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Effective URL: https://www.nasdaq.com/articles/at-cop27-nuclear-power-industry-vies-for-role-in-decarbonizing-planet
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Submission: On December 19 via api from US — Scanned from US
Effective URL: https://www.nasdaq.com/articles/at-cop27-nuclear-power-industry-vies-for-role-in-decarbonizing-planet
Submission Tags: falconsandbox
Submission: On December 19 via api from US — Scanned from US
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AT COP27, NUCLEAR POWER INDUSTRY VIES FOR ROLE IN DECARBONIZING PLANET
Credit: REUTERS/STEPHANE MAHE
November 09, 2022 — 09:09 am EST
Written by Richard Valdmanis, Sarah McFarlane, Valerie Volcovici for Reuters ->
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By Richard Valdmanis, Sarah McFarlane and Valerie Volcovici
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The US States People Are Fleeing And The Ones They Are Moving ToForbes
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SHARM EL-SHEIKH, Egypt, Nov 9 (Reuters) - Nuclear energy supporters including
politicians and activists sought to polish the industry's spotty image on
Wednesday, using the COP27 climate summit in Egypt to argue that atomic power
offers a safe and cost-efficient way to decarbonize the world.
Rising concerns about the swift pace of climate change and tight power supplies
around the globe have softened some policy makers view of nuclear energy, an
industry that has struggled for years to draw investment because of worries
about safety, radioactive waste, and huge costs for building a reactor.
The International Atomic Energy Agency, an intergovernmental organization that
seeks to promote nuclear power, opened an exhibit at the U.N. climate gathering
of global leaders in Egypt – its first time doing so in 27 years of the annual
international climate negotiations. The showcase – expounding the technology's
potential in the fight against climate change.
"Many countries faced with sharply rising energy costs and heightened security
of supply concerns are turning to nuclear power," the IAEA said in a release
announcing the exhibit.
U.S. Special Climate Envoy John Kerry, meanwhile, pumped up the industry on
Tuesday at a news conference at the summit announcing the U.S. Export-Import
Bank (EXIM)'s formal interest in providing $3 billion in financial support for a
nuclear plant in Romania.
"We have a viable alternative in nuclear ... This is one of the ways in which we
can achieve net-zero," he told reporters, referring to an international target
of cutting net greenhouse gas emissions to zero by 2050. "We don't get to net
zero by 2050 without nuclear power in the mix."
The United States has already earmarked billions of dollars toward keeping
existing nuclear power plants open as part of a broader strategy to decarbonize
the economy and is hoping to encourage .
The nuclear power industry has had trouble raising money in recent years, having
taken a huge public relations hit following the 2011 reactor meltdown at the
Fukushima power plant in Japan. Russia’s invasion of Ukraine has further raised
concerns about nuclear safety with sporadic fighting and power cuts at the site
of the Zaporizhzhia plant.
Oleksii Riabchyn, advisor to the Ukraine government on green energy, told
Reuters at the summit that he thought the country's reactors required a missile
shield to protect them.
Even so, Hannah Fenwick, the co-lead of Nuclear for Climate which represents a
network of 150 associations advocating for governments to embrace nuclear power,
said her organization was lobbying policy-makers at COP27 to consider nuclear
energy investments and was getting decent feedback.
"We have been saying that nuclear is a solution for climate for many years and
the geopolitical climate has changed and people are now listening," she said.
America's new nuclear power industry has a Russian
problemhttps://www.reuters.com/business/energy/americas-new-nuclear-power-industry-has-russian-problem-2022-10-20/
(Reporting by Richard Valdmanis, Sarah McFarlane and Valerie Volcovici; Editing
by Katy Daigle and Frank Jack Daniel)
((richard.valdmanis@thomsonreuters.com; +1 617 312 6022; Reuters Messaging:
richard.valdmanis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author
and do not necessarily reflect those of Nasdaq, Inc.
Tags
World Markets
Reuters
Reuters, the news and media division of Thomson Reuters, is the world’s largest
international multimedia news provider reaching more than one billion people
every day. Reuters provides trusted business, financial, national, and
international news to professionals via Thomson Reuters desktops, the world's
media organizations, and directly to consumers at Reuters.com and via Reuters
TV.
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