The Rockefeller Foundation and Temasek Trust has launched a new international coalition aimed at mobilizing philanthropic capital for nuclear energy, marking a notable shift in the global climate finance conversation as energy security concerns intensify and electricity demand accelerates worldwide.

The new Global Coalition for Nuclear Philanthropy ( GCNP ), announced at the Philanthropy Asia Summit during Ecosperity Week in Singapore, aims to coordinate funding and advocacy efforts around nuclear energy deployment, particularly in developing and emerging economies where energy demand is rising at pace.

The initiative reflects a growing view among some policymakers, investors and philanthropic organizations that nuclear power may need to play a larger role, alongside renewable energy, if countries are to meet net-zero targets while maintaining reliable electricity supplies.

The launch comes as the International Energy Agency forecasts strong growth in global electricity demand between 2024 and 2026.

The current surge in energy demand is being driven by several converging trends, including the rapid expansion of artificial intelligence and data centres, rising industrial activity across Asia, growing use of electric vehicles and air conditioning, and the broader electrification of economies as countries transition away from fossil fuels.

At the same time, emerging economies in Asia are consuming more electricity as incomes rise and urbanization accelerates, increasing pressure on governments to secure reliable, affordable and low-carbon power supplies.

Supporters of nuclear power argue that renewables alone may struggle to provide stable baseload electricity at the scale required for future economic growth.

“Universal energy abundance, the kind that powers industries, anchors economies and raises living standards for billions, requires firm, clean power alongside renewables,” says Ashvin Dayal, The Rockefeller Foundation’s senior vice-president for power, during the summit. “The next generation of nuclear technologies, including small modular reactors, is advancing fast and costs are coming down, opening a real prospect that many developing and emerging economies could add safe, abundant, clean baseload power to their energy mix.

“Getting there will take serious work on policy, regulation, finance and human capital. That is precisely why we are forming the GCNP now.”

Politically, socially sensitive

Despite renewed political and investor interest in nuclear energy, philanthropic funding into the sector remains extremely limited. Just 0.1% to 0.2% of climate philanthropy, according to analysis cited by the GCNP, currently supports nuclear energy projects or advocacy efforts.

The coalition says it intends to help close that gap by supporting work across four areas by building public understanding of nuclear energy, developing talent and institutional capacity, improving financing structures and strengthening governance and safety frameworks.

“Nuclear power is a vital clean energy source that can help address the climate crisis,” adds Desmond Kuek, Temasek Trust’s executive director and CEO. “Through the GCNP, we aim to convene like-minded partners to support informed dialogue and responsible approaches to nuclear energy in upholding the highest standards of safety, security and responsible waste management.”

The announcement also highlights how nuclear energy is increasingly being reframed not only as a climate solution, but as an economic development tool capable of supporting industrial growth, digital infrastructure and energy-intensive technologies, such as artificial intelligence.

Still, nuclear energy remains politically and socially sensitive in many parts of the world because of concerns over safety, radioactive waste and the potentially catastrophic consequences of accidents.

In Asia, the 2011 Fukushima Daiichi disaster in Japan remains one of the defining events shaping public perceptions of nuclear energy. Triggered by a massive earthquake and tsunami, the accident caused reactor meltdowns and long-term evacuations, while also exposing vulnerabilities in disaster preparedness and regulatory oversight.

Earlier disasters at Chernobyl in 1986 and Three Mile Island in 1979 similarly left deep public scars and continue to influence energy policy debates.

Supporters of nuclear expansion argue that modern reactor technologies, particularly small modular reactors and newer generation designs, are significantly safer than earlier systems, with stronger passive safety mechanisms and stricter international oversight.

However, critics maintain that waste disposal, high capital costs and geopolitical security risks remain unresolved challenges.

Safety, security and governance, the GCNP says, would form a central pillar of its work as it seeks to support “safe and credible integration” of nuclear energy into national energy systems over the next decade.