atoms4Climate pavilion this week. The pavilion will host almost two weeks of activities and events to raise awareness of the benefits of nuclear technology.
Also, a first-of-its-kind nuclear energy summit has been announced to be held next year. Leaders from around the world will gather in Brussels in March to highlight the role of nuclear energy in addressing the global challenges to reduce the use of fossil fuels, enhance energy security, and boost economic development.
Nuclear Energy Corporation (ENEC), a state-owned firm of the UAE, and
Bill Gates’ nuclear company TerraPower has also reported signed a memorandum of understanding (MoU) with Emirates Nuclear Energy Corporation to study the potential development of advanced reactors in the Gulf state and beyond.
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