Five G7 countries form N-power alliance


Shapps asserts that cheaper and safer renewable energy sources will be a key part of ensuring Britain’s energy independence…reports Assian Lite News

Canada, France, Japan, the UK and the US have announced an alliance to develop shared supply chains for nuclear power.

According to the UK government, the new agreement seeks to “displace [Russian leader Vladimir] Putin from the international nuclear energy market”.

The alliance was formed on Sunday as part of the Nuclear Energy Forum, at G7 talks in Sapporo, Japan. The nations will use their civil nuclear power stations to undermine the influence that Russia has on nuclear supply chains.

According to a joint statement from the five countries, they have “identified potential areas of collaboration on nuclear fuels to support the stable supply of fuels for the operating reactor fleets of today, enable the development and deployment of fuels for the advanced reactors of tomorrow, and achieve reduced dependence on Russian supply chains”.

The UK’s energy security secretary Grant Shapps said that the alliance would help prevent Putin “or anyone like him ever holding the world to ransom over their energy again”. Shapps also claimed that the agreement will increase energy independence and security for the countries and reduce dependence on fossil fuels.

“This agreement will be used as the basis for pushing Putin out of the nuclear fuel market entirely and doing so as quickly as possible, to cut off another means for him to fund his barbaric attack on Ukraine and fundamentally leave Russia out in the cold,” the British government asserted in a statement.

The administration also stated that the agreement will also strengthen their respective nuclear energy sectors, which will ultimately boost the domestic sectors of the respective countries. The group came to the conclusion that this agreement will maintain a stable supply of fuel for today’s needs.

During the G7 meeting, the British Secretary of State for the Department for Energy Security and Net Zero Grant Shapps asserted that cheaper and safer renewable energy sources will be a key part of ensuring energy independence in the United Kingdom.

The news came the day before Germany closed its last remaining nuclear power stations, as debate continues amid EU nations as to whether nuclear should be pursued as a “clean” energy source. France has adopted a staunchly pro-nuclear position within the EU, which some have described as “aggressive”. Around 70% of France’s power comes from nuclear.

Last week, the UK and South Korea signed a statement of cooperation for the development of nuclear energy, promoting it as a “secure, clean and affordable” energy source.

Shapps said: “I want us to work ever-closer together with countries like the Republic of Korea and Japan as we invest more in nuclear technologies like [UK nuclear project] Sizewell and small modular reactors, opening up opportunities to invest in the UK and with it, the job opportunities in our local communities”.

The UK aims to generate 25% of its electricity supply from nuclear sources by 2050, which it has been promoting through its Great British Nuclear scheme. Currently, around 15% of the UK’s electricity supply comes from nuclear.

Japan currently meets around 20% of its electricity needs through nuclear power. Following the Fukushima Daiichi nuclear accident in 2011, nuclear power generation has remained a controversial topic for much of the population in Japan, including wide-spread protests.

According to the statement, the five nations believe that the agreement will enable them to make swift progress in their domestic sectors and will also ensure a secure supply of uranium fuel.

The country aims to secure uranium supply through the development of shared supply chains and by ensuring that Russia still remains isolated. In the meeting, Shapps asserted that the team of five should stop being reliant on “expensive fossil fuels.”

“We must stop being reliant on expensive and imported fossil fuels and focus on smarter energy solutions. The UK is already a world leader when it comes to renewables, a fact recognised by the investors I have met in the Republic of Korea and Japan this week,” he said.

Meanwhile, G7 members committed to the swift and effective implementation of the Global Biodiversity Framework (GBF) – which the UK played a key role in agreeing in Montreal last year – demonstrating their collective leadership in halting and reversing biodiversity loss by 2030. They also highlighted the need to mobilise funding from all sources to support developing countries to protect nature.

The Environment Secretary called on her fellow ministers to deliver on their existing commitments to increase finance for nature to close the nature finance gap and scrap or repurpose environmentally harmful subsidies.

G7 ministers committed to dedicate a significant amount of international climate finance to nature-based solutions, delivering benefits for climate, people and nature. Ministers called on Multilateral Development Banks (MBDs) and International Financial Institutions (IFIs) to do the same, and for businesses to progressively reduce negative, and increase positive, impacts on biodiversity.

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