Third Way and the Energy for Growth Hub welcome DFC Policy Change on Nuclear Power; Announce Partnership

Third Way and the Energy for Growth Hub welcome the news that the US International Development Finance Corporation (DFC) is planning to remove a prohibition on projects with nuclear technology. This is a positive change for US development goals, supportive of an aggressive technology-inclusive climate policy, and will help US technology respond to future energy needs in a wide array of emerging and frontier markets.

The International Energy Agency argues that global nuclear capacity will need to double by 2050 to meet a 2-degree climate mitigation target, yet almost all of the growth in global energy demand will come from non-OECD countries. That’s why Third Way and the Energy for Growth Hub are partnering on a first of a kind analysis of global demand for advanced nuclear to be released later this year.

“As the world emerges from the present crisis and begins to shift from emergency relief to recovery efforts, reliable clean energy will be more important than ever before. The DFC can now play a critical role supporting U.S leadership in a growing global advanced nuclear market that will create good jobs and massive economic opportunity and set us on a global path to zero emissions,” says Josh Freed, Senior Vice President for the Climate and Energy Program at Third Way.

“The Atoms for Peace program in the 1950s helped the US share emerging nuclear science and technology to spur human development in countries around the world. The DFC gives the US a unique opportunity to invest in the next generation of nuclear newcomer countries, creating partnerships that will last for decades,” says Jessica Lovering, a nuclear technology expert and Fellow at the Energy for Growth Hub.

“Utilities, manufacturers, and countries around the world are beginning to look for the zero-carbon assets they will deploy for the next 20 years and beyond. Advanced nuclear is one of the only technologies that can help developing countries meet the energy demand of a growing economy, and still remain committed to their climate goals. The DFC can have a giant impact on American leadership in this growing global market,” says Jackie Kempfer, a nuclear energy policy advisor at Third Way.

“The DFC was built to support US global development, national security, and commercial interests. Modernizing its policy toward nuclear technology is consistent with all three of DFC’s mandates and will help to meet the rapidly growing demand for clean energy in the places that need it the most,” says Todd Moss, Executive Director of the Energy for Growth Hub.

Third Way’s Climate and Energy Program designs and advocates for policies that will drive innovation and deployment of clean energy technologies and deliver the emissions cuts we need to win the fight against climate change. www.thirdway.org/issue/climate...

The Energy for Growth Hub is a nonprofit global network of scholars and advocates dedicated to using data and evidence to build a high-energy future for everyone. www.energyforgrowth.org

For more information contact: Jared DeWese, Senior Communications Advisor at [email protected]