Jessica Lovering and I argue that to accelerate the energy transition and counter Russia’s influence in emerging countries, development banks must start financing nuclear energy.
1 thought on “Development Banks Must Embrace Nuclear Energy. Project Syndicate”
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This article advances the usual arguments in favour of nuclear energy and as usual ignores the alternatives. Constraints posed by the Ukraine situation are naturally used to the same purpose. There is no mention at all of the demand side reductions option of energy efficiency and energy saving (two different things), which is in many cases far cheaper, creates far more jobs, and is THE ONLY alternative that is totally reliable and totally without risks. The well-researched “energy descent” path could largely (not entirely) eliminate the need for building new power stations – in industrialised countries. As for developing countries, the increased risks of corruption, faulty procurement and suboptimal function are not mentioned – certainly a very major risk factor in South Africa.
Nor is there mention of the fact that nuclear power is now MORE EXPENSIVE in most contexts than wind and solar. As for “rapid technological advances” in nuclear, many will dispute this.
Finally, the authors urge developing countries to seek “alternatives to Russian and Chinese technologies and financing”. Personally I might largely agree with that, but it simply suggests that these two authors have their loyalties planted solidly and subjectively in the camp of the USA.
My view is based on a lifetime of work within sustainability, and arrives at very different conclusions.