World leaders launch ‘breakthrough agenda’ for affordable cleantech globally
More than 40 world leaders, including those representing the UK, the US, India, China and the EU, have signed up to a new declaration aiming to deliver clean and affordable technology and solutions across the globe by 2030.
Unveiled during Tuesday’s (2 November) discussions at COP26, the Breakthrough Agenda will assist in global efforts to halving emissions by 2030 and keeping 1.5C alive. It has been backed by nations representing more than 70% of the world’s economy, including developing nations.
The Agenda aims to make clean technologies to clean up polluting sectors affordable and attractive for all nations by 2030.
UK Prime Minister Boris Johnson set out the first five “Glasgow Breakthroughs” that cover more than 50% of global emissions.
These include making clean power the prominent option globally, making zero-emission vehicles the new normal, creating markets and support for “near-zero” steel and ensuring it is used in infrastructure projects globally, creating low-carbon hydrogen globally and delivering climate-resilient and sustainable agriculture across the world by 2030.
According to the Agenda, delivering these five breakthroughs could create 20 million new jobs globally, while boosting the world’s economy by $16trn.
UK Prime Minister Boris Johnson said: “By making clean technology the most affordable, accessible and attractive choice, the default go-to in what are currently the most polluting sectors, we can cut emissions right around the world.
“The Glasgow Breakthroughs will turbocharge this forward so that by 2030 clean technologies can be enjoyed everywhere, not only reducing emissions but also creating more jobs and greater prosperity.”
The initiative aims to stimulate both public and private investment in green technologies that help decarbonise and innovate.
Nations have also committed to discuss global progress every year in each sector starting from 2022. This will be facilitated through annual reports from the International Energy Agency in collaboration with the International Renewable Energy Agency and UN High Level Champions.
£3bn climate aid fund
It comes one day after Boris Johnson unveiled major new climate funding of more than £3bn to help developing nations embrace green growth, as he used his speech at the COP26 Opening Ceremony to call on nations to “set off on a journey to a cleaner, greener future”.
The Prime Minister used the open ceremony of world leaders at COP26 to kickstart a new UK-based Clean Green Initiative (CGI), that will aim to scale up private investment in low-carbon and sustainable infrastructure globally.
The CGI will see the UK deliver more than £3bn in climate financing over the next five years to support developing countries. This will include a new £200m Climate Innovation Facility. The total amount is double what the UK’s development finance institution, the CDC, invested in climate projects its previous strategy period from 2017-2021.
UN High-Level Climate Champions for COP25 and COP26, Gonzalo Munoz and Nigel Topping, said: “With key private sector actors mobilizing behind the breakthroughs necessary to achieve a net-zero world in time and world leaders signing up to the Breakthrough Agenda, governments across the world will help dramatically scale and speed up the race to zero emissions and deliver the promise of the Paris Agreement.
“This is what the future of COP26 is all about – catalysing an innovative ambition loop between political leadership and the dynamism of the private sector to drive towards a resilient, prosperous zero-carbon future.”