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 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.
Norwegian authorities begin the first regulatory phase for two modular nuclear reactor projects, marking a strategic step in the national review of the potential role of nuclear energy in the country’s power mix.
With eleven reactors under construction and major projects such as Jaitapur, India is preparing a nuclear build-up that could place it among the world’s five leading nations in the sector.
France and Germany have validated a joint energy roadmap, including a commitment to the non-discrimination of nuclear energy in European financing.
Russia and Iran seek to strengthen their nuclear cooperation as the E3 activates the sanctions mechanism against Tehran, reigniting tensions over compliance with the 2015 Vienna agreement.
US-based Natura Resources has secured strategic funding and key permits for its MSR-1 nuclear reactor, backed by public funds and enriched fuel allocation from the Department of Energy.
The United States and South Korea have agreed to initiate discussions on reprocessing spent nuclear fuel, marking a potential strategic shift in the long-standing bilateral agreement.
The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.
Nano Nuclear Energy has signed a memorandum of understanding with Dioxitek, Argentina’s only uranium supplier for nuclear fuel, to assess the development of local conversion and enrichment capacities.
Stockholm plans to restart uranium extraction by lifting the 2018 ban, aiming to secure strategic supply chains and support domestic nuclear electricity production.
The French Atomic Energy Commission has signed a letter of intent with start-up Calogena to study the installation of a 30 MW thermal small nuclear reactor at its Cadarache site.
A Guidehouse Research report anticipates strong growth in the global nuclear modular reactor market, with revenues rising from $375.8 million in 2025 to $8.1 billion in 2034.
KHNP, Doosan, POSCO and Samsung C&T join US partners to develop 5 GW of modular reactors, expand uranium enrichment and build an 11 GW energy complex in Texas.
The US Department of Energy is creating an industrial consortium to accelerate domestic enriched uranium production and reduce reliance on foreign imports ahead of the Russian supply ban in 2027.

Log in to read this article

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