India launches global initiative for clean energy innovation

India on June 2 launched the Mission Innovation CleanTech Exchange, a global initiative that will create a network of incubators across member countries to accelerate clean energy innovation. 

The network, launched virtually at the Innovating to Net Zero Summit hosted by Chile, will provide access to the expertise and market insights needed to support new technologies to access new markets globally.

Key Highlights

• India among 23 governments collectively launched bold new plans to catalyse action and spearheaded a decade of innovation to drive global investment in clean energy research, development and demonstrations. 

• The goal is to make clean energy affordable, attractive and accessible for all this decade, to accelerate action towards the Paris Agreement and net zero pathways.

• Mission Innovation 2.0 is the second phase of the global Mission Innovation initiative, launched alongside the Paris Agreement at the 2015 UN climate conference.

• Its members — collectively responsible for over 90 percent of global public investment in clean energy innovation — are committed to increase investment and collaboration to deliver the technologies needed to overcome the world’s most difficult climate challenges. 

• Achieving the Paris Agreement goals of limiting global warming to well below two degrees Celsius, compared to pre-industrial levels, requires huge leaps in energy innovation this decade.  

SOURCE: Economic Times

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