The Singapore International Energy Week (SIEW) kicks off today. Attendees include top officials, policymakers, and experts across the energy sector. The aim of SIEW is to promote reliable and sustainable energy production while promoting competition in markets.
Bloomberg reporter Stephen Stapczynski is at SIEW in Singapore. He posted a video on X of Mikhail Chudakov, deputy director general at the International Atomic Energy Agency, addressing an audience about the desperate need for more nuclear power reactors worldwide or the risk of not achieving net-zero emissions by 2050.
Chudakov said the world needs to build reactors at a rate of 20 or more per year instead of the current rate of 3 to 4. His message was clear: The world must accelerate nuclear energy to reach green goals.
The world must accelerate construction of new nuclear power plants in order to hit global green goals, says atomic watchdog ☢️
— Stephen Stapczynski (@SStapczynski) October 23, 2023
🏗️ 20 reactors need to be built a year to reach net-zero by 2050, compared to about 3-4 reactors a year currently, said Mikhail Chudakov at IAEA pic.twitter.com/vZ1BPaq9r0
Chudakov's message about nuclear energy supporting the clean energy transition is one that we pitched to readers nearly three years ago, as highlighted in our article "Is This The Beginning Of The Next ESG Craze," which is proving to be accurate.
At the time of our initial recommendation, most uranium stocks were trading at a fraction of their price now.
Nuclear energy is the only 'green' on-demand power generation source that can support the global power grid in decarbonization efforts while governments accelerate the 'electrification' of everything.
