President and Chief Executive Officer Danny Roderick stated, “The road from Paris to a low-carbon, climate-friendly future is long. The clock is ticking. We need to start work now to implement the global climate deal. Everyone has finally recognized that all low-carbon technologies are needed. Governments must continue the momentum and create stable and supportive national and regional regulatory systems for them. We need to get this right with clear, consistent and workable rules.”
Westinghouse, the global nuclear technology leader, has been at the forefront of the nuclear industry’s drive to raise awareness about the contribution of low-carbon nuclear energy to the health of our planet. The Paris agreement signals a broader understanding of the fact that a combination of wind, solar, hydro and nuclear is needed.
This change in approach will be helpful in creating a better environment for investment, according to Roderick, “The message from COP21 is clear: it’s time to redirect investment and financing from carbon-intensive fossil fuels to building a new generation of nuclear power plants for security of future energy supply.”
“We cannot risk creating a situation in which we want clean, reliable and affordable electricity, but are not able to provide it because we failed to plan, invest and build when we could. New energy infrastructure that will last for 50 years or more cannot be built overnight. We need careful, long-term planning of investments and construction,” he added.
Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.