Why is it in the news?
- The world’s first Nuclear Energy Summit was held in Brussels, jointly organized by the International Atomic Energy Agency (IAEA) and Belgium, aiming to promote nuclear energy.
More about the news
- The summit was convened following the historic inclusion of nuclear energy in the Global Stocktake agreed at the UN Climate Change Conference (COP28), 2023, calling for accelerated deployment of nuclear energy to combat climate change.
- Nuclear energy currently accounts for approximately 25% of global low carbon electricity production, highlighting its significant role in mitigating carbon emissions.
- More than 30 nations, including India, and the European Union participated in the summit, emphasizing its global significance and widespread support.
| About Global Stocktake
· The Global Stocktake (GST) is a periodic review mechanism established under the Paris Agreement in 2015. · It occurs every five years, with the first-ever stocktake scheduled to conclude at the UN Climate Change Conference (COP28) by the end of 2023. · The primary objectives of the stocktake are to assess individual countries’ efforts in reducing Greenhouse Gas (GHG) emissions and transitioning to renewable energy sources. · It is designed to keep countries accountable and encourage them to increase their climate ambitions over time. · In the Paris Agreement, countries committed to keeping global temperatures from rising beyond 2 degrees Celsius by the end of the century, with efforts to limit it “as far as possible” below 1.5 degrees Celsius. The stocktake serves as a means to periodically review these efforts. · While countries have submitted their Nationally Determined Contributions (NDCs) outlining their climate targets, they are not obliged to increase their ambitions. However, the stocktake aims to push countries to set higher targets every five years. · The latest NDCs were submitted in 2020, and the stocktake process aims to encourage countries to enhance their climate commitments before the next round of NDC submissions in 2025.
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| About IAEA
· The IAEA, established in 1957 as an autonomous international organization within the United Nations system, works to promote safe, secure, and peaceful nuclear technologies worldwide. · The IAEA’s safeguard mechanism, established through the global Nuclear Non-Proliferation Treaty (NPT) and other treaties, entrusts the agency with the responsibility of nuclear inspection to prevent the spread of nuclear weapons. India is a part of this protocol. · The IAEA has also developed the Additional Protocol mechanism, enabling it to verify the peaceful use of all nuclear material in states, enhancing transparency and trust in nuclear energy programs. · With 178 member states, including India, headquartered in Vienna, Austria, the IAEA operates initiatives like Atoms4NetZero, to advance the use of nuclear energy for climate mitigation. About Nuclear energy · Nuclear energy offers a clean source of electricity with minimal carbon footprint and holds potential for further advancements, such as Small Modular Reactors (SMRs), which offer increased feasibility and flexibility with power capacities of up to 300 MW(e) per unit. · Despite its benefits, nuclear energy faces challenges such as safety concerns post-Fukushima disaster, vulnerability to cyber-attacks, high upfront costs of plant construction, and long delays in project implementation, which require careful consideration and mitigation strategies.
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