The nuclear energy sector's remarkable turnaround didn't happen by accident. It stems from two landmark developments in late 2023 and 2024 that aligned global climate goals with practical energy needs. The COP28 declaration and the U.S. ADVANCE Act created the policy foundation for today's favorable operating environment. They shifted nuclear from a sidelined technology to a central pillar of energy security and decarbonization.
The enthusiasm for nuclear energy and the policy support to accelerate nuclear deployment is built on a foundation of climate goals and domestic energy security. While most of the headlines today point to nuclear being an AI-driven story, the foundation for nuclear's support was established years ago for different reasons.
The COP28 Declaration
In December 2023, at the United Nations Climate Change Conference (COP28) in Dubai, more than 20 countries launched the Declaration to Triple Nuclear Energy Capacity by 2050, including the U.S.. [1][2] This was the first time nuclear power received explicit, high-level endorsement at a COP meeting as essential for reaching net-zero emissions and keeping global warming to 1.5°C. [2]
The background was impactful with Russia's invasion of Ukraine in 2022 exposing the dangers of relying on imported fossil fuels. The war triggered energy price spikes and economic pain across Europe. Governments realized that intermittent renewables alone couldn't deliver the reliable, around-the-clock power modern economies demand. Nuclear offered the perfect complement of emission-free baseload electricity that could partner with solar and wind while supporting sectors like industry and data centers.
The pledge quickly gained traction. By COP29 in 2024, six more countries signed on. Additional endorsements followed at COP30 and the 2026 Nuclear Energy Summit in Paris. [6] Today, 38 nations, including recent entrants like Kenya and China, have committed to the goal. [1] The declaration also urged the World Bank and international financial institutions to include nuclear in their lending policies, unlocking new capital flows.
This global coordination sent a powerful signal to investors and industry: nuclear is no longer controversial, it’s necessary.
The ADVANCE Act
While the world was pledging ambition at COP28, the U.S. was tackling a domestic barrier that had stalled progress for decades.
In July 2024, President Biden signed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy (ADVANCE) Act into law with overwhelming bipartisan support (Senate passage was 88-2). [3][4] The legislation modernized the Nuclear Regulatory Commission's (NRC) approach without compromising safety standards. Key provisions included faster licensing timelines, reduced fees, support for workforce recruitment and retention, and incentives to preserve existing plants.
The Act's origins trace back to years of frustration. Post-1970s construction costs and regulatory delays had made new U.S. builds nearly impossible. Earlier laws like the 2019 Nuclear Energy Innovation and Modernization Act (NEIMA) laid groundwork, but the ADVANCE Act went further by explicitly directing the NRC to avoid "unnecessarily limiting" civilian nuclear deployment while maintaining its core safety mission. [4]
The result is a clearer runway for innovation. Tech giants began signing long-term power purchase agreements with utilities and developers accelerated plans for small modular reactors (SMRs) tailored to data centers and industrial sites.
Building on the Foundation in the U.S. and Beyond
These two milestones created fertile ground for ongoing policy momentum. In May 2025, President Trump signed four executive orders reinforcing the U.S. goal of growing nuclear capacity from roughly 100 GW today toward 400 GW by 2050. [5] These directives focused on:
- Streamlining reactor testing at Department of Energy labs
- Deploying advanced nuclear for national security and AI applications
- Revitalizing the domestic fuel supply chain
- Reforming NRC processes even further
Internationally, momentum continued:
- France committed to at least six new reactors (with options for eight more) [7]
- The United Kingdom set a 24 GW target by 2050 [8]
- China maintained its lead in new builds. [9]
An Opportunity Across the Entire Value Chain
The Range Nuclear Renaissance Index ETF (NUKZ) was built precisely for this moment. Unlike narrower approaches focused only on uranium mining, NUKZ seeks to capture the full demand-driven value chain: advanced reactors, utilities, construction & services, and nuclear fuel, through a diversified, rules-based index.
NUKZ holds multiple nuclear manufacturers and supply chain firms. Regardless of the reactor designers chosen by the various hyperscalers or government programs, the holdings of NUKZ may potentially benefit.
Sources:
[1] World Nuclear Association – Declaration to Triple Nuclear Energy by 2050 (updated endorsements through March 2026)
[2] U.S. Department of Energy – COP28 Declaration Announcement, December 2023
[3] Nuclear Regulatory Commission – About the ADVANCE Act of 2024
[4] U.S. Congress – ADVANCE Act legislative history and text (Public Law 118-67)
[5] White House – Executive Orders on Nuclear Energy, May 2025
[6] World Nuclear Association - Four more countries endorse global Declaration to Triple Nuclear Energy March 10, 2026
[7] World Nuclear News. Nuclear Central in France's Latest Energy Strategy. February 13, 2026.
[8] UK Government, Department for Energy Security and Net Zero. Civil Nuclear: Roadmap to 2050. January 2024
[9] World Nuclear Association. China (Mainland) World Nuclear Performance Report. Accessed April 5, 2026.
Disclosures:
Investing involves risk, including possible loss of principal. There is no guarantee the Funds will achieve their stated investment objectives. Carefully consider the investment objectives, risks, charges, and expenses. This and other important information can be found in the Funds' prospectuses, which should be read carefully before investing and can be obtained by visiting www.rangeetfs.com/investor-materials, or by calling 1-800-617-0004.
Investments in the energy industry are subject to significant volatility due to changes in commodity prices. Additional risks include changes in exchange rates, government regulation, world events, economic and political conditions in the countries where energy companies are located or do business, and risks for environmental damage claims.
The Fund is non-diversified. Its concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors.
Nuclear companies may be subject to substantial government regulation and contractual fixed pricing, which may increase the cost of doing business and limit the earnings of these companies. A significant portion of revenues of nuclear companies depends on a relatively small number of customers, including governmental entities and utilities. As a result, governmental budget constraints may have a material adverse effect on the stock prices of companies in this sub-industry.
International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Investments in smaller companies typically exhibit higher volatility.
The Fund may invest in securities denominated in foreign currencies. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.
Diversification may not protect against market risk.
Exchange Traded Concepts, LLC serves as the investment advisor of the funds. NUKZ and COAL ETFs are distributed by SEI Investments Distribution Co. (SIDCO, 1 Freedom Valley Drive, Oaks, PA 19456), which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.
