G7 Nations To Emphasize The Importance Of Nuclear Power In Upcoming Announcement
The thesis we presented to readers in December 2020 recommended uranium stocks on the belief that nuclear energy would eventually be incorporated into the ESG (Environmental, Social, and Governance) framework, as highlighted in our article "Is This The Beginning Of The Next ESG Craze," is proving to be accurate.
As per a draft statement cited by The Japan Times, energy and environment ministers of G7 nations are preparing to announce the importance of nuclear power for energy security amidst the global push towards decarbonization.
The statement, seen Friday, is likely to note that G7 countries welcome Japan's plan to release treated water from the crippled Fukushima No. 1 nuclear power plant into the ocean in a transparent way and in close coordination with the International Atomic Energy Agency, according to the draft.
The announcement could come as soon as the G7 climate, energy, and environment ministers meet in Japan on April 15-16.
The Times said multiple G7 countries are accelerating their push towards extending the life of nuclear power plants and constructing new ones.
Parliament is currently deliberating legislation that would extend the life of nuclear plants beyond 60 years as the government aims to ensure stable electricity supply and promote decarbonization at the same time.
Britain and France are accelerating construction of new nuclear plants, while the development of a small modular reactor is underway in the United States.
Germany, which is expected to complete the shutdown of all nuclear plants in the country this month, opposes highlighting the importance of nuclear power.
The draft statement also laid out a plan for advanced economies to build small modular reactors and next-generation reactors.
At the time of our initial recommendation, the majority of uranium stocks were trading at a fraction of their price now.
The case for nuclear energy becomes even stronger as governments aim to decarbonize their economies within the next decade, as it is impossible to achieve this solely through solar and wind power.