The International Atomic Energy Agency (IAEA) and the European Bank for Reconstruction and Development (EBRD) are broadening their collaboration in the nuclear energy sector to help countries achieve net zero. This partnership represents a significant step, as it extends their cooperation beyond nuclear and radiation safety concerns.

On the margins of the United Nations Climate Change Conference (COP29) today, IAEA Director General Rafael Mariano Grossi and EBRD President Odile Renaud-Basso signed a Memorandum of Understanding (MoU).

“Together we are not only building on years of successful cooperation in nuclear safety, but we are opening new doors for capacity building, clean energy and economic resilience. Partnering with financial institutions, like the EBRD, is essential to unlocking the investments needed for a low carbon future, ensuring nuclear energy’s unique benefits are accessible, safe and sustainable for all,” Director General Grossi said.

He highlighted the importance of partnerships with financial institutions and the private sector to scale up nuclear energy. The IAEA invites government, industry, banks and other stakeholders to partner with the Agency and to contribute their financial resources, expertise, industrial knowledge and advocacy.