Countries Pledge to Triple Nuclear Energy by 2050

The demand for nuclear energy is continuing at a rapid pace, and more countries are becoming receptive to its use. This is evident in a declaration to triple nuclear energy by the year 2050.

This goal was made formal during the World Climate Action Summit of the 28th Conference of the Parties to the U.N. Framework Convention on Climate Change, or COP28 for short. COP 28’s push to reduce or eventually eliminate the use of fossil fuels includes the use of alternative energy sources like nuclear power.

“The Declaration recognizes the key role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050 and keeping the 1.5-degree goal within reach,” an announcement said. “Core elements of the declaration include working together to advance a goal of tripling nuclear energy capacity globally by 2050 and inviting shareholders of international financial institutions to encourage the inclusion of nuclear energy in energy lending policies.”

Of course, given nuclear power’s past, getting more countries to accept it as a viable energy source will prove challenging. Nonetheless, more countries are open to using nuclear power to realize the common goal of reducing the world’s carbon emissions.

“Endorsing countries include the United States, Armenia, Bulgaria, Canada, Croatia, Czech Republic, Finland, France, Ghana, Hungary, Jamaica, Japan, Republic of Korea, Moldova, Mongolia, Morocco, Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine, United Arab Emirates, and United Kingdom,” the announcement said further.

2 ETF Opportunities in Uranium Miners

Given the strong growth trajectory of nuclear power, the demand for uranium should also benefit mining. That said, ETF investors looking to add growth into their portfolios, but don’t want direct exposure to uranium futures, can look at uranium miners for opportunities.

For a large-cap focus with exposure to the biggest players in the metal’s mining space, consider the Sprott Uranium Miners ETF (URNM). The fund tracks the North Shore Global Uranium Mining Index. It invests in global firms that mine, develop, and produce the metal. It also invests in those that hold the physical metal or royalties from it.

For even higher growth potential, investors can tap into small-cap opportunities via the Sprott Junior Uranium Miners ETF (URNJ). The ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Nasdaq Sprott Junior Uranium Miners Index. That index tracks mid-, small- and micro-cap companies in the metal’s mining business.

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