The impact of climate change is becoming increasingly evident. Droughts, floods, and fires are telling us we need to act decisively and at scale.
In the global effort to decarbonize energy, industry and transport, progress is being made, especially in recognising the crucial role of nuclear energy.
Nuclear’s inclusion in the Global Stocktake published during last year’s UN Conference on Climate Change, COP28, in Dubai was nothing short of historic. For the first time since the inaugural climate summit was held in 1995, the 198 signatory countries to the UN Framework Convention on Climate Change (UNFCCC) officially called for hastening the deployment of nuclear. In addition, more than 20 countries pledged to work towards the goal of tripling global nuclear power capacity to help reach net zero by 2050.
In March 2024, the IAEA and the Government of Belgium organized the world’s first Nuclear Energy Summit, with leaders from more than 30 countries and the European Union gathering in Brussels to highlight concrete steps towards accelerating nuclear power to achieve energy security, meet climate goals and foster sustainable development. This first-ever nuclear energy summit marked a turning point and laid out clearly what needed to happen, from setting the conditions necessary for investment to ensuring no country was left behind.
On the back of this momentum, the IAEA has raised its projections for nuclear electrical generation for a fourth year in a row. In the high-case scenario, there will be two and a half times more global nuclear capacity in 2050 than there is today, and a quarter of the growth will come from Small Modular Reactors (SMRs).
Around the world newcomer countries are looking to nuclear and countries with established programmes are extending the lives of nuclear power plants and building more. Technology companies needing to fuel energy-hungry data centres without increasing harmful emissions are making deals with actors in the nuclear sector, including established providers of nuclear-generated electricity and SMR start-ups.
This edition of the Bulletin surveys the current nuclear power landscape, illustrating recent successes and what still needs to be done so that nuclear power meets those projections. From growing the workforce, to streamlining processes and enabling faster reactor deployments, the path ahead of us is clearly illuminated. To accomplish our goals, we must act with intention and follow through on our stated global intentions. The world needs more nuclear energy, now it is time to deliver.
