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Sunny and Dazza;This is old news by now, but some comments from...

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    Sunny and Dazza;
    This is old news by now, but some comments from Zero Hedge on the big bank pivot to nuclear;

    The revival of nuclear power generation could get an enormous boost as more than a dozen of the world's largest banks and financial institutions are pledging support to new projects aimed at tripling global nuclear energy capacity by mid-century.
    Financial Times reports that White House climate policy adviser John Podesta and fourteen of the world's largest banks and financial institutions, including Bank of America, Barclays, BNP Paribas, Citi, Morgan Stanley, and Goldman Sachs, on Monday are expected to support a COP28 declaration outlined in late 2023 to triple nuclear energy capacity by 2050.
    The banks appear to be aligning with COP28's "Declaration to Triple Nuclear Energy," which specifies, "Recognizing the key role of nuclear energy in achieving global net-zero greenhouse gas emissions/carbon neutrality by or around mid-century and in keeping a 1.5°C limit on temperature rise within reach."
    No specifics will be mentioned today about how the banks plan to support nuclear power projects, but FT quoted energy experts who said this support has been long-awaited as atomic power will be crucial to power AI data centers, electric vehicles, and other quickly emerging electrification trends.
    "This event is going to be a game-changer," said George Borovas, head of the nuclear practice at law firm Hunton Andrews Kurth and a World Nuclear Association board member.
    He said that until now, banks have discovered that funding new nuclear projects is very tricky. Borovas said, "Banks at their senior management level would just say, we don't understand anything about nuclear. We just know it's very difficult, very controversial."
    He added that support from the banks would allow nuclear power to be "part of the solution for climate change" rather than "a necessary evil."

 
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