14 Major Banks Managing $14 Trillion Pledge to Triple Global Nuclear Energy Capacity by 2050

Sep 23, 2024, 12:15 PM

Fourteen of the world's largest banks, including Citi, Morgan Stanley, Goldman Sachs, Brookfield, BNP Paribas, Barclays, and Guggenheim, have pledged to support the goal of tripling global nuclear energy capacity by 2050. The banks, which collectively manage $14 trillion in assets, made this announcement at an event in New York City at Rockefeller Center attended by Biden's climate czar and the prime minister of Slovenia. This initiative marks a significant shift as banks have traditionally avoided overt support for nuclear energy due to its controversial nature. The pledge is seen as a crucial step towards achieving net-zero emissions, with many new nuclear plants expected to be built in Asia and the Middle East, led by China.