Bill Gates tells NEF that nuclear has a place in climate campaign

A man wades through a flooded street near the Rialto bridge in Venice. Environmentalists have blamed dramatic flooding in the city on climate change. (AFP)
Updated 22 November 2019

Bill Gates tells NEF that nuclear has a place in climate campaign

  • About 14 percent of China’s energy needs come from renewable sources

BEIJING: Climate change experts and business leaders warned that there was virtually no chance of meeting the target of zero carbon emissions by 2050, as environmentalists have demanded in the growing global campaign against fossil fuels.

Bill Gates, the billionaire philanthropist turned environmental advocate, told the Bloomberg New Economy Forum in Beijing that there would have to be a radical rethink of economic and energy practices to meet that target.

“How do you get there? What is the world’s source of energy if not fossil fuels? It probably involves a lot more renewables, a storage miracle, and maybe more nuclear,” Gates said. He recently admitted to technology issues at his TerraPower nuclear technology firm.

“I put my hundreds of millions into it but it is not a profit-seeking activity. Nuclear will only survive if a new generation with better economic and safety standards is out there. It’s very advantaged if you get the designs right. None of the paths to climate safety are risk free,” Gates said.

“Today’s reactors are not economic. Today’s nuclear industry will disappear if there isn’t a new design,” he added.

Asked about the attraction of nuclear power for general consumers, he responded: “Well, they like cheap and reliable electricity, and nuclear provided that.”

 

 


Abu Dhabi fund suspends debt service repayments for countries, companies

Updated 12 July 2020

Abu Dhabi fund suspends debt service repayments for countries, companies

  • Debt service repayments would be suspended for eligible countries and individual companies from Jan. 1 until Dec. 31

DUBAI: Abu Dhabi Fund for Development has suspended debt service repayments for some countries and companies for the year, the state-financed fund said on Sunday.
The fund provides financial assistance to companies in the United Arab Emirates and to developing countries, which has included Pakistan, Egypt, Sudan and Ethiopia.
Debt service repayments would be suspended for eligible countries and individual companies from Jan. 1 until Dec. 31, the fund said in a statement.
It did not say which countries or companies would benefit or what the criteria would need to be met to be eligible.
“At a time when the world is reeling under the effect of the pandemic ... it is imperative for us to support particularly those that need it most, especially the low-income countries,” the fund’s director general Mohammed Saif Al-Suwaidi said.