Collaboration, standardization, and sustainable finance take the spotlight at IAEA’s 69th General Conference

At the 69th General Congress of the International Atomic Energy Agency (IAEA) in Vienna, delegates emphasized that while nuclear power is providing more  clean, 24/7 baseload energy than ever before, the growing demand for gigawatts of new capacity will require  a clear, transparent, and standardised nuclear energyecosystem.  

Today’s global nuclear energy capacity sits at 377 GW, with 417 commercial nuclear power reactors operating worldwide. Depending on the pace of deployment, IAEA projects that capacity could increase to 992 GW by 2050 in a high-case scenario or to 561 GW in a low-case scenario. Small modular reactors (SMRs) are expected to play an increasingly important role, accounting for between 5-24% of this new capacity. CATF staff attended the conference to engage with policymakers, industry leaders, and regulators, shaping the future of global nuclear energy deployment. The discussions underscored several key themes that align closely with CATF’s priorities for advancing nuclear energy worldwide: 

Nuclear energy is crucial for industrial decarbonization 

Policymakers and industry leaders clearly signaled to the General Congress that nuclear energy is indispensable for meeting growing demand for clean, reliable heat and power. CATF’s work reinforces this view, demonstrating how nuclear energy can provide the firm, zero-carbon power and high-temperature heat needed to decarbonize heavy industry, enable co-generation and desalination, and support the production of low-carbon fuels and materials. 

Sustainable financing for nuclear projects is needed. 

 The conference also highlighted the importance of sustainable finance in advancing nuclear energy deployment. Global issuance of green bonds reached $575 billion in 2023, more than double the five years earlier. Most green loans and green bonds for nuclear energy projects have been used for long-term operations refinancing nuclear power plant construction.  

Participants noted that including nuclear power in sustainable investment taxonomies and the policies of the Multilateral Development Banks, like the World Bank, boosts public acceptance and broadens access to critical financial capital needed to get new nuclear on the grid. 

Standardization and collaboration are key to scaling 

Another key topic among conference participants was the need for streamlined licensing, standardized technology, and cross-border collaboration. Technology proliferation, or the presence of too many reactor types on the market, risks spreading scarce development funds too thinly and complicates regulatory approval. To address this issue, speakers called for harmonized frameworks that enable replication and reduce project risk.   

Examples showcased at the conference included: 

• The EAGLES 300 SMR project: A multi-country SMR project between Belgium, Italy, and Romania that will allow regulators from all three countries to align their regulatory approaches, with the aim of reducing licensing-related delays as projects phases progress. 

• IAEA African Regional Cooperative Agreement (AFRA): This IAEA initiative focuses on developing nuclear power programs across African countries, with the goal of establishing the necessary infrastructure for safe and secure nuclear energy, with an expressed interest in SMR technologies (e.g., Ghana, Guinea, Kenya and Senegal). 

• HARMONISE project: Lithuania, with funding from the European Commission, has been leading on a nuclear licensing evaluation project to study activities around standardization and safety regulations across the EU. 

Several side sessions also reinforced these themes. EDF convened a discussion on supply chain standardization, emphasizing lessons from the automotive and aviation industries that could help streamline manufacturing and enable a fleet-based approach to nuclear deployment. The UK Office for Nuclear Regulation (ONR) also hosted a session on international collaboration for SMRs, outlining its initiative to align regulatory approaches across countries. With more than 20 memoranda of understanding already signed, the effort is helping build transparency, consistency, and confidence in the success of new reactor projects. 

A coordinated path forward 

The 69th IAEA General Conference took place at a time when the world’s need for reliable clean firm energy has never been greater. In Vienna, CATF was encouraged to see growing momentum behind the very principles we advocate for: coordinated and standardized nuclear technology deployment, aligned licensing programs, shared expertise across borders, and sustainable financing frameworks that can scale nuclear energy to meet global climate and development goals.