Global banks and financial institutions support to triple nuclear energy by 2050

During Climate Week in New York City, fourteen major global banks and financial institutions expressed their support for the effort to triple installed nuclear power by 2050. This support would give a massive boost to the potential of nuclear energy the generation of electricity and heating systems with zero emissions, which is aligned with the decarbonization goal.

The institutions that support the call to triple installed nuclear power by 205o are 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 Société Générale. With this endorsement, they join the nations that signed the Declaration to Triple Nuclear Energy launched at COP2023. 

These financial institutions consider that nuclear power is crucial for climate neutrality, as they produce large quantities of energy without generating polluting emissions. They also expressed their support to the long-term goals of increasing nuclear generation and expanding the nuclear industry to support energy transition.

Voices supporting nuclear power during Science Week in New York:

• "Our collective mission is clear: nuclear energy is clean energy, and if we are to ensure a liveable planet, build secure, sustainable supply chains for clean energy and bolster prosperity around the world, we need to make sure that nuclear energy does its part," declared ohn Podesta, Senior Advisor to the President for International Climate Policy.
• "The only riddle left to solve is the financial side, the financial costs,"  said Robert Golob, Prime Minister of Slovenia.
• "It is time to take concrete action towards necessary expansion of nuclear energy," according to Ebba Busch, Swedish Minister of Energy, Commerce and Industry and Vice President.
• “A number of nations are now operating highly advanced and commercially viable third and fourth-generation fission technologies,” said James Schaefer, senior managing director of Guggenheim Securities.
• "Including nuclear energy as a zero-carbon technology alongside renewables is essential to meeting the world's carbon reduction goals and ensuring a reliable and clean electricity supply to continue growing, prospering and providing high-paying jobs," indicated Benjamin M. Pickett, Vice President and General Manager of Public Affairs and Government Relations at Nucor corporation.
• "With the support of 14 global banks and financial institutions, it is clear that not only is nuclear energy viewed as a crucial enabler to decarbonize the power sector, but it also fits the profile for sustainable and transition financing, especially as we now see multiple nuclear plants being delivered efficiently, providing confidence to the market and a clear signal that nuclear is a proven, bankable route to energy security and net zero," added Mohamed Al Hammadi, Managing Director and CEO of the Emirates Nuclear Energy Corporation and Chairman of World Nuclear Association.

All these voices are joined by many others both nationally and internationally which have recently expressed their support to the necessary presence of nuclear in the energy mix in order to fulfill climate goals without risk to the electric supply, to the global impulse that this source of power generation is experiencing in many countries with long-term operation of their reactors, and/or the construction of new units, and to the renewed interest in technological companies for the development of artificial intelligence.