NRI Annual Review 2024 - Flipbook - Page 27
A. BM
As the 昀椀rs Paris country to join
the CSC, the UK sends a strong
signal to other Paris countries
about the consistency and
complementary nature of the CSC
and the Paris Convention. At 昀椀rst
glance, the process of integrating
the CSC, the Paris Convention
and the Brussels Convention
can appear daunting. But in
revising its national law, the UK
has done an outstanding job of
integrating the three conventions.
It has shown it can be done
successfully and that there are
no overwhelming or intractable
issues.
I’m optimistic other Paris
countries will follow suit. I’m
hopeful they’ll see the very real
advantages of CSC membership
in terms of their national
interest. As the UK has observed,
CSC membership signi昀椀cantly
increases the con昀椀dence of
suppliers, investors and lenders
to participate in nuclear projects
in a country. I believe the UK’s
accession will provide the
momentum to tip the scales
towards a truly global regime,
which both makes good business
sense and enhances protection for
potential victims.
Q. What does the CSC mean
for energy security and the
net-zero transition?
A. BA
The UK Government has been
very strong in its commitment
to reaching net zero by 2050,
and recognises that nuclear is
going to be key to achieving
that goal. Accession to the CSC
is all about creating the best
possible conditions for achieving
our nuclear ambitions. It’s about
creating the con昀椀dence and
clarity that will enable new
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nuclear to thrive and contribute
to our net-zero targets.
A. BM
Nuclear energy must play a major
role in addressing climate change,
energy security and economic
development. There is a need for
new nuclear in the UK, the US
and around the world. No nuclear
project goes forward, however,
unless the operator, suppliers,
investors, lenders, insurers and
the public are satis昀椀ed that their
concerns over nuclear damage
and legal liability have been
adequately addressed. A global
nuclear liability regime based on
the CSC is by far the best way
to address those issues and take
nuclear liability concerns off the
board as an impediment to new
nuclear.
Liability is almost
an emotional
issue with some of
these transactions,
and unless people
are confident that
it’s dealt with, it
can kill a project.
