Leaders and top officials from 22 nations have signed a declaration to triple nuclear energy production by 2050, as reported by the International Atomic Energy Agency (IAEA) ahead of the 28th United Nations Climate Change Conference (COP28).
This ambitious goal aims to facilitate the decarbonization of district heating, desalination, and hydrogen production.
The declaration underscores the necessity of this target to achieve carbon neutrality around mid-century and to prevent global warming from exceeding 1.5 degrees Celsius by 2100. Countries including the United States, Bulgaria, Canada, the Czech Republic, Finland, France, Ghana, Hungary, Japan, South Korea, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine, the United Arab Emirates, and the United Kingdom have urged international financial institutions and regional development banks to support the integration of nuclear energy into the energy sector’s financing frameworks.
The declaration also notes the compatibility of new nuclear technologies with renewable energy sources, providing additional flexibility for decarbonization efforts, especially in industries where reducing greenhouse gas emissions is challenging.
The initiative endorses the construction of small modular reactors and other advanced solutions, and broader industrial applications for decarbonization, such as hydrogen or synthetic fuel production, according to Balkan Green Energy News.
Furthermore, it highlights the feasibility of extending the lifespan of nuclear power plants. The tripling of nuclear capacity by 2050 presents a realistic and practical approach for the world to achieve net-zero carbon emissions, as per the Nuclear Energy Agency within the Organisation for Economic Co-operation and Development (OECD).