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30 Nov 2015

United Nations Framework Convention on Climate Change Newsroom

20 Major Economies to Double Clean Energy R&D: Bill Gates Brings in Private Sector to Back Initiative

Twenty countries, all of them major economies, have launched Mission Innovation, a landmark commitment to dramatically accelerate public and private global clean energy innovation, including doubling their current investments in the sector…The group of countries, representing 80 percent of global clean energy research and development (R&D) budgets, have committed to double their R&D investments over five years…These national commitments are coupled with a major, independent private sector initiative spearheaded by Bill Gates…28 investors from 10 countries have joined the Breakthrough Energy Coalition to make an unprecedented commitment to invest patient capital in early-stage technology development coming out of the Mission Innovation countries.These investments…will catalyze broad business participation in the commercialization and deployment of clean energy technologies worldwide. The Mission Innovation countries have released a joint statement detailing their initiative.