Nuclear Energy for Net Zero: Accelerating Investment in Clean Energy Transitions

This outlook produced for the G20 under the Presidency of Brazil (2024) is written to inform the Energy Transitions Working Group (ETWG) within the G20 Sherpa Track as well as the wider international energy and climate change community. This publication provides an overview of the contribution of nuclear energy to global climate change mitigation pathways toward net zero, highlighting the investment requisites. Global mitigation scenario pathways disseminated by the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA) indicate significantly more nuclear electricity – a doubling or more by 2050 – as a key part of the solution to limit global warming to the 1.5 and 2 degree goals of the Paris Agreement. Nuclear heat and hydrogen can also play a role in decarbonizing hard-to-abate activities in heavy industry and transportation. Unlocking and accelerating investment would be necessary for the rapid deployment of nuclear energy, including in emerging markets and developing economies. This calls for consistent climate, energy and investment policy frameworks — embracing a wide array of financing approaches — in tandem with efficient markets, effective project risk management and multi-stakeholder cooperation to accelerate annual nuclear energy investment to reach net zero. This publication presents key information and data to support and advise decision makers.