Nuclear Politics

G7 / Nuclear Industry Calls For Policies To Boost Financing And Construction Of New Reactors

By David Dalton
17 April 2023

Sector also wants backing for innovative new technologies
Nuclear Industry Calls For Policies To Boost Financing And Construction Of New Reactors
The industry says countries need to maximise the use of existing nuclear power plants and accelerate the deployment of new ones. Courtesy ČEZ.
The Brussels-based nuclear industry trade association nucleareurope has called on governments to recognise the invaluable role of nuclear in a clean and sustainable energy future and said the industry needs policies which will support the financing and construction of new nuclear projects.

“Given the challenges which we face in terms of decarbonising our economies and ensuring a secure supply of energy, all actors need to work together to extend the life of the existing nuclear fleet for as long as is technically and economically feasible,” said nucleareurope director-general Yves Desbazeille.

According to nucleareurope, which issued a statement to coincide with the G7 ministers’ meeting on climate, energy and environment in Sapporo, Japan, G7 countries need to maximise the use of existing nuclear power plants and accelerate the deployment of new ones.

The statement said G7 countries should support international cooperation and the nuclear supply chain, develop a financial environment that promotes investment in nuclear power and maximise international regulatory efficiency.

The statement said governments should establish policies that “clearly indicate to the global financial community that nuclear energy will play an important role to combat climate change and ensure sustainable development without having negative impact on the environment”.

Including nuclear power in international green and sustainable financing policies encourages investments in the deployment, expansion, and replacement of nuclear lants, the statement said.

The trade association said governments should support the development of innovative nuclear technology, promote public understanding of nuclear energy, collaborate internationally to share best practices and support countries that have newly introduced, or are considering, nuclear energy.

The statement was also signed by the Canadian Nuclear Association, the Japan Atomic Industrial Forum, the Nuclear Energy Institute (US), the Nuclear Industry Association (UK) and World Nuclear Association.

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