· 2 min read
Illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:
🗞️ Driving the news: Institutional investors with $37tn under management show minimal interest in nuclear energy investments, preferring renewables and other climate technologies
• The Investor Group on Climate Change's survey reveals nuclear energy's low appeal due to high costs and technology maturity concerns
🔭 The context: The survey highlights a rebound in confidence in Australia's climate policies and a clear preference for a phased-out approach to coal, oil, and gas
• Opposition leader Peter Dutton's nuclear energy proposal faces significant criticism and opposition, even within his own ranks.
🌍 Why it matters for the planet: The investors' disinterest in nuclear energy underscores the growing consensus on the economic and practical viability of renewable energy sources over nuclear power
• This shift is crucial for sustainable development and combating climate change.
⏭️ What's next: Investors are urging the Australian government to prioritize decarbonization plans, improved carbon pricing, and the phase-out of fossil fuel subsidies
• These steps are seen as essential for attracting investment in climate solutions and ensuring a sustainable transition to net zero emissions.
💬 One quote: "Investors have given the government a pretty good report card," said Erwin Jackson, managing director of policy at the Investor Group on Climate Change, highlighting the importance of credible policy frameworks for future investments
📈 One stat: Only fewer than one in 10 investors were exploring new investments in nuclear technology, placing it last among climate solutions in terms of investor interest
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