Atomic energy ‘to save’ planet
NUCLEAR energy supporters including politicians and activists sought to polish the industry’s spotty image yesterday, using the COP27 climate summit in Egypt to argue that atomic power offers a safe and cost-efficient way to decarbonise the world.
Rising concerns about the swift pace of climate change and tight power supplies around the globe have softened some policymakers’ view of nuclear energy, an industry that has struggled for years to draw investment because of worries about safety, radioactive waste, and huge costs for building a reactor.
The International Atomic Energy Agency (IAEA), an intergovernmental organisation that seeks to promote nuclear power, opened an exhibit at the UN climate gathering of global leaders – a first in 27 years of the annual international climate negotiations – expounding the technology’s potential to fight climate change.
“Many countries faced with sharply rising energy costs and heightened security of supply concerns are turning to nuclear power,” the IAEA said.
US Special Climate Envoy John Kerry, pumped up the industry on Tuesday at a news conference at the summit, announcing the US Exportimport Bank’s formal interest in providing $3 billion (about R53bn) in financial support for a nuclear plant in Romania.
“We have a viable alternative in nuclear ... This is one of the ways in which we can achieve net-zero,” he told reporters, referring to an international target of cutting net greenhouse gas emissions to zero by 2050.
“We don’t get to net zero by 2050 without nuclear power in the mix.”
The US has earmarked billions of dollars toward keeping existing nuclear power plants open as part of a broader strategy to decarbonise the economy and hopes to encourage new projects.
Kerry announced plans yesterday for companies to buy carbon credits to support countries switching out of coal power. He said companies
including Microsoft and Pepsico were involved in the plans, while countries and environmental groups were also supportive. Fossil fuel companies were excluded, however, he said.
Kerry said UN Secretary General António Guterres was supportive of a Us-led carbon market initiative, provided there were safeguards to it. The two met yesterday at COP27. The US also sought to reassure the UN climate summit that it would stick to its energy transition even if Republicans triumph in midterm elections.
The COP27 talks have been dominated by calls for all nations to step up their commitments to cut greenhouse gas emissions, and for rich ones to fulfil pledges to financially help the developing world to green their economies and build resilience.
Poor and climate-vulnerable economies devastated by natural disasters have demanded compensation for
damages already incurred, with calls for a windfall tax on the profits of oil companies to help pay.
Meanwhile, South Africa’s President Cyril Ramaphosa has appealed to Western leaders at the summit to honour their commitments.
Africa needs to build adaptive capacity, foster resilience and address loss and damage as agreed at Paris COP21 in France some years ago, Ramaphosa told fellow world leaders in Egypt.
Delivering South Africa’s statement on Tuesday, Ramaphosa said to achieve this the African continent would need a predictable, appropriate and at-scale funding stream and technological support. This must support the continent’s right to development, international equity and transitions that are just and inclusive.
“This places a great responsibility on developed economies to honour
their commitments to those countries with the greatest need and that confront the greatest environmental, social and economic effects of climate change,” Ramaphosa said. “The commitments that were made must be honoured because failing to honour these commitments, breaks trust and confidence in the process.”
Developed nations promised in 2015 that they would provide developing countries $100bn annually for use in mitigating the effects of climate change but until now no finances have been advanced to them.
Ramaphosa called for multilateral development banks to be reformed in order to meet the needs of developing economies for sustainable development and climate resilience.
He emphasised that a clear roadmap is needed to deliver on the Glasgow 2021 decision to double adaptation financing by 2025. |