US, UK to Push Pledge to Triple Nuclear Power by 2050 at COP28 - Bloomberg Law
US, UK to Push Pledge to Triple Nuclear Power by 2050 at COP28
The US will lead a push at the COP28 climate summit to triple the amount of installed nuclear power capacity globally by 2050, marking a major turnaround for the controversial technology at the climate negotiations.
The declaration will call on the World Bank-bsp-bb-link> and other international financial institutions to include nuclear energy in their lending policies, according to a document seen by Bloomberg News. The US will likely be joined by the UK, France, Sweden, Finland and South Korea in the pledge to be signed Dec. 1 in Dubai, according to people familiar with the matter.
That will be followed ...
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.