Nuclear at COP 21 - Part 2

One very exciting prospect for nuclear that has been introduced at COP 21 is the Breakthrough Energy Coalition, announced by Bill Gates. The main objective of this scheme is to use the economic capacity and power of the world’s billionaires (including Richard Branson and Mark Zuckerberg) (Milman 2015) to fast-track the globe to a clean-energy era (Casey2015). The coalition sees nuclear at the forefront of this clean energy push, which will likely conflict with many who do not view nuclear as a “clean” option!

Founders Richard Branson (left) and Mark Zuckerberg (right) and co-chair Bill Gates (centre) of the Breakthrough Energy Coalition (BEC 2015).

The need for this push is because current investment is not sufficient, with subsidies and governmental supports not in a position to stimulate mass private risks in regards to investing in nuclear, and other clean energy, technologies and research. Therefore the billionaires can overcome this initial risk and also stimulate the mobilization of further investment. Bill Gates views solar and wind energy as great options, yet agrees with the viewpoint I have reiterated multiple times – the magnitude of the climate issue means all pathways have to be explored – with new and innovative energy production schemes required to remove humanity from its continued fossil fuel dependency.

Profit remains the primary objective (Casey 2015), which leads me to question the extent in which they will go to in order to truly establish this era of clean energy. If a loss if required to combat climate change, would they have the drive to make such a move? (It is not like they are short of profit?!). The profit is hoped to be obtained directly from returns in investments as well as indirectly as their initial investment will enable the market they function within to enhance, creating more custom for their research and innovations.

Gunter (2015) argues that innovation is not needed; we have already made the break-through with wind, solar etc. Therefore the fund available could be put to use practically in expanding the innovations already made, rather than driving for new innovations. I feel this is a rather restricted-view, yes renewables need to be expanded – but surely attempting to innovate and create more effective clean energy sources, whether it be nuclear or not should not be opposed?!

Listen to Bill Gates explain the basic concept of the Breakthrough Energy Coalition below: