14 largest banks promise to significantly increase financing for nuclear power - Financial Times.

The world's largest banks - Bank of America, Morgan Stanley and Goldman Sachs - have declared their support for nuclear power. This is in order to achieve the goal of COP28, which involves tripling nuclear power capacity by 2050.

14 of the world's largest banks and financial institutions have committed to increasing their support for nuclear energy. An official statement will be made at an event in New York featuring White House climate policy advisor John Podesta.

Participants in the initiative include Bank of America, Barclays, BNP Paribas, Citi, Morgan Stanley and Goldman Sachs. Although specific steps have not been announced yet, experts in the nuclear energy sector consider this a recognition of the important role of the sector in transitioning to low-carbon energy.

George Borovas, head of a law firm and member of the World Nuclear Association, called it a "breakthrough moment." He noted that previously banks found it difficult to support new nuclear projects due to their complexity and controversy.

Banks' support may include increased lending and financing for nuclear companies, organizing bond issuances, and introducing companies to direct investment funds and credit funds.

Technology giants also support nuclear energy for the development of SMR projects. Recently, Microsoft entered into an agreement with Constellation Energy to restart the nuclear reactor at Three Mile Island in Pennsylvania. Oracle co-founder Larry Ellison announced the company's plans to design a data processing center with modular nuclear reactors.

James Sheffer, an investment banker at Guggenheim Securities, called this a "dawn" moment for financing new nuclear power plants.

Other financial institutions that have supported nuclear energy include Abu Dhabi Commercial Bank, Ares Management, Brookfield, Crédit Agricole CIB, Rothschild & Co., Segra Capital Management and Société Générale.