Nuclear Energy: A Climate Lever to Finance, Advocates the IAEA at COP29

At COP29, Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), emphasizes the inclusion of nuclear energy in climate financing, while targeting a regulated access approach for developing countries.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

The debate surrounding the role of nuclear energy in combating climate change has reached a critical point at COP29. Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), advocates for inclusive financing for nuclear energy, considered essential to achieving global decarbonization goals.

In an interview with AFP, Mr. Grossi highlights that accelerating the development of this energy source requires funding from international institutions. He explains that despite progress in discussions with stakeholders like the World Bank and the European Bank for Reconstruction and Development (EBRD), political and cultural resistance still hinders the integration of nuclear energy into climate plans.

Support for Developing Countries

The Director General of the IAEA emphasizes the specific needs of countries in the Global South. Nations such as Ghana, Kenya, and Morocco are considering adopting small modular reactors (SMRs), seen as a solution tailored to their capabilities and decarbonization ambitions. In Asia, countries like Malaysia and the Philippines are also exploring these options.

However, developing nuclear infrastructure demands strict safety and regulatory frameworks. According to Mr. Grossi, the IAEA plays a crucial role in assisting countries new to nuclear energy by providing structured programs to ensure responsible and secure projects.

An Inspiring Example: The United Arab Emirates

The IAEA highlights the United Arab Emirates as a successful example for newcomers to nuclear energy. Although the country previously lacked nuclear infrastructure, it was able, with the IAEA’s support, to establish a solid program comprising 19 steps to achieve safe and reliable operational capacity.

This approach, according to Rafael Grossi, demonstrates that even countries with no nuclear tradition can adopt this technology, provided they dedicate the necessary resources and adhere to strict standards.

Perspectives for Eastern Europe

Beyond developing nations, Eastern Europe is also identified as a favorable ground for nuclear expansion. European funding could help these nations reduce their energy dependence, particularly on dominant suppliers, while meeting climate targets.

The IAEA continues to advocate for a well-regulated and rigorous vision of nuclear energy, emphasizing the need for financial means to support its development and ensure the safety of projects.

The General Court of the European Union has rejected Austria’s appeal against the inclusion of gas and nuclear energy in the classification of sustainable investments.
Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
The European Court of Justice annulled the European Commission's authorisation of Hungarian state aid for the Paks II nuclear project, questioning compliance with EU public procurement rules.
A Chinese consortium has secured a CNY4.2bn ($594mn) contract for the construction of conventional islands for the Xuwei nuclear project, combining third and fourth generation reactors.
Rosatom and China National Nuclear Corporation signed a memorandum of understanding to strengthen bilateral cooperation in talent development and skills training in the nuclear sector.
Iran has reached a new agreement with the International Atomic Energy Agency to formalise the resumption of inspections, following months of suspension linked to military tensions and criticism of its nuclear programme.
The French Energy Regulatory Commission outlines a structured plan to accelerate the deployment of small modular reactors, focusing on industrial heat and series effects to enhance competitiveness.
US-based Nuclearn has secured $10.5mn to scale its artificial intelligence platform, already deployed in over 65 nuclear reactors, to automate critical operations amid rising energy demand.
The steel dome of the CAP1000 Haiyang 4 reactor has been positioned, a major construction milestone paving the way for upcoming maintenance and technical installation phases.
The Groupement des Industriels Français de l'Énergie Nucléaire and the Belgian Nuclear Forum formalise a partnership aimed at strengthening industrial exchanges and joint projects between the two countries’ nuclear sectors.
The International Atomic Energy Agency warns that little time remains to reach an agreement with Iran on fully resuming inspections, as European sanctions could be reimposed within 30 days.
Slovenia’s JEK2 project moves forward with two nuclear technologies judged technically compatible, estimated between EUR9.31bn ($10.1bn) and EUR15.37bn ($16.66bn).
US-based Oklo will build the country’s first privately funded nuclear fuel recycling centre in Oak Ridge, investing $1.7bn and creating over 800 jobs.
The Tennessee Valley Authority partners with ENTRA1 Energy to develop up to 6 gigawatts of modular nuclear capacity, in an unprecedented project supporting energy growth across seven U.S. states.
A report by the International Atomic Energy Agency puts Iran’s 60% enriched uranium at 440.9 kg before Israeli and U.S. strikes, while the agency’s access to enrichment sites has remained suspended since the operations.
US-based Westinghouse has signed six industrial agreements in the UK to supply critical components for its AP1000 and AP300 nuclear projects in Britain and abroad.
NANO Nuclear Energy receives direct funding from the US Air Force innovation branch to assess the integration of its KRONOS MMR™ microreactor at the Washington D.C. military base.
EDF extends the operation of Heysham 1 and Hartlepool by one year after favourable safety inspections, ensuring continuity of nuclear production and safeguarding more than 1,000 jobs.
Russian nuclear group Rosatom has confirmed advanced discussions with India and Turkey to launch new power plants, including advanced and floating reactor technologies.
The International Atomic Energy Agency has identified uranium particles of industrial origin in samples taken from a Syrian site suspected of hosting an undeclared nuclear reactor.

Log in to read this article

You'll also have access to a selection of our best content.