United States, United Kingdom, Canada, Japan, And France Commit To Nuclear Energy At COP28

At the UN Climate Change Conference (COP28) in Dubai, the United States announced key measures to increase the access to a safe and secure nuclear energy supply. In response to the significant global interest in deploying US small modular reactor (SMR) nuclear energy systems to support critical climate and energy security goals, the Export-Import Bank of the United States (EXIM) and US Department of State announced a suite of EXIM financial tools to support SMR deployments and help US exporters compete in this global market. On November 30, 2023, the EXIM Board of Directors approved a Resolution in Support of SMR export financings that provides a strong, competitive set of export finance tools that, for qualifying transactions, can support the export of secure and safe US SMR designs and help potential clients secure large-scale, flexible financing to turn projects into reality.

In a second announcement, the United States alongside Canada, Japan, France, and the United Kingdom, known as the “Sapporo 5,” announced their collective intent to support increased deployment of zero-carbon, peaceful nuclear energy by expanding nuclear fuel production capacity across trusted, high-quality suppliers free from manipulation and influence. The Sapporo 5 will work to mobilize at least US$4.2 billion in government-led and private investment in the five nations’ collective enrichment and conversion capacity over the next three years, with a view to further additional private sector finance, and invite all like-minded nations to join in securing the global uranium supply chain.

The United States is committed to supporting the use of all clean energy technologies, including nuclear, to power global decarbonization efforts and provide energy security and independence to partners around the world.