COP28 is the backdrop for new fuel commitments from the U.S. and allies
Leaders of five nations that collectively represent 50 percent of the world’s uranium conversion and enrichment capacity—the United States, Canada, Japan, France, and the United Kingdom—are making a habit of meeting on the sidelines of global climate talks to pledge their commitment to securing the nuclear fuel supply chain. On December 7 at the Net Zero Nuclear Summit—an event held in Dubai, United Arab Emirates, during the UN Climate Change Conference, or COP28—representatives of those nations announced plans to “mobilize at least $4.2 billion” in government and private investment in enrichment and conversion capacity. The commitment expands on an initial civil nuclear fuel security agreement that the so-called Sapporo 5 reached in April 2023, when they met (as now, on the sidelines) during a G7 Ministers’ Meeting on Climate, Energy, and Environment in Sapporo, Japan.
