Obstacles to CSC for Nuclear Damage
The New Year will likely bring a sea change to the international regime of financial protection for nuclear incidents, writes James A. Glasgow, partner at Pillsbury Winthrop.
Some governmental and industry stakeholders have great expectations for the Convention on Supplementary Compensation for Nuclear Damage (CSC).
Adopting a more cautious outlook, many nuclear industry participants will likely assess the important gaps in international nuclear liability protection that will remain after the CSC enters into force. Depending on government decisions, nuclear vendors and operators who plan to rely on the CSC's financial protection may face a perfect storm, fueled by a proposed rule of the US Department of Energy, coupled with lawsuits against nuclear vendors and nuclear plant operators and augmented by doubts that the CSC will gain sufficient members to constitute a global regime.