Cop29 / IAEA Highlights ‘Pressing Need’ For International Finance For Nuclear Plants

As climate summit approaches in Azerbaijan, UN atomic agency calls for investment to ‘rapidly increase’

IAEA Highlights ‘Pressing Need’ For International Finance For Nuclear Plants
The Baku Stadium in Azerbaijan is the main venue for the Cop29 climate summit next week. Courtesy UN/Cop29.

As more than 100 heads of state and government are expected to gather in Baku, the capital of Azerbaijan, for the Cop29 UN climate summit, the International Atomic Energy Agency is hoping that delegates will agree on the pressing need for increased climate finance, including for new nuclear power plants.

As the world grapples with the escalating impacts of climate change, IAEA director-general Rafael Grossi will join global leaders at Cop29 – formally known as the Conference of the Parties to the United Nations Framework Convention on Climate Change – to highlight what he called “the vast potential” of nuclear solutions for climate change mitigation, adaptation and monitoring.

The IAEA said a central theme of Cop29 will be the pressing need for increased climate finance.

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