One of the big news stories coming out of the Paris Climate Change Conference is the announcement of a new private funding group called The Breakthrough Energy Coalition backed by Bill Gates, Jeff Bezos, Mark Zuckerberg and others. This group will be joining the efforts of government funding to advance our movement down the path of renewable energy and technology improvements that would reduce carbon emissions and address climate change.
Per a report on PBS Newshour, The Breakthrough Energy Coalition will invest in innovations for “electricity generation and storage, transportation, industrial use, agriculture and energy system efficiency” to mitigate greenhouse gas emissions. However, this statement doesn’t list a monetary goal for the fund, yet the backers are notable.
In a separate press release, President Barack Obama said the U.S., France and 18 other countries would launch a sister multi-national fund called Mission Innovation in conjunction with The Breakthrough Energy Coalition. This program will focus on similar zero-emissions innovations created by the public sector rather than the private sector.
This is exciting news and will help further propel the world powers further down a path of renewable energy. I would add that this movement will also help in addressing our water crisis which is the number one risk issue facing the planet over the next ten years per the World Economic Forum 2015 Risk Management Report, with climate change action coming in second. It should be noted climate change impacts the water crisis in a negative way, as it accelerates the evaporation of water from reservoirs.
More on this exciting and much needed announcement can be found with the following link to the PBS Newhour article.