Sapporo 5 Investments for Nuclear Fuel Security

Recognizing the critical need for nuclear energy to achieve global net-zero greenhouse gas emissions;

Acknowledging that 25 countries, including all Sapporo 5 members, have endorsed the Declaration to Triple Nuclear Energy, which recognizes the key role of nuclear energy in keeping a 1.5°C limit on temperature rise within reach and achieving Sustainable Development Goal 7;

Recognizing that recent commitments made to triple global nuclear energy capacity by 2050 cannot be achieved without a secure and reliable nuclear fuel supply chain; and

Realizing that the Sapporo 5 members announced at COP28 that they would pursue at least $4.2 billion USD in government-led and private investment in their collective enrichment and conversion capacity over the next three years, and that they have successfully met and exceeded this target, with $5.6 billion USD mobilized to date.

We, the Sapporo 5:

Resolve to build upon our collective efforts to date in order to realize a nuclear fuel supply free from Russian influence and potential political leverage by other countries and to expand our existing fuel cycle capabilities further to ensure a resilient and interconnected fuel supply-chain of benefit to all;

Underscore that our collective investments are intended to establish a global commercial nuclear fuel supply chain that may be drawn on by countries as an alternative to Russian-supplied fuel;

Encourage industry to draw on this supply chain to support their own programmes and milestones consistent with the G7’s commitment to reduce reliance on civil nuclear related goods and services from Russia; and

Welcome and encourage nuclear utilities, industrial end-users, and financial institutions to join this effort to mobilize the necessary private capital to efficiently and effectively ensure diversification and security of supply;

We, the Sapporo 5:

Call on like-minded nations to support this effort to secure a reliable and transparent nuclear fuel supply chain for the benefit of each nation committed to equitable access to clean energy and a net-zero emission future; and

Welcome like-minded nations to commit to the objectives of our group and seek a nuclear fuel supply free from Russian influence.