Major global banks and financial institutions back effort to triple nuclear energy by 2050

Image credit: nuclearenergytech.net

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Their hand has probably been forced by the emergence of electricity-hungry Artificial Intelligence, which will be way too much for intermittent renewables, promoted by the net zero crowd, to cater for. If these major players can’t process their vast amounts of data efficiently enough, or at all, due to power problems they can see where that goes for them, as the option of fuel-burning power stations is being choked off by many governments around the world under the sway of UN climate theories.
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NEW YORK, Sept. 23, 2024 /PR Newswire./ — Today, nations endorsing the Declaration to Triple Nuclear Energy launched at COP28 in 2023 were joined by 14 financial institutions who expressed support for the call to action to triple global nuclear energy capacity by 2050.

The group of financial institutions in the convening include: Abu Dhabi Commercial Bank, Ares Management, Bank of America, Barclays, BNP Paribas, Brookfield, Citi, Credit Agricole CIB, Goldman Sachs, Guggenheim Securities LLC, Morgan Stanley, Rothschild & Co., Segra Capital Management, and Societe Generale.

The financial institutions recognized that global civil nuclear energy projects have an important role to play in the transition to a low-carbon economy.

They further expressed support for long-term objectives of growing nuclear power generation and expanding the broader nuclear industry to accelerate the generation of clean electrons to support the energy transition.
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This expression of support for nuclear energy builds on the December 2023 outcome of the first global stocktake under the Paris Agreement, which included nuclear among the zero- and low-emission technologies that Parties should seek to accelerate, as well as the Declaration to Triple Nuclear Energy, launched at the 28th UN Climate Change Conference and endorsed by 25 countries.

“The only riddle left to solve is the financial side, the financial costs,” said Dr. Robert Golob, Prime Minister of Slovenia. “Financial markets need to adapt and develop new financial instruments in order for nuclear energy to become competitive with other CO2-free energy sources.”

Full article here.
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Image credit: nuclearenergytech.net