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Capito, Colleagues Urge U.S. International Development Finance Corporation to Eliminate Prohibition on Supporting Civil Nuclear Energy Projects | U.S. Senator Shelley Moore Capito of West Virginia

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Capito, Colleagues Urge U.S. International Development Finance Corporation to Eliminate Prohibition on Supporting Civil Nuclear Energy Projects | U.S. Senator Shelley Moore Capito of West Virginia

WASHINGTON, D.C. – At present, U.S. Senator Shelley Moore Capito (R-W.Va.), joined Senators Joe Manchin (D-W.Va.), John Barrasso (R-Wyo.), Ben Cardin (D-Md.), Cory Booker (D-N.J.), Kevin Cramer (R-N.D.), Chris Coons (D-Del.), Jim Risch (R-Idaho) and Lisa Murkowski (R-Alaska) in sending a letter to Scott Nathan, Chief Government Officer of the U.S. Worldwide Improvement Finance Company (DFC), urging DFC to start financing nuclear vitality initiatives and help the continued improvement and deployment of superior nuclear know-how.

The Senators stated partly, “Bipartisan help for superior nuclear is predicated not solely on its promise to cut back emissions and potential to ship international clear vitality at scale to help financial improvement but in addition on the understanding that U.S. international management on this subject is important to our core nationwide safety pursuits. Worldwide demand for U.S. superior nuclear know-how has solely intensified within the wake of Russia’s invasion of Ukraine and Europe’s extreme vitality disaster. Quite a few nations, together with some with 123 Agreements for peaceable cooperation firmly in place, are involved in partnering with the U.S. on superior nuclear initiatives that might qualify for DFC help. Exporting new and superior nuclear applied sciences like small modular and micro-reactors would help our allies’ rising vitality safety wants and permit DFC to fulfill its mandate to facilitate development in lower-income nations. Additional, prioritizing and deploying U.S. nuclear applied sciences enhances our broader overseas coverage targets to counter Russian and Chinese language efforts to make use of civil nuclear exports for their very own political and financial ends.”

The total letter is obtainable under or right here.

Expensive Mr. Nathan:

In 2019, a bipartisan group of Senators urged the U.S. Worldwide Improvement Finance Company (DFC) to get rid of its “categorical prohibition” towards supporting civil nuclear vitality initiatives.

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We have been happy that in 2020, the DFC introduced the modernization of its nuclear vitality coverage. The announcement formally lifted the company’s prohibition on financing nuclear vitality initiatives, enabling it to help civil nuclear initiatives in response to the USA’ broader business, improvement, environmental, vitality, geopolitical, and nationwide safety pursuits. Given the present conflict between Russia and Ukraine, and the menace that battle poses to the worldwide nuclear gas provide, we urge the DFC to start financing nuclear vitality initiatives.

The DFC is able to enjoying a key function in supporting the continued improvement and future deployment of U.S. superior nuclear know-how overseas. Superior nuclear vitality applied sciences have acquired clear bipartisan congressional help, together with by way of the passage of the Power Act of 2020. The passage of latest laws has directed billions of {dollars} to superior nuclear demonstration initiatives which can be scheduled to be constructed within the U.S. and start operation by the top of the last decade.

Bipartisan help for superior nuclear is predicated not solely on its promise to cut back emissions and potential to ship international clear vitality at scale to help financial improvement but in addition on the understanding that U.S. international management on this subject is important to our core nationwide safety pursuits. Worldwide demand for U.S. superior nuclear know-how has solely intensified within the wake of Russia’s invasion of Ukraine and Europe’s extreme vitality disaster. Quite a few nations, together with some with 123 Agreements for peaceable cooperation firmly in place, are involved in partnering with the U.S. on superior nuclear initiatives that might qualify for DFC help. Exporting new and superior nuclear applied sciences like small modular and micro-reactors would help our allies’ rising vitality safety wants and permit DFC to fulfill its mandate to facilitate development in lower-income nations. Additional, prioritizing and deploying U.S. nuclear applied sciences enhances our broader overseas coverage targets to counter Russian and Chinese language efforts to make use of civil nuclear exports for their very own political and financial ends. 

Russian and Chinese language nuclear export bids are backed by state financing and government-to-government concessions. Thus, the DFC’s involvement in U.S. nuclear export initiatives is essential to the viability and competitiveness of U.S. nuclear applied sciences, to help long-term diplomatic partnerships, and to our persevering with stewardship over the best worldwide requirements for nuclear security, safety, and nonproliferation. Given the larger nationwide priorities at stake, we urge the DFC to pursue alternatives to implement this vital authority by financing nuclear initiatives and looking for further alternatives to draw new nuclear vitality candidates.

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Online event: Digital Finance Platform – Launch of phase II & data hub

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Online event: Digital Finance Platform – Launch of phase II & data hub

When: 21 March 2024 between 09:30 and 11:00

Don’t miss this online event that will launch the second phase of the Digital Finance Platform, a collaborative space bringing together innovative financial firms and national supervisors to support new thinking in the EU’s financial system.

A key novelty in this second phase is the Data Hub, which provides participating firms with access to synthetic supervisory data for the purpose of testing new solutions and training artificial intelligence and machine learning models.

The event will also take stock of the current state of play of digital finance and look forward to the way ahead.

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Charting the AI revolution: Accelerating adoption of AI in finance – The CFO

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Charting the AI revolution: Accelerating adoption of AI in finance – The CFO

The finance function within organizations is undergoing a significant transformation as the pace of technological advancement is unprecedented, with CFOs at the forefront of this change. They are faced with navigating through the complexities of integrating Artificial Intelligence (AI) into their operations. The adoption of AI in finance is not merely a trend but a strategic imperative that promises enhanced efficiency, accuracy, and insights. This article delves into the ways CFOs can accelerate AI adoption in their finance functions, the challenges they might face, and strategies to overcome these hurdles for a seamless transition into the AI-powered future.

Strategies for Accelerating AI Adoption

To expedite the integration of AI within finance functions, CFOs can adopt several strategic approaches.
Initially, focusing on automating the financial fundamentals is paramount. By automating manual processes across accounting and finance functions, organizations can significantly enhance productivity. This step is crucial in addressing the ongoing accountant talent shortages and improving business visibility through more frequent reporting.
Furthermore, centralizing data and training your own AI models is another vital strategy. An integrated solution, such as a cloud ERP system, can unify data across the business, providing a single source of truth. This approach not only saves time on manual data integrations but also ensures that AI can be as effective as possible.
By starting small and encouraging AI experimentation, CFOs can gradually build a robust foundation for AI within their finance functions, driving long-term change and efficiency.

Overcoming Challenges in AI Integration

Integrating AI into finance functions is not without its hurdles. One significant challenge is the lack of understanding and trust in AI technologies among small businesses, as highlighted by UK Tech Minister Saqib Bhatti. To overcome this, promoting trust and transparency in AI applications is essential. This involves providing increased support and educational resources to help businesses navigate the complexities of AI. Additionally, addressing environmental concerns associated with AI, as noted by Tom Dunning, CEO of Ad Signal, is crucial. Businesses must be mindful of the carbon emissions caused by AI and seek solutions to mitigate its environmental impact. Collaborating with industry and government to ensure the safe development of AI and equipping staff with the necessary skills to harness AI’s benefits positively are also key strategies. By tackling these challenges head-on, CFOs can facilitate a smoother integration of AI into their finance functions, unlocking new avenues for growth and efficiency.

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The Future of AI in Finance

The integration of AI into finance heralds a transformative era of efficiency, insight, and growth. As CFOs navigate this journey, the focus on strategic adoption, overcoming challenges, and learning from success stories will be pivotal. The future of finance is undeniably intertwined with AI, promising a landscape of unprecedented opportunities.

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Teacher using 'Lattimore Bucks' to teach personal finance

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Teacher using 'Lattimore Bucks' to teach personal finance

CHARLOTTE, N.C. — Every Monday, Renaissance West STEAM Academy math teacher Shelby Lattimore starts her class by charging her students for their seats, not with U.S. currency but with “Lattimore Bucks.” It’s a project she started last year as a way to improve attendance.

“It’s not just about having them here,” Lattimore said. “It’s about having them here for the whole day from start to finish, ready to rock and roll. On top of the fact, just to get them accountable for their behavior and taking accountability for certain things in the classroom.”


What You Need To Know

  • Shelby Lattimore started using “Lattimore Bucks” in her classroom to help curb attendance problems
  • Each student has a classroom job, they get paid every week with Lattimore Bucks
  • With their bucks they pay for rent, as well as fines if they misbehave.
  • They also can buy rewards to teach them personal finance lessons

Each student is assigned a job in the classroom, which rotates every two weeks.

“These are their jobs,” Lattimore said. “If they’re underlined, they get paid $10. So those are the harder jobs they have to do every day. And then the ones that are not underlined, like this one, he just has to change my calendar. He just has to change the day on the board, like once in the morning so he doesn’t get paid as much.”

With their salaries, her students pay their rent for their seats. 

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“Their rent was inflated as of January, from $5 to $7,” Lattimore said.

And if students misbehave, they’re fined. 

“Like if you purposely lose your pencil, rip your notebook, things of that sort and then of course disrespect,” Lattimore said. “And their fines are a dollar.”

The more Lattimore Bucks they save, the more rewards they can buy. That is, as long as they have enough to pay their rent.

“Let’s say they have $10, but they want to buy lunch with a friend. If I do 10 minus 5, you’re not, you don’t have $7 for your next rent. So they cannot buy anything past their rent that they have to keep in their wallet,” Lattimore said.

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While the project may have started to improve effort in the classroom, Lattimore says it’s morphed into a much bigger lesson for her students. 

“Some of their parents, you know, thank me all the time,” Lattimore said. “We talk about all the time in Charlotte, generational poverty is a huge statistic here, especially in the kids and the families that we serve in my school.” 

She’s instilling lessons of personal finance and budgeting into the lessons every day.

“So just starting the mindset of how can I hold onto money? How can I make long-term decisions with my money? It all starts from a very young age in a safe environment before they’re out in the real world,” Lattimore said.  

It’s done in hopes of setting up her students for the future.

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“Even my students from last year, they are telling me that they’re saving their money, and they’re budgeting their Christmas money for a pair of sneakers or whatever they want,” Lattimore said. “So they’re holding onto the lesson. So I can only imagine a couple of years from now when they’re adults, how that will affect their family.”

Lattimore says other teachers she knows have started similar programs in their own classrooms. She says the concept can be used at any school for any grade level as a simple way to teach basic finances.

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