Government and private sector
leaders will announce commitments and partnerships on Tuesday to achieve a
major increase in investments for research and development in low-carbon
technologies and ways to speed up their diffusion in developing countries.
The Lima to Paris Action Agenda
(LPAA) Focus on Innovation will build on the pledges made at COP 21 on November
30 under “Mission innovation”.
The initiative of 20 countries,
all major economies, aims to dramatically accelerate public and private global
clean energy innovation, including doubling their current research and
development (R&D) investments in the sector.
The initiative is coupled with a
private sector effort called the “Breakthrough Energy Coalition” led by Bill
Gates to invest extraordinary levels of private capital in clean energy.
Together
with private sector leaders, speakers will highlight the benefits of
collaboration between public and private stakeholders and showcase successful
initiatives to scale up energy technology innovation.
The Energy Ministers from India,
France, China, Brazil, UAE and Sweden and CEOs of major innovation companies
will detail the financing needs to scale up RD&D in low carbon energy
technology.
The
event will also discuss how to accelerate innovation in developing countries by
enhancing local innovation capacity.
Leaders
from the public and private sectors in developing countries will showcase their
actions and present the specific needs of their countries to drive innovation.
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