• UGI USER
  • Mar 22, 2024
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NUCLEAR ENERGY: FIXING THE FINANCE

Why in the news?

Nuclear Energy Summit in Brussels highlights nuclear’s role in climate action; calls for reform in financing nuclear projects.

About the Urgency for Nuclear Financing Reform:

  • The inaugural Nuclear Energy Summit in Brussels, co-hosted by Belgium’s PM and the IAEA Director General, emphasised the crucial role of nuclear energy in combating climate change.
  • The UN Climate Change Conference in Dubai highlighted nuclear energy’s necessity, aiming to triple its capacity by 2050 to meet climate goals.
  • Despite nuclear energy’s low carbon emissions and potential, financing from Multilateral Development Banks (MDBs) and private investors remains minimal, urging a reassessment of financing policies to incorporate private capital or blended finance models.
source:medium
What is Nuclear Energy?

●   Nuclear energy is generated by splitting atoms in a reactor to produce heat, which is used to generate electricity.

●   Nuclear reactors use uranium-235 to fuel chain reactions, producing heat through fission.

●   Nuclear power generation emits zero greenhouse gases or air pollutants.