Canada Adds Nuclear Energy to Green Bond Framework

In its 2023 Fall Economic Statement, the government of Canada announced an updated green bond framework that now includes expenditures for nuclear energy.

“To align Canada’s Green Bond Framework with Canada’s 2030 Emissions Reduction Plan, updated taxonomies, international best practices and evolving investor preferences, the Government of Canada is releasing an updated Framework that includes certain nuclear energy expenditures,” they wrote.

This will include investments in new reactors, refurbishment of existing facilities, research and development, and investment in Canada’s nuclear supply chain. 

This move, which further bolsters the change in perception toward nuclear around the world, reinforces Canada’s commitment to nuclear. Supporters say it’s about time — nuclear power makes up 15% of the country’s energy mix, coming from a total of 19 reactors with a capacity to generate about 13.6 gigawatts of power across the country. 

And as Radiant Energy’s Mark Nelson points out, Canada is one of the world’s biggest suppliers — the second-largest, to be specific — of uranium, the most widely used fuel for nuclear power.

The government also noted that no proceeds from the first green bond issued in March 2022 will be allocated to nuclear-related expenditures, it intends to issue another green bond under the updated framework before the end of the fiscal year.

Also read: US Supports Nuclear Power Expansion in Europe, Launches NEXT Program

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