Summit was jointly organized by the International Atomic Energy Agency (IAEA) and Belgium to promote nuclear energy. Summit was attended by more than 30 nations (including India) and European Union.
- The historic inclusion of nuclear energy in the Global Stocktake at the UN Climate Change Conference (COP28) in 2023 led to the organization of an event.
- Inclusion in the Global Stocktake emphasized the need for rapid deployment of nuclear energy.
- Currently, nuclear energy is responsible for around 25 % of global low carbon electricity production.
About:
- IAEA Genesis: Established in 1957 as an autonomous international organization within the United Nations system.
- Objective: Works with its Member States and multiple partners worldwide to promote safe, secure and peaceful nuclear technologies.
- Safeguard Mechanism: The global Nuclear Non-Proliferation Treaty (NPT) and other treaties against the spread of nuclear weapons entrust the IAEA as the nuclear inspectorate.
- The IAEA has also developed additional protocol mechanisms; This enables the IAEA to verify the peaceful use of all nuclear materials in States.
- India is part of this protocol.
- Members: 178 (Including India)
- Key Initiative: Atoms4NetZero
- HQ: Vienna, Austria
Relevance and Challenges of Nuclear Energy
- Clean source of electricity with a minimal carbon footprint is possible.
- Technological advancements such as Small Modular Reactors (SMRs) make it more feasible.
- SMRs are advanced nuclear reactors with a power capacity of up to 300 MW(e) per unit.
- Benefits of SMRs include:
- Perennial availability
- Challenges associated with SMRs include:
- Safety concerns due to the Fukushima nuclear disaster
- Vulnerability to cyber-attacks
- High upfront cost of building a nuclear power plant
- Long delays in construction
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