Henry Preston
External Communication & Media Manager, World Nuclear Association
Energy is essential for survival, and nuclear energy offers abundant, clean and reliable power using fewer resources and land to meet global needs.
Like planting trees, the best time to build a nuclear power station was 20 years ago — the next best time is today. To do so requires getting supportive policies in place, alongside international collaboration. At the UN Climate Conference, COP29, in Baku, more than 30 countries have now joined the declaration to triple global nuclear capacity by 2050, and over 130 organisations have pledged to meet this goal. This coalition sees the essential role of nuclear in reaching both net zero and energy security targets.
Unlocking sustainable finance to enable nuclear energy
Fourteen major financial institutes and banks also support the goal of triple nuclear. The cost of borrowing capital is the largest cost of nuclear projects, so accessing preferable finance rates, like other clean energy projects, is vital for supporting emerging economies and nuclear newcomers.
The World Bank last financed a nuclear project in 1959; the world has changed since then. Over the past six decades, the nuclear energy sector has grown substantially, providing thousands of round-the-clock terawatt-hours of reliable, clean energy and preventing the release of billions of tonnes of CO₂.1,2 Throughout this period, nuclear energy’s sustainability credentials have been repeatedly validated, by organisations such as the Intergovernmental Panel on Climate Change, the International Energy Agency and the United Nations Economic Commission for Europe.
Recognising nuclear’s role in
the energy transition will help
realise a clean future for all.
Certainty for energy users and the supply chain
To accelerate and expand nuclear deployment, there must be certainty for end energy users and the supply chain. This includes clear regulatory frameworks, stable market conditions and predictable government policies, as well as the availability of a skilled workforce
The emergence of AI and data centres as significant consumers of electricity has led technology giants to choose nuclear energy as a valuable partner. Recognising nuclear energy’s role in the energy transition will signal opportunities to both end users and the necessary supply chain.
The time is now
Global electricity demand is projected to rise dramatically in the coming decades, driven by the need to decarbonise, support economic development and provide regular access to nearly a billion people. Recognising nuclear’s role in the energy transition will help realise a clean future for all.
[1] International Atomic Energy Agency. 2022. Climate Change and Nuclear Power 2022.
[2] The International Energy Agency. 2019. Nuclear Power in a Clean Energy System.
