December 2017 saw another monumental event in Paris – the One Planet Summit.
Co-organized by French President, Emmanuel Macron, the President of the World Bank Group, Jim Yong Kim, and the Secretary-General of the United Nations, António Guterres, the One Planet Summit set out to demonstrate the power of collective action on global problems, like climate change.
The news coming out of One Planet Summit is encouraging. One exciting announcement came from the EU Commission when they announced their €5 million prize “Fuel from the Sun: Artificial Photosynthesis”. Within the context of this prize, the winning device will produce a usable synthetic fuel capable of powering a small engine. Interestingly, neither hydrogen nor PV-powered electrolyzers are eligible for this prize. EU member states and those eligible for the Horizon2020 program are able to participate in this prize –
Another noteworthy announcement came from Mission Innovation, working with partner Breakthrough Energy Coalition 5 Mission Innovation member states were selected to develop Public-Private collaborations that promote low-carbon energy investment.
Breakthrough Energy made one of the largest announcements of the Summit – the 5 areas of that will see the initial investments from Breakthrough Energy are: Grid-scale storage, Micro-/mini-grids, Alternative building materials, Geothermal, and Liquid-fuels. These initial investments are not the traditional rapid return items. Breakthrough Energy’s Co-Founder Bill Gates is committed to investing in long-term projects typically considered off-limits to traditional large funds.
We can’t possibly cover all of the exciting news from the One Planet Summit, if you want more reactions check out the hashtag #OnePlanet and see what everyone else is excited about!