Markets For Clean Energy Technology Innovation Get Global Boost With COP26 ‘Breakthrough Agenda’

Markets For Clean Energy Technology Innovation Get Global Boost With COP26 ‘Breakthrough Agenda’

Collector containers at the Orca direct air capture and storage facility, operated by Climeworks AG, ... [+] in Hellisheidi, Iceland, on Tuesday, Sept. 7, 2021. Startups Climeworks and Carbfix are working together to store carbon dioxide removed from the air deep underground to reverse some of the damage CO2 emissions are doing to the planet. Photographer: Arnaldur Halldorsson/Bloomberg Over 40 world leaders have backed and signed up to the Breakthrough Agenda which, it is hoped, will accelerate investment into clean energy technologies and stimulate collaboration between the public and private sectors. Signatories include the US, India, EU, China, developing economies and some of the countries most vulnerable to climate change – representing more than 70% of the world's economy and every region. The key driver behind the move is the importance of keeping the 1. 5C target, equated with net zero by 2050, within reach. It is hoped that this approach will see a range of fairly immature technologies follow the same cost curve as solar, which saw a fall in price of over 90% within a decade. It also supports the UK Presidency's key aims to secure global action on phasing out coal and accelerating the transition to electric