The race to net zero is typically framed as a shift away from fossil fuels such as coal and natural gas, towards renewables such as wind and solar. The role of nuclear power in the clean energy transition is often overlooked, despite it being the second-largest source of low-carbon electricity in the world behind hydropower.
Nuclear power is undoubtedly a divisive topic, not least because of its association with disasters such as Chernobyl and Fukushima. Sasja Beslik, head of sustainable finance development at J. Safra Sarasin, likens the atomic energy source to a Rorschach test. “You see what you want to see – a rosy nuclear future or an old-world dinosaur in a slow-death spiral,” he says.