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illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: EU leaders from 11 member states endorsed a declaration supporting nuclear energy at a Brussels conference, aiming to secure funding from development banks for both new and existing nuclear power projects
• The declaration emphasizes nuclear power as a zero-emission source essential for energy security and climate change mitigation
🔭 The context: The conference, which attracted over 400 attendees including CEOs, scientists, and political figures, saw nations like Belgium, France, and Sweden, among others, advocate for greater nuclear energy integration within the Environmental, Social, and Governance (ESG) policies
• This move seeks to address the EU's energy crisis and reduce dependency on external fuel sources
🌍 Why it matters for the planet: Nuclear energy is highlighted as a pivotal component in achieving the EU's climate goals, offering a pathway to decarbonize energy systems while ensuring energy security and competitiveness
• The focus is on advancing reactors, including small modular reactors (SMRs), and ensuring resource security for the nuclear energy supply chain
⏭️ What's next: The declaration calls for enhanced cooperation and financial support from governments and multinational development banks to expedite nuclear projects
• This includes developing a strategy for nuclear fusion and incorporating nuclear energy into the EU's broader energy strategy, emphasizing its role alongside renewable energy sources
💬 One quote: "Investments need to accelerate and governments need to step up support to ensure financing is available," (Commission President Ursula von der Leyen)
📈 One stat: Croatian Prime Minister Andrej Plenkovic announced an investment of €300m to maintain nuclear plant operations until 2043, signaling significant financial commitments toward nuclear energy sustainability
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