At the UN Climate Change Conference (COP28), in Dubai, the United States, represented by U.S. Under Secretary of State for Arms Control and International Security Bonnie Jenkins and U.S. Export-Import Bank Chair Reta Jo Lewis, has revealed strategic measures aimed at accelerating the adoption of advanced nuclear energy systems worldwide.
These initiatives are designed to bolster climate and energy security objectives while reinforcing the nation’s commitment to achieving net-zero goals.
To meet the escalating global interest in U.S. small modular reactor (SMR), nuclear energy systems, the Export-Import Bank of the United States (EXIM) and the U.S. Department of State have jointly introduced a comprehensive suite of financial tools.
The EXIM Board of Directors, on November 30, 2023, approved a Resolution in Support of SMR export financings. This resolution encompasses a robust set of export finance tools that, for qualifying transactions, will facilitate the export of secure and safe U.S. SMR designs.
The initiative aims to empower U.S. exporters to effectively compete in the burgeoning global market. The EXIM SMR Financing Toolkit details can be accessed here
In a parallel announcement, the United States, in collaboration with Canada, Japan, France, and the United Kingdom—collectively known as the “Sapporo 5″—has declared their shared commitment to advancing zero-carbon, peaceful nuclear energy.
The Sapporo 5 nations pledged to expand nuclear fuel production capacity across reliable, high-quality suppliers impervious to manipulation and undue influence.
The coalition aims to mobilize a minimum of USD $4.2 billion in government-led and private investments over the next three years.
This funding will be directed towards enhancing enrichment and conversion capacity, with a long-term vision of attracting additional private sector financing.
The Sapporo 5 nations extend an invitation to like-minded nations to join forces in securing the global uranium supply chain.
Affirming its dedication to supporting diverse clean energy technologies, including nuclear power, the United States aims to play a pivotal role in propelling global decarbonization efforts.
The overarching goal is to provide energy security and independence to international partners, fostering a sustainable and resilient energy landscape for the future.
