Discussions focused on the progress of the international declaration made at COP28 in Dubai in 2023\u2014to triple global nuclear power capacity by 2050\u2014and on the role of nuclear energy in accelerating the clean-energy transition. The number of signatories to the tripling declaration has now expanded to 33 countries, with Senegal and Rwanda joining last week. In addition, two more major financial institutions\u2014STEFL and CIBC\u2014have joined the 16 institutions that pledged to provide financing for new nuclear projects.<\/p>\n
In the keynote address, Prof. ARIMA Jun (Project Professor, Graduate School of Public Policy, University of Tokyo) stated that against the backdrop of the war in Ukraine, escalating tensions in the Middle East, intensifying climate change, and surging electricity prices, nuclear energy is being reevaluated as a realistic option capable of simultaneously ensuring energy security, decarbonization, and price stability. He added that Japan\u2019s shift in the Strategic Energy Plan toward a \u201ccomprehensive approach\u201d combining nuclear and renewables aligns with global trends.<\/p>\n
WNA\u2019s Senior Programme Lead for Climate, Jonathan Cobb, provided a preview of the World Nuclear Outlook 2025<\/em>, released on November 14. He noted that global electricity demand will grow significantly due to population increases and rapid advances in AI and digitalization. He further reported that with lifetime extensions of existing reactors and the addition of units under construction or planned, global nuclear capacity could feasibly reach 1.2 TWe by 2050. However, he stressed that \u201cachieving the tripling goal requires swift, coordinated action from governments, industry, financial institutions, and regulators,\u201d and emphasized the need not only to expand power-generation capacity but also to extend nuclear\u2019s use into industrial heat applications and off-grid systems, together with strengthening all stages of the fuel cycle\u2014mining, conversion, enrichment, and fuel fabrication.<\/p>\n During the subsequent panel discussion, JAIF President & CEO MASUI Hideki highlighted the significance of Japan signing the tripling declaration: \u201cIt has provided a strong tailwind to Japan\u2019s energy policy, supporting the shift from \u2018reducing dependence on nuclear\u2019 to \u2018maximum utilization of nuclear.\u2019\u201d He added that as nuclear\u2019s role becomes globally clearer, \u201cmomentum for nuclear deployment and international cooperation is growing, creating new expectations within Japanese industry for sustaining supply chains and expanding exports.\u201d<\/p>\n On domestic developments, Masui explained that public support for nuclear energy in Japan \u201chas been steadily recovering since the Fukushima Daiichi accident,\u201d amid rising concerns over energy security, increased electricity prices, and renewed recognition of nuclear as a decarbonization technology. He also pointed out that in regions where reactors have restarted, suppressing electricity prices has become apparent, and that \u201cstructural changes surrounding nuclear energy are now underpinning Japan\u2019s new energy policy.\u201d<\/p>\n Answering a question on how Japan\u2019s financial institutions, public-private partnerships, and international cooperation can contribute to accelerating investment across the entire nuclear value chain, Masui noted that Japan is reviewing its frameworks for financing and cost recovery for new nuclear construction. The liberalized electricity market has made long-term investments\u2014from construction to decommissioning\u2014difficult, but new government financial support and the long-term revenue guarantee scheme starting in 2024 are opening the path to new-build projects. He also stressed that the policy shift and Kansai Electric\u2019s resumption of geological surveys indicate that new construction\u2014halted since Fukushima\u2014is becoming a realistic possibility once again. Masui highlighted JAIF\u2019s Nuclear International Cooperation Center (JICC), which provides training and assistance to countries seeking to introduce nuclear energy, and concluded: \u201cInternational cooperation that spans governments, industry, finance, and civil society is the key to delivering on the tripling declaration.\u201d<\/p>\n From the floor, participants voiced the need for system-level improvements such as transmission-grid reinforcement, investment frameworks, and human-resource development to expand nuclear and other low-carbon power sources. While the pathway to tripling nuclear capacity is gradually taking shape, the next crucial phase is \u201cmoving from declaration to implementation.\u201d<\/p>\nN4C Releases Position Paper at COP30<\/strong><\/h2>\n