International Call For Tripling Nuclear Energy Emerges From Over 20 Nations

Key components involve collaborative efforts to triple global nuclear energy capacity by 2050 and encouraging international financial institutions’ shareholders to incorporate nuclear energy into energy lending policies.

During the World Climate Action Summit at the 28th Conference of the Parties to the U.N. Framework Convention on Climate Change, over 20 countries across four continents unveiled the Declaration for Tripling Nuclear Energy in Dubai. The declaration acknowledges the crucial role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050 and maintaining the 1.5-degree target.

Key components involve collaborative efforts to triple global nuclear energy capacity by 2050 and encouraging international financial institutions’ shareholders to incorporate nuclear energy into energy lending policies.

The endorsing nations encompass 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.

During the U.N. climate talks, the aim was to triple global nuclear energy capacity as a step towards achieving net-zero emissions by 2050. A declaration supported by nations including South Korea, the United States, Ghana, and various European countries emphasized the “key role” of nuclear energy in attaining carbon neutrality.

The adoption of nuclear energy as a cleaner alternative to fossil fuels remains contentious, notably in Japan post the 2011 Fukushima nuclear crisis. Environmental groups express concerns about safety and the management of nuclear waste.

The approval of nuclear energy as a cleaner replacement for fossil fuels continues to be a source of controversy, fueled by concerns from environmental groups regarding safety and the handling of nuclear waste.

The goal is to increase nuclear energy capacity threefold by 2050 compared to the levels observed in 2020.

Over 110 nations have committed to tripling the world’s renewable energy by 2030, announced European Commission President Ursula von der Leyen. She urged everyone to incorporate these targets into the final COP decision. The question remains whether governments and businesses will mobilize the substantial investments required to achieve this goal.

Despite the global surge in renewables like solar and wind, challenges such as rising costs, labor shortages, and supply chain issues have led to project delays and cancellations, causing significant financial losses for developers like Orsted and BP. Securing the deal in the final UN climate summit decision necessitates consensus among the nearly 200 participating countries.

While China and India have shown support for tripling global renewable energy by 2030, their commitment to the overall pledge, which combines the increase in clean power with a reduction in fossil fuel use, is yet to be confirmed. Countries such as South Africa, Vietnam, Australia, Japan, Canada, Chile, and Barbados have already endorsed the pledge.