Sustainable Innovation Forum 2015 showcases technological innovation, cross-sector partnerships and finance for a low-carbon future
Paris, 7 Dec ember 2015 – Corporate leaders, government ministers and international development banks leading the transition to a green economy highlighted the multi-trillion dollar business opportunities in responding to climate change at the Sustainable Innovation Forum, the largest business-focussed event held during the COP21 Paris Climate Summit.
More than 750 delegates from countries all over the world have gathered at the Stade de France to explore how businesses, financiers, cities and states, can work together to invest hundreds of billions a year in transforming energy, transport, cities and agriculture to meet global climate change targets.
The two-day event, organised by Climate Action and the UN Environment Programme (UNEP), aims to accelerate the development of a low-carbon, green economy by showcasing innovative technology solutions, sharing pioneering thinking, and building cross-sector partnerships.
The Sustainable Innovation Forum was opened by Achim Steiner, UN Under-Secretary General and Executive Director UNEP, and Dr Hakima El Haite, Minister of Energy, Mining, Water and the Environment of Morocco, which will host the 2016 COP22 UN Climate Summit in Marrakech.
More than 80 high-level speakers will take part in the two-day meeting involving multinational business leaders, entrepreneurs, government ministers from five continents, top executives from international development banks, and thought leaders from nongovernmental organizations and think tanks.
UNEP Executive Director Achim Steiner said: “As momentum for a sustainable future grows, we are already seeing the enormous opportunities for business of an inclusive green economy. We need look no further than the power sector, where last year half of all new infrastructure investments - some $270 billion - were in renewables. The market for low-carbon technologies and innovations is not some future concept. It is thriving today, and offers huge potential for those who would capitalize on it.”
Nick Henry, CEO of Climate Action, said: “Climate change not only presents the single largest threat to mankind, it also creates the greatest economic opportunity since the industrial revolution. Trillions of dollars will be spent in the next decades to develop a global green economy that creates long-term energy, food and water security and green jobs in the process”.
- Technology Pioneers – the forum showcases innovative solutions to climate change:
- CarbonWealth is announcing a breakthrough innovation - a profitable way to remove CO2 from the atmosphere, store much of it in the earth, and turn the rest into a clean fuel.
- Impossible Foods will preview their Impossible Burger, which recreates the flavours, textures and nutritional value of meat but is made entirely from plants. The company aims to reduce the need for animal farming which accounts for over 14 per cent of all anthropogenic greenhouse gas emissions, according to the UN Food and Agriculture Organization (FAO).
- Autodesk will outline how its 3D software is helping to create more sustainable cities by allowing designers to simulate and visualise solutions for tackling climate change. Its analytical tools integrate greenhouse gas emissions, energy use, carbon prices and green infrastructure and have been used to create everything from cars to the world’s tallest skyscraper. Autodesk software has also been used by the last 19 Best Visual Effects Oscar winning films.
- BMW will talk about cutting emissions, its partnership on climate change mitigation; its all-electric BMWi series and the radical sustainable innovation used in its manufacture; and its DriveNow premium car-sharing service in the US, UK, Germany, Austria, Denmark and Sweden.
Peter Schwarzenbauer, Member of the BMW Board of Management, said: “When it comes to the big challenges of the future, we have to take a systematic approach – because single companies will not be able to manage the digitalisation and decarbonisation of mobility alone. It will take networks and partnerships. The Sustainable Innovation Forum provides an ideal platform for sharing ideas within a high profile network and developing new ways to shape the future together.”
Country Pioneers – the forum will showcase markets demonstrating leadership and innovation:
- Morocco - Minister of Energy, Mining, Water and the Environment, Dr Hakima El Haite outlined the country’s ambitions on solar leadership – with $9 billion Noor Solar Project part-funded by the European Investment Bank and World Bank, which will provide enough power for a million homes. Morocco aims to generate half its electricity from solar, hydro and wind by 2020, with huge benefits for a country which currently imports 94 per cent of its energy as fossil fuels.
- Iceland - President, Ólafur Ragnar Grimsson demonstrated the country’s role as a global leader in geo-thermal clean energy, carbon reduction and green business. BMW is one of the companies which have chosen to base its data centres in Iceland, attracted by cost competitive renewable energy from hot rocks and rivers, year-round ambient cooling from the oceanic climate, and good data connections to North America and Europe.
- US – Secretary of Energy Dr Ernest Moniz discussed energy and low-carbon innovation with Swiss explorers Bertrand Piccard and André Borschberg, the pilots of the Solar Impulse plane, who will re-launch their attempt next year to fly around the world powered only by the sun, in order to demonstrate the power of renewable energy.
Investment Pioneers – the forum will showcase organisations generating finance for the transition to a green economy:
- The European Investment Bank (EIB) and Inter-American Development Bank (IDB) which, with four other multilateral development banks, have just announced plans to work together to substantially increase climate investments in support of the UN commitment to spend $100 billion a year by 2020 on climate action in developing countries.
- Carbon Trade Exchange (CTX) is a global exchange focused on environmental markets, encouraging investment in sustainable, clean-teach and energy efficient projects around the world. It operates the world’s largest spot exchange for voluntary carbon credits as well as spot exchanges in emissions, renewable energy and water.
- The Carbon Tracker Initiative supports the transition to a low-carbon economy by providing investors, markets and policymakers with analysis to recognise the financial risks of climate change. Its new report reveals that fossil fuel companies risk wasting up to $2.2 trillion by 2025 by pursuing business as usual strategies.
Werner Hoyer, President of the European Investment Bank, said: “I am optimistic that by pooling the efforts of the Development Banks to attract the private finance that is so critically needed, we can transform the ambitions of the leaders into a reality on the ground. For its part, the EIB is committing to provide US$100 billion by 2020 for climate action and to step up what we do in developing countries - in particular for those most vulnerable to global warming.”
Opportunities and barriers to the green economy
Felipe Calderon, Chair of the Global Commission on the Economy and Climate and former President of Mexico, delivered the closing keynote speech on the first day. The GCEC has highlighted the scale of opportunity in the green economy, calling for at least $1 trillion to be invested each year in clean energy alone.
It said: “Around US$90 trillion will need to be invested globally in cities, land use and energy infrastructure between now and 2030 to meet global growth and development objectives. It would cost as little as around 5 per cent more to make those investment choices low-carbon, and fuel savings alone could offset the higher investments. If we make the right choices and take the right actions now, these investments can drive the achievement of climate and development goals together.”
The conference will also discuss how to overcome barriers to the growth of the green economy:
- How business can encourage governments to set robust national policies which give investors the confidence to fund low-carbon activities;
- Regulatory frameworks needed to switch billions of capital markets funding from high-carbon to low-carbon activities, for example by recognising the risk from stranded fossil fuel assets and by switching subsidies from fossil fuel production and consumption to renewables;
- Accelerating low-carbon innovation by providing incentives that will encourage private investors to back emerging technologies and promising start-ups.
“Business has a critical role to play in the climate change agenda, by providing the innovation and finance necessary to facilitate the transition to a low carbon economy and influencing consumer behaviour. But it needs clear public policy”, said Nick Henry, CEO of Climate Action.
“Business will be pushing governments to take action at Paris and provide a policy framework. Clarity on issues such as carbon pricing, support for low carbon energy and how supply chains are sourced will give business greater certainty to invest in the green economy.”
French President François Hollande, hosting the summit, said: “COP21 will result in a ‘transformation of the world – in which business must play a central role as they are the drivers of innovating change across all sectors.”
For more details about the Sustainable Innovation Forum and a full agenda please visit http://www.cop21paris.org/
ENDS
To arrange media interviews please contact:
Faye Holst faye.holst@greenhousepr.co.uk +44 7521 898970
David Mason david.mason@greenhousepr.co.uk +44 7799 072320
ABOUT THE SUSTAINABLE INNOVATION FORUM AND CLIMATE ACTION
Sustainable Innovation Forum is an annual event organised by Climate Action and the United Nations Environment Programme (UNEP). Now in its sixth year, the Sustainable Innovation Forum brings together world leaders, CEOs, senior executives, national, regional and city leaders, investors and industry experts to share ideas and accelerate innovative solutions to address climate change, accelerate green growth and sustainable development. With its unique informative but relaxed environment, the Sustainable Innovation Forum facilitates collaboration through networking, informed discussion and the creation of innovative partnerships for change.
Climate Action establishes and builds partnerships between business, government and public bodies to accelerate international sustainable development and advance the ‘green economy’. We do this by providing a global media and events platform across which stakeholders can share knowledge, technologies and expertise, and identify innovative solutions to the challenges faced by climate change and a growing population.
