Bill Gates and the EIB: A new model to accelerate green innovation
13 July 2021
Most green technologies are still more expensive than the systems they’re trying to replace, and they don’t do a better job providing energy. In many cases, they do a poorer job. Clean jet fuel, for example, provides less energy per litre than the conventional stuff, and it costs a lot more.
This is bad news for the fight against climate change. The world needs to eliminate greenhouse gas emissions by 2050, and reaching that point will take inventing and deploying many more clean-energy products. Products aren’t getting cheaper or better fast enough, and the market isn’t growing as fast as it could.
To accelerate innovation, we need a new model for financing and producing clean-energy technology. This is why Bill Gates-led Breakthrough Energy created a financing program called Catalyst. The tool will attract major investors and make a big difference for technologies such as long-duration energy storage, sustainable aviation fuels, carbon dioxide removal systems and green hydrogen.
Bill Gates explains on his blog how Catalyst and the European Investment Bank will work with the European Commission to mobilise up to $1 billion for innovation in green projects.
The European Investment Bank (EIB) President Werner Hoyer and Vice-President Ambroise Fayolle will discuss climate action at a series of events this week during the 76th session of the United Nations General Assembly and New York Climate Week. They will explain how the EIB is raising its climate ambition and will highlight the importance of partnerships to meet global climate goals. They also will outline what it will take to make the COP26 climate conference a success.
The threat to biodiversity is often overshadowed by the climate crisis, though it is in fact key to achieving the objectives of the European Green Deal, because the two issues are closely linked, says European investment Bank Vice-President Ambroise Fayolle.
La BEI a participé au Forum économique de Karpacz en Pologne (du 7 au 9 septembre) pour débattre de la question de l’après-pandémie avec des experts, des représentants d’entreprises et des décideurs issus des milieux politique, économique et universitaire polonais.