Japan plans to join pact on nuclear compensations

8 years ago by in Featured, Japan

Japan’s government decided to join an international pact led by the U.S. in order to diminish the risks of high compensations costs in the event of nuclear accidents.

It could start contributing in the next fiscal year, which starts in April.

Other three countries – Morocco, Romania and Argentina – have already joined the agreement, which is called the Convention on Supplementary Compensation for Nuclear Damage. Member countries are contributing to a common fund and they can withdraw money if they suffer a nuclear accident.

According to the agreement’s statute, at least five members with a combined nuclear capacity of 400,000 megawatts are required for the scheme to function. The U.S. has invited Japan to join, the Japanese press reported.

The Japanese government is trying to regain public trust in its plans to restore nuclear energy in the country. Currently only three out of the country’s 54 nuclear reactors are in operation with the rest either being damaged or taken offline for safety checks.