On the sidelines of the 68th International Atomic Energy Agency General Conference in Vienna, leaders from the United States, Canada, France, Japan, and the United Kingdom — known as the Sapporo 5 — issued a joint statement on nuclear fuel security.
The group highlighted their progress on commitments made at COP28 to invest in nuclear fuel production capacity. They initially pledged $4.2 billion over three years but have already mobilized $5.6 billion, exceeding their target.
This investment aims to create a nuclear fuel supply chain independent of Russian influence. The Sapporo 5 stressed the importance of nuclear energy in achieving global net-zero emissions goals, referencing the Declaration to Triple Nuclear Energy endorsed by 25 countries.
The joint declaration outlines several key resolutions, including expanding existing fuel cycle capabilities to ensure a resilient and interconnected supply chain. The Sapporo 5 emphasize that their investments aim to establish a global commercial nuclear fuel supply chain as an alternative to Russian-supplied fuel. They encourage industry players to utilize this supply chain, aligning with the G7’s commitment to reduce reliance on Russian civil nuclear-related goods and services.
The group also calls on nuclear utilities, industrial end-users, and financial institutions to join the effort by mobilizing private capital to ensure diversification and security of supply.
The Sapporo 5 also extended an invitation to like-minded nations to support this initiative, promoting a reliable and transparent nuclear fuel supply chain that benefits countries committed to clean energy and a net-zero emission future.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
