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BRUSSELS -

As European Union leaders prepared for European Council discussions in Brussels, the first nuclear energy summit was held in the Belgian capital this week, to highlight the role of nuclear energy in confronting global challenges, reducing the use of fossil fuels and promoting energy security and economic development.

In the presence of heads of state, leaders of international organizations and delegations from 36 countries that already own nuclear plants or plan to establish them, the leaders of European countries in particular affirmed their commitment to rebuilding European industry after years of gradual decline by reviving nuclear energy.

So that political pressures to expand nuclear energy do not spoil the hopes of achieving climate goals and energy sufficiency, these countries are seeking to boost investment, cover costs, and overcome the delays that many projects suffer in joint discussions in front of the Atomium Building (the memorial that was built in 1958 for the International Exhibition in... Brussels).

Leaders of countries and heads of international agencies outside the exhibition building in Brussels before the start of the Nuclear Energy Summit (Al Jazeera)

First summit

Co-chaired by Belgian Prime Minister Alexander De Croo and Director General of the International Atomic Energy Agency, Rafael Mariano Grossi, the summit focuses exclusively on the issue of nuclear energy.

When asked about the reasons for the low Arab participation in a global event of this importance, the Belgian Prime Minister explained to Al Jazeera Net that Egypt and the Kingdom of Saudi Arabia represent the countries of the Arab world, stressing that the inclusion of a larger number of them “will be tantamount to an assignment that will be taken into consideration during the next summit,” while avoiding De Croo and Grossi answer the question regarding the Iranian nuclear agreement.

Regarding concerns that the revival of nuclear energy would be in Moscow's interest, given the dependence of many European countries on Russian supplies of nuclear fuel, Grossi said, "It is the responsibility of governments to adapt supply chains to cut off contact with Russian supplies, but doing so in a safe and reliable manner takes a lot of time." Of time.

During the summit, the Executive Director of the International Energy Agency, Fatih Birol, stressed the necessity of supporting nuclear energy “to achieve our climate goals on time,” indicating the necessity of taking this step, especially in countries that do not have high capabilities of renewable energy sources, especially solar energy.

This unprecedented event coincides with increasing warning signs around the world about climate change, making the need to achieve carbon neutrality and net-zero greenhouse gas emissions urgent in industry, transportation and electricity.

Investment promotion

The Summit aims mainly to strengthen efforts to facilitate the mobilization of public and private investments towards additional nuclear energy projects, and concrete measures to support nuclear energy will include tools such as direct public financing, guarantees to debt and equity providers, revenue-sharing schemes and pricing risks.

Participants called for nuclear energy to be further included in “environmental, social and governance” (ESG) policies in the international financial system, taking into account that it is one of the zero-emission energy sources that can contribute significantly to decarbonization and promote sustainable economic development.

To ensure the availability of skilled professionals in the nuclear sector in the future, the meetings touched on the importance of contributing more to nuclear education and research, as well as training a large and motivated workforce. Investing in skills - including re-acquisition through education and research - is crucial for the sector.

This summit follows the historic inclusion of nuclear energy in the global assessment agreed upon at the United Nations Climate Change Conference (COP28) in Dubai last December, which called for accelerating its deployment alongside other low-carbon energy sources.

In this context, leaders see nuclear energy as a reliable solution and a strong backbone for clean energy systems to maintain their flexibility and sustainability, praising the recognition at the 28th United Nations Climate Change Conference of nuclear energy as an essential element in the comprehensive transition to clean energy sufficient to reduce greenhouse gases.

In addition, summit participants welcomed the inclusion of nuclear energy in the results of the first global assessment, under the Paris Agreement, and in the Trilateral Nuclear Energy Declaration by 2050.

The primary goal of the summit is to enhance efforts to facilitate the mobilization of public and private investments towards additional nuclear energy projects (Al Jazeera)

European goal

European Council President Charles Michel said: “We must build a real energy union, and nuclear energy can play this role,” thanks to the technological innovation represented by small modular reactors that could change the rules of the game in the future, as he put it.

In a related context, French President Emmanuel Macron, speaking to reporters, expressed his support for small modular reactors, describing them as a “promising technology.”

For her part, European Commission President Ursula von der Leyen pointed out that “innovation in nuclear technologies is a dynamic field that we now need to master and introduce to European markets,” and in light of the current climate crisis, she added that “expanding the scope of the safe operation of the nuclear fleet is considered one of the cheapest ways.” To secure clean energy, therefore, consideration should be given to extending the life of existing nuclear power plants, provided they are operated safely.”

Despite the growing global interest in nuclear energy, Germany closed its remaining reactors last year, and Spain decided to gradually close its reactors by 2035. While Poland sided with the pro-nuclear energy camp, Slovakia built its first nuclear reactor, and Italy is considering doing the same.

Portugal, Denmark and Austria are among the European voices strongly opposed to the development of nuclear energy, as these countries filed a legal challenge against the European Union in 2022 stating that classifying nuclear energy as a “green investment” is nothing but “green money laundering.”

Source: Al Jazeera