This is in line with the G7 commitment to deviate from fossil fuels, resulting in the need to invest in low-carbon technologies.
“Combining nuclear energy with renewables is proven to make rapid and long-lasting decarbonization of electricity generation an achievable goal,” the joint statement, signed by JAIF, the Canadian Nuclear Association, Nuclear Energy Institute, Nuclear Industry Association, Nucleareurope, and the World Nuclear Association, read.
“The construction and operation of each nuclear power plant generates thousands of high-skilled jobs, supports the supply chain, and stimulates local economies.”
Amongst the recommendations of the agencies include maximising existing nuclear reactors by incentivising the extension of their operating life; as well as the inclusion of nuclear energy in national and international green financing policies.
“Put in place policies that clearly signal to the finance community that the nuclear industry is set to play a key role in the global fight against climate change in not only G7 countriesbut also developing economies that are seeking modern, innovative means to shift away from fossil fuels as their energy demand is set to increase dramatically,” the statement also read.
Moreover, the agencies raised that ambitious goals for new nuclear capacity should be supported by efficient regulatory frameworks and pragmatic policy instruments.