Big Tech firms sign pledge to triple global nuclear energy capacity by 2050

A group of Big Tech firms including Amazon, Google and Meta have joined banks, nuclear firms and 31 countries in a pledge to triple global nuclear energy capacity by 2050.

The pledge, signed today during S&P Global’s CERAWeek conference, represents the first time major businesses beyond the nuclear sector have publicly committed to backing the expansion of nuclear power. 

Founding signatories are Amazon, Google, Meta, Dow, Occidental, Allseas, OSGE, and IHI, but the World Nuclear Association, which facilitated the call, expects more businesses to join in the coming months – in fact, the pledge includes a commitment to call on other large energy users to join.

Nuclear energy is increasingly seen as a necessary to the energy transition, since it produces reliable, 24/7 electricity without emitting greenhouse gases. Increasing nuclear capacity is particularly relevant for the tech sector, with AI deployment leading to the massive expansion of power-hungry data centres – and a significant rise in emissions.

“Nuclear power will be pivotal in building a reliable, secure, and sustainable energy future. Google will continue to work alongside our partners to accelerate the commercialisation of advanced nuclear technologies that can provide the around-the-clock clean energy necessary to meet growing electricity demand around the world," said Lucia Tian, Head of Clean Energy and Decarbonisation Technologies at Google – whose emissions have increased by 48% over the past four years.

Nuclear pledge signatories

Last year, 14 financial institutions “expressed support” for the call to triple nuclear energy capacity, which was launched at COP28 and has since been signed by 31 countries.

Among the financial institutions supporting the pledge are Abu Dhabi Commercial Bank, Ares Management, Bank of America, Barclays, BNP Paribas, Brookfield, Citi, Credit Agricole CIB, Goldman Sachs, Guggenheim Securities LLC, Morgan Stanley, Rothschild & Co., Segra Capital Management, and Société Générale.

Sama Bilbao y Leon, Director General of the World Nuclear Association, commented: "The unprecedented support announced today by some of the world's most influential companies to at least triple global nuclear capacity by 2050 sends a clear signal to accelerate policy, finance and regulatory changes that enable the rapid expansion of nuclear power. The global shift towards more nuclear highlights this is the only way we'll deliver the abundant firm clean energy required to power growth and innovation in technology, a host of other industries and the entire economy."

Warnings against nuclear energy

Despite the growing enthusiasm for nuclear energy, environmental organisations warn that it is not a “magic bullet solution” for energy decarbonisation. Nuclear power plants are particularly vulnerable to attacks and natural disasters – which are set to increase in the coming years. 

As seen with the Chernobyl and Fukushima disasters, nuclear plant explosions have life-threatening consequences on humans and natural ecosystems. But even when nothing goes wrong, nuclear power plants still create waste materials that remain toxic for hundreds or thousands of years.

Experts are also increasingly warning about the water impact of nuclear energy, which requires large amounts of water to cool equipment during the nuclear fission reaction. And like other ‘clean’ energy technologies, the materials used to build and fuel these plants comes with embedded emissions – estimated to be far higher than for other renewables.

Read our analysis: Is nuclear power sustainable?