Time to go nuclear
To fi g h t c l i m at e change, Canada needs clean energy from a source that delivers carbon-free, reliable power 24/7. If we are to reach our greenhouse gas ( GHG) emissions reduction targets, nuclear power simply must be in the energy mix. Nuclear power already displaces over 80 million tons of greenhouse gas emissions annually in Canada. That’s equivalent to taking 15 million cars off the road each and every year.
Though Canada has a world- class nuclear industry, we’ve only scratched the surface of its potential. Traditional nuclear has a number of advantages but “new nuclear” — specifically small modular nuclear reactors (SMRS) — has the potential to generate consistent, clean, safe electricity in tandem with, and in most cases more reliably than, renewables. It could help cut GHG emissions in the oil and gas sector and also produce hydrogen, which may be the clean fuel of the future.
SMRS are fission reactors built at a smaller size and in larger numbers than most of the world’s existing nuclear fleet. They are what today’s phone or laptop is to the mainframe computer of decades ago. They can be mass-produced and shipped to remote, off- grid locations to produce clean energy. They have enhanced safety features and can replace diesel power generation in rural, remote and Indigenous communities. They can also have a major impact by providing power for largescale mining sites and by reducing emissions in oil and gas production in operations like the Alberta oilsands.
Unfortunately, misconceptions remain about nuclear that hinder its progress, including whether or not it is safe. The Canadian nuclear industry is one of the most closely monitored industries in the world. Major nuclear facilities are the most protected critical infrastructure in Canada. Not once has a nuclear incident caused a death in Canada. Very few other industries have such a strong health and safety record, particularly those that emit dangerous pollutants into the air that cause respiratory and cardiovascular illnesses.
Add to that Canada has one of the most promising domestic markets for SMRS, with conservative estimates of their potential value running at $ 5.3 billion between 2025 and 2040. They also represent a significant export opportunity. The global SMR industry is forecast to generate about $150 billion a year between 2030 and 2040.
Commercialization of SMR technology could lead to the creation of a profitable new energy industry and Canada has an opportunity to be a major player in that game.
Not only can SMRS provide technology to remote regions, they also represent an opportunity for Canada to make use of our abundant uranium deposits. This is especially important for northern, remote and Indigenous communities. SMR development will re- energize uranium producers like Cameco Corporation, whose northern Saskatchewan operations have employed nearly 800 Indigenous employees over three generations, making it one of the largest Indigenous industrial employers in the country.
The Cameco model of partnering with Indigenous communities is an example for other industries to follow. Under four community agreements with First Nations and Métis communities, the corporation procures the majority of its services for its operations from local businesses, including Indigenous businesses, pumping $3 billion into local economies since 2004. It’s also an example for the federal government to follow in charting a roadmap for SMR development — one that includes the active participation of Indigenous communities in decision- making, supply chains, employment and the ownership of projects.
Natural Resources Canada is currently working with interested provinces, territories, First Nations, power utilities and others to finalize an action plan to help unlock the SMR industry’s potential for the benefit of all Canadians. But the window for taking advantage of the international SMR market is a narrow one. China, Russia, the United States and France are all developing their own SMR technologies and gearing up to meet global demand. If Canada is to play in this game, we need to move promptly.
The privately organized Task Force for Real Jobs, Real Recovery, of which we are both members, supports the government’s initiative and urges Ottawa to expedite the development of the SMR action plan, which is expected to be unveiled later this year. Strong, co- ordinated support for seizing the SMR opportunity will enhance Canada’s competitiveness in the post- pandemic era and help rebuild our economy. We will be playing to one of our technological strengths as a Tier 1 nuclear nation, which is a country with a full spectrum of nuclear capabilities from uranium mining, research reactors, power reactor design and operation, nuclear medicine, food safety and fuel manufacturing capabilities. And we will be empowering future generations to continue to build a sustainable, prosperous society.
Nuclear power ... displaces
over 80 million tons of greenhouse gas emissions.