Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050
Published
Yesterday, 23 September, Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch took part in a meeting between ministers and other high representatives of countries that backed a COP28 declaration on the need to triple production of nuclear energy by 2050. In conjunction with the meeting, global banks and financial institutions backed the countries’ ambition to increase production of electricity from nuclear energy.
During the meeting, discussions touched on how to proceed from the declaration and how the countries could jointly realise this collaboration. Representatives of global banks and financial institutions took part in discussions on how to finance large-scale expansion.
“One of the greatest obstacles to the necessary expansion of nuclear energy is to secure financing. Governments, financial institutions and industry have critical roles to play in this endeavour. I am delighted by this decision, which attests to the shared view of nuclear energy’s importance among both governments and the financial sector,” says Ms Busch.
Countries that support the declaration
Sweden, Armenia, Bulgaria, Canada, Croatia, Czechia, Finland, France, Ghana, Hungary, Jamaica, Japan, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, South Korea, Ukraine, the United Arab Emirates, the United Kingdom and the United States.
Background
Interest for new nuclear energy is growing rapidly in many countries, including here in the EU. This applies both to countries that already have nuclear energy and those who had previously held a neutral or sceptical view of the technology. More and more countries are realising that everyone needs to secure fossil-free energy – both renewable and nuclear – to succeed in the green transition, strengthen competitiveness and achieve the climate goals. Major energy price increases following Russia’s invasion of Ukraine have also illustrated the importance of democratic countries not being reliant on dictatorships.
Press contact
Press Secretary to Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch
Mobile 076-1251709
email to Mia Widell
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