NRI Annual Review 2025 - Flipbook - Page 37
By Chris Lambert,
Westminster Energy Forum
and NRI Consultant
Key Highlights from the
Webinar Series
The NRI Frontiers webinar series,
now in its fifth year, continues to
be a pivotal platform for exploring
the future of global issues in
nuclear safety, risk, regulation,
and insurance. Supported by
international nuclear agencies such
as the OECD and IAEA, the series
attracts participants from over
twenty countries and two hundred
organisations, facilitating the
sharing of corporate intelligence
across the international nuclear risk
value chain. This article synthesises
key insights from recent webinars,
focusing on the evolving landscape
of nuclear energy and its role in the
global energy transition.
Nuclear energy in
Southeast Asia
Helen Cook from GNE Advisory
highlighted the diverse engagement
levels with nuclear energy across
Southeast Asia. Countries like Vietnam
and Malaysia have historical ties to
nuclear programs but have paused
their development. However, they
remain well-positioned to resume
quickly if desired. Indonesia and
the Philippines are notable for their
potential, with the latter exploring
modern small modular reactor (SMR)
technologies. The region’s approach to
nuclear liability is complex, with only
a few countries ratifying international
conventions. Establishing robust
liability frameworks is crucial for
advancing nuclear programs and
attracting investment.
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Insurance and risk management
Patrick Davison of Lloyd’s discussed
how the insurance market is adapting
to new and old risks, particularly in
the context of the energy transition.
Lloyd’s has a long history of providing
insurance for the nuclear sector,
contributing significantly to the UK
economy. The market is focused on
developing risk transfer solutions that
support sustainable energy sources like
nuclear power. Innovations in insurance
products are encouraged, with a focus
on facilitating the transition to lowcarbon energy.
Climate change and
nuclear energy
Erin Sikorsky from the Centre for
Climate and Security emphasised
the dual role of nuclear energy in
addressing climate change. While
nuclear power is essential for achieving
net zero carbon emissions, it faces
challenges from climate impacts
such as water scarcity and extreme
weather events. These risks threaten
both existing infrastructure and new
projects, highlighting the need for
climate-resilient planning. Indirect
risks, such as geopolitical instability
and climate-driven conflicts, further
complicate nuclear energy deployment.
Advancements in small
modular reactors
Andy Champ of GE Vernova focused
on the development of advanced SMR
technology, specifically the BWRX-300.
This design simplifies construction
and enhances safety, making it more
efficient and quicker to deploy. SMRs
are seen as transformative for the
