Energy represents two thirds of GHG emissions but according to the International Energy Agency, only 7 out of 45 sustainable energy technologies critical to meeting global climate targets set in Paris are advancing fast enough. This project aims to significantly accelerate the pace of sustainable energy innovation and market adoption of new energy technologies and solutions. It is doing this by catalysing multistakeholder partnerships and advocating bold ideas targeted at policy and financial mechanisms.
The project has forged a strategic collaboration with Mission Innovation, an organisation of 24 countries plus the EU committed to doubling their R&D expenses for clean energy innovation until 2020 (compared to 2015), to advance public private cooperation in sustainable energy innovation. The project is also working closely with decision-makers to implement new ideas for bringing innovative energy technologies and solutions faster to market.
In 2018, the project published a whitepaper with 6 bold ideas to accelerate sustainable energy innovation. To unlock more investments in energy cleantech and help fill a current gap in the international landscape, the World Economic Forum in collaboration with KPMG have developed a concept for a first of its kind Global Sustainable Energy Innovation Fund (SEIF). The SEIF will blend public and private finance to de-risk investors and support disruptive energy innovations worldwide with the potential to significantly reduce CO2 emissions and deliver returns. A primary investment manager will build the fund and create a coalition of public and private seed investors willing to champion its launch. It is planned to officially announce the fund at the Annual Meeting 2020 in Davos-Klosters.
For more information, please contact Espen Mehlum, Head of Knowledge Management and Integration, Shaping the Future of Energy at Espen.Mehlum@weform.org