Global coalition launches petition against World Bank and ADB nuclear financing

A coalition of 64 organisations from 26 countries and regions has launched an international online petition demanding that the World Bank and the Asian Development Bank (ADB) uphold their long-standing policies of not financing nuclear power. Japanese NGOs are among the main signatories, including groups such as Friends of the Earth Japan, Peace Boat, Kiko Network, and ISEP.

The campaign follows a recent decision by the World Bank to lift its ban and a similar proposal under consideration by the ADB. The World Bank and the ADB are international financial institutions, funded by member governments, that support economic development and infrastructure projects. Japan is the second-largest contributor to the World Bank and the largest contributor to the ADB, alongside the United States.

Historically, both institutions have refrained from financing nuclear power projects. This policy was based on four key concerns: the risk of nuclear proliferation, safety issues, the unresolved problem of radioactive waste, and high costs. However, on 10 June, the World Bank’s board of directors decided to lift its ban on nuclear financing. The ADB is also considering including support for nuclear power as part of its ongoing energy policy review.

The petition asserts that the original reasons for this caution remain unresolved. It also points to new security threats, highlighted by Russia’s invasion of Ukraine, where nuclear power plants became potential military targets.

The coalition argues that nuclear power generation releases radioactive materials into the environment at every stage of its life cycle, from uranium mining and fuel processing to operation, decommissioning and waste disposal. The campaign also notes that uranium mining has historically infringed upon the rights of Indigenous peoples, damaging their health, land and environment.

Furthermore, the petition highlights the economic case against nuclear energy. It states that construction costs have soared, with a single reactor costing several trillion yen. As private investment increasingly flows towards renewable energy, the nuclear industry relies on public financing from institutions like the World Bank and ADB for new projects.

The coalition warns that supporting nuclear construction in developing nations would impose severe long-term dangers and huge economic burdens on current and future generations. The campaign seeks to prevent these institutions from using public funds to support an industry it views as a significant financial and environmental liability.