Energy Gang

A nuclear COP?

Dec 11, 2023

The nuclear industry takes center stage at COP 28, with discussions on the goal of tripling global nuclear power by 2050. Small modular reactors (SMRs) receive attention and support from the US export-import bank. The challenges and successes of nuclear power are explored, including competition from renewables. SMRs are positioned as a key player in the future of nuclear energy, with potential applications in replacing coal power plants. Financing and regulatory challenges are discussed, with emphasis on investor expectations and collaboration with the finance community.

46:35

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Quick takeaways

Nuclear power has gained significant prominence at the COP 28 climate talks, with discussions and commitments highlighting its importance in addressing climate change.

The goal of tripling global nuclear power capacity by 2050 is achievable with strategic planning and investments, including the utilization of small modular reactors (SMRs) with their potential for replacing coal plants and powering energy-intensive industries.

Deep dives

Growing Prominence of Nuclear Power at COP 28

Nuclear power has gained significant prominence at the COP 28 climate talks, with discussions and commitments highlighting its importance in addressing climate change. The United Arab Emirates' pioneering efforts in nuclear power and the construction of four reactors to meet 25% of its electricity demand have contributed to this increased attention. Notably, 24 governments, including France, Japan, the US, and the UK, have set a goal to triple worldwide nuclear power generation capacity by 2050. This commitment demonstrates a growing recognition of nuclear energy's central role in achieving net-zero emissions. Moreover, the nuclear industry is seeking international investments and financial support to meet these objectives.

Introduction

2min

Commercial Opportunities for Small Modular Reactors and the Importance of Nuclear Power at the COP

2min

The Goal to Triple Global Nuclear Power by 2050

7min

The Challenges and Successes of Nuclear Power

6min

The Role of Small Modular Reactors in the Future of Nuclear

2min

Financing Challenges in the Nuclear Power Industry

17min

The Importance of Small Modular Reactors (SMRs) in the Future of Nuclear Energy

4min

Financing New Nuclear Technologies

7min

Nuclear energy has been in the headlines more in Dubai, than at any previous COP.

Nuclear power has had more prominence at this year’s climate talks than at any previous COP. In fact, some people have even been calling it “the nuclear COP”.

That’s partly because the hosts, the United Arab Emirates, have been a pioneer of nuclear power in the Gulf region, building four reactors to meet 25 per cent of its electricity demand. At this year’s COP, 24 governments set a goal to triple worldwide nuclear power generation capacity by 2050. To discuss the implications of this pledge, and analyse the current state of the nuclear industry globally, Ed Crooks is joined by Henri Paillere, who is head of the planning and economic studies section at the International Atomic Agency. He says there is now a much wider appreciation of the central role that nuclear power can play in tackling climate change.

Nuclear technology is also seen as offering some big commercial opportunities. The EX-IM Bank, the US export – import bank, recently launched a package of measures intended to support sales of US Small Modular reactors – SMRs. Reta Lewis, chair of the Ex-Im bank came to the COP and spoke to the Energy Gang, to highlight the bank’s support for SMR investment around the world.

SMRs are expected to play a key role in the future of nuclear energy, as Dr Sama Bilbao y Leon, who is the director-general of the World Nuclear Association, which represents the international nuclear industry, said when she joined Ed in the studio.

We’ll be following the latest developments from COP28 right to the end of the summit, so subscribe and join the conversation – we’re @theenergygang.

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Energy Gang

A nuclear COP?

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Growing Prominence of Nuclear Power at COP 28

Challenges and Realism of Tripling Nuclear Power Capacity

Importance of Financing and Market Recognition for Nuclear Power

Small Modular Reactors (SMRs) and the Future of the Nuclear Industry

Remember Everything You Learn from Podcasts