India launched a global Initiative ‘Mission Innovation CleanTech Exchange’ with the aim of creating a network of incubators in member countries to boost clean energy innovation.
Highlights
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Mission was launched virtually at “Innovating to Net Zero Summit, 2021″ organised by Chile.
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It will provide access to expertise and market insights that are required to support new technologies in order to access new markets across the world.
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A total of 23 governments participated, out of which India launched new plans to prompt action and spearheaded decade of innovation so that it could navigate worldwide investment in clean energy research, development and demonstration.
Aim of the Mission
Mission was launched with the aim of making clean energy affordable, attractive and accessible for decades and to escalate action towards Paris Agreement & net-zero emissions.
Mission Innovation 2.0
Mission Innovation 2.0 is the Second phase of global initiative, launched along with Paris Agreement at UN climate conference 2015. Member countries are responsible for over 90% of global public investment and collaboration so that, technologies can be provided to overcome toughest global climate challenge.
How technologies are significant in achieving the goal?
Half of global emissions reductions are required to achieve national and global climate targets by 2050, depending on technologies available today. But available technologies are not sufficient, effective and affordable for utilise at large scales such as clean hydrogen, advanced battery storage and zero-emission fuels. Thus, Mission innovation 2.0 will catalyse public-private action & investment through sector-specific missions. It will boost development of clean energy innovation.