THE WHITE HOUSE
Office of the Press Secretary
FOR IMMEDIATE RELEASE
Government and Business Leaders Gather in San Francisco at CEM7 and the Mission Innovation Ministerial to Accelerate Clean Energy Deployment and to Double Clean Energy R&D Investments over Five Years to $30 Billion per Year
President Obama’s leadership has helped catalyze the largest investment in clean energy in U.S. history and has expanded that progress globally, providing the opportunity to advance low-carbon economies, create jobs, and establish entirely new industries that will drive global wealth and prosperity. We are already starting to see progress. Last year, the world set two new records –global investment in renewable energy was the highest ever, and, for the first time, more than half of the world’s new electric capacity came from clean sources. In addition, by 2020, global energy efficiency investment in buildings is projected to increase from $90 billion in 2014 to over $125 billion. But we have more work to do.
That is why, today, the United States is hosting global energy leaders for the first time since the Paris Agreement at the Seventh Clean Energy Ministerial (CEM7) and the inaugural Mission Innovation (MI) Ministerial in San Francisco. At the meetings, energy leaders from 23 countries and the European Union, representing 90 percent of clean energy investment and 75 percent of global carbon emissions, will take ambitious action to help implement policies and solutions to meet their countries’ climate and clean energy goals. In particular, these countries are meeting with the dual goal of accelerating the deployment of today’s clean energy technologies through the CEM and investing in innovation for the technologies of the future through Mission Innovation.
Last year, in Paris, the President and the leaders of 19 countries launched Mission Innovation, a new effort to double public investment in clean energy research and development over five years. Today, those 20 nations, and the European Union as the newest partner, are announcing their specific plans to meet that target, and committing to invest nearly $30 billion per year in public clean energy research and development by 2021. In addition, today, at the CEM, 21 countries, the European Union, nearly 60 companies and organizations, and 10 subnational governments, are also making more than $1.5 billion in commitments to accelerate the deployment of clean energy and increase energy access – including towards three new, high-impact campaigns to promote corporate sourcing of renewables, commercial and industrial energy efficiency, and advanced cooling technologies. Today’s actions show that the transition to a clean energy future is inevitable and every sector and every level of government is involved.
This clean energy transition is reinforced by findings released today by Bloomberg New Energy Finance (BNEF) that renewable energy is expected to grow substantially in the next 25 years. In fact, globally, renewable energy installations are on track to increase more than 600 percent by 2040, adding nearly 4,900 GW of wind, solar, and other sources. However, even with these changes, global temperatures are expected to continue to rise at an alarming pace. In fact, according to BNEF for the power sector to make its share of contributions toward limiting global temperature rise to 2 degrees Celsius, an additional 3,000 GW of renewable energy and $2.9 trillion in investment will be required over the next 25 years.
That is why today’s meeting and announcements are so important, so countries can continue to work together to accelerate the transition to the clean energy economy of tomorrow in collaboration with our smartest scientists, engineers, and entrepreneurs.
Driving global investment in clean energy innovation
Mission Innovation: On November 30, 2015, during the first day of the Paris climate negotiations, President Obama joined 19 world leaders to launch Mission Innovation, an initiative to double public investments in clean energy research and development investment over five years. Today, at the inaugural Mission Innovation Ministerial, all 21 Mission Innovation partners, including the European Union as a new member, released their respective baseline investment and doubling plans.
Collectively, these 21 partners committed to double nearly $15 billion per year in baseline funding for global public investment in clean energy research and development, reaching just under a combined total of $30 billion per year by 2021. Today’s announcement exceeds the original baseline funding estimate of $10 billion per year.
The Mission Innovation partners also approved an Enabling Framework and created a Steering Committee to support implementation of the initiative. The Mission Innovation partners represent well over 80 percent of global public investment in clean energy research and development. These efforts under Mission Innovation represent an unprecedented acceleration of research and development efforts for innovative clean energy technologies. In fact, earlier this year, President Obama pledged to seek to double $6.4 billion in clean energy research and development funding for Mission Innovation for the United States.
Breakthrough Energy Coalition: Ministers also met with leaders of the Breakthrough Energy Coalition, including Bill Gates and other investors, who are interested in pursuing investments in Mission Innovation countries, underscoring the critical link between government innovation and entrepreneurship to bring affordable clean energy technologies to market.
Clean Energy Investment Initiative: The United States is continuing to show our leadership in clean energy investment. In addition to our Mission Innovation commitment, one year ago, the Obama Administration announced over $4 billion in commitments by foundations, institutional investors, and other long-term investors to scale up clean-energy innovation and climate change solutions, as part of the Clean Energy Investment Initiative. Today, additional private-sector stakeholders are making new commitments to accelerate clean energy innovation and expand investment in climate solutions:
- Wells Fargo is increasing support for building efficiency startups through the next round of its $10 million philanthropic Innovation Incubator (IN2) program, administered by the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory;
- Nia Community Fund is making a new $5 million investment commitment for clean energy solutions, Additionally, Nia has partnered with Green Alpha Advisors to build broader clean-energy investment options in public markets;
- 12 universities, Second Nature, and Clean Energy Trust are launching Campus Cleantech Pilots, a new partnership to accelerate clean energy technology commercialization by opening universities as first-of-a-kind testing and demonstration platforms for startup;
- Stanford University and the Stanford Linear Accelerator are announcing Bits & Watts, a research partnership to accelerate the integration of more than 50 percent renewable energy into the electricity grid;
- Hawaii’s Energy Excelerator is building on follow-on seed investments and sharing its clean energy startup accelerator model throughout California;
- PRIME Coalition, which facilitates catalytic charitable investment in early-stage climate innovation ventures, is expanding with new support from the John D. and Catherine T. MacArthur Foundation, among other foundations; and
- Mercer Investment Consulting will undertake a new project with the Center for International Environmental Law (CIEL) to educate U.S. public pension fund fiduciaries about the potential legal and economic risks associated with high-carbon portfolios and their opportunities to reduce those risks; as well as a new project with Divest/Invest Philanthropy covering the landscape of investment products available to this coalition of over 140 foundations and other investors representing $12 billion in total assets that have committed at least 5 percent of their respective endowments to investing in clean energy and climate solutions.
In the coming weeks, the Administration will take two new actions to further expand private-sector investment in clean energy innovation and accelerate the transition to a clean energy economy. DOE’s Clean Energy Investment Center is launching a first-of-its-kind Lab Partnering Service that will facilitate direct, streamlined access for the public to the clean-energy technology expertise of the National Laboratories. The U.S. Small Business Administration (SBA) is also publishing a draft rule to improve and permanently extend its Early Stage Small Business Investment Company (SBIC) program, focused on strengthening financing options for private funds that invest in clean energy technology companies and other early-stage, innovation-driven small businesses.
Supporting Paris implementation and clean energy deployment through the Clean Energy Ministerial
Today, we are announcing that in order to support the implementation of nationally determined contributions (NDCs) under the Paris Agreement, the Clean Energy Ministerial, an initiative that was started by the United States in 2010 and now involves 23 countries and the European Union, is launching an enhanced effort – called “CEM 2.0.” CEM 2.0 pairs high-level political engagement of energy ministers with sustained initiatives and high-visibility clean energy technology and policy campaigns to provide a powerful combination for accelerating clean energy policy and technology deployment. To support transparency and track progress, CEM members agreed to support the International Energy Agency (IEA) in taking on the role as the Secretariat. Nine CEM members – Canada, China, Denmark, Finland, Italy, Japan, Norway, Sweden, the United States – committed to providing start-up funding to support the first three years of the new Secretariat. Also, the European Union today announces that, in cooperation with a member state, they will host CEM9 in 2018.
Today, the IEA confirmed the clean energy potential of the NDCs submitted for the Paris Agreement. Based on analysis the World Energy Outlook series, the IEA shows that full implementation by all countries of their NDCs would increase global solar generation thirty fold and wind generation seven fold, when compared with 2010. According to IEA, this level of deployment would go hand in hand with further declines in costs: by 2030, IEA anticipates the reduction in the cost of wind and solar would be more than 90 percent of that required in IEA’s 450 Scenario, a 2 degree stabilization scenario. New targets and support schemes are set to increase the renewable deployment to 2030 beyond the NDCs.
To set us down this path, Secretary Moniz and fellow ministers announced financial support for the CEM’s Clean Energy Solutions Center and additional actions to decarbonize the power sector. The ministers also announced new campaigns in three high-impact areas – corporate sourcing of renewables, commercial and industrial energy efficiency, and advanced cooling technologies – that can cut global carbon emissions while driving economic growth. New commitments were also announced that will advance super-efficient lighting, transform power systems for the 21st century, improve energy access, and enhance the deployment of clean energy policy expertise. The commitments build on the more than 154 U.S. companies that have already joined the American Businesses Act on Climate pledge. Today’s commitments include:
Providing Technical Assistance for NDC Implementation: The Clean Energy Solutions Center offers no-cost, fast response expert assistance on clean energy policy and finance measures to countries around the world. Following the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21), the Solutions Center serves as a critical component in helping countries implement their Nationally-Determined Contributions (NDCs) and other climate and clean energy goals. In March, Australia committed $722,600 to the Clean Energy Solutions Center with a focus on the Asia Pacific region. Today, Sweden announced that it is providing $200,000 in support toward the Center, with an emphasis on support for Clean Energy Solutions Center technical assistance in Africa and the Caribbean.
Decarbonizing the Power Sector: GO15, an association of 18 of the world’s largest power grid operators, commits to working with the CEM to support programs that address operational, technological and financial challenges of power grid modernization. The ClimateWorks Foundation announces a strategic alignment of their philanthropic programs with CEM programs that support power sector decarbonization in Mexico, India, China and other CEM member governments. The energy ministries of Canada, Mexico, and the United States also announced their intention to jointly carry out a North American Renewable Integration Study – the single largest renewable energy integration study ever undertaken.
Increasing Corporate Sourcing of Renewables: The new Corporate Sourcing of Renewables Campaign focuses on driving additional deployment of renewables across the range of CEM member countries. RE100, a global business initiative led by The Climate Group in partnership with CDP, as an action of the We Mean Business coalition, has estimated that if 1,000 of the world’s most influential businesses become 100 percent powered by renewables, they could decarbonize almost a tenth of all electricity used worldwide and cut more than 1,000Mt of CO2 every year. Already, corporate purchase of power in the United States has supported more than 8 GW of projects, up from just 0.6 GW in 2009, and globally more and more companies are seeking out clean energy. CEM member governments and partners joining the CEM campaign will work to significantly increase the number of companies powering operations with renewable energy and deploy supportive policies and resources that can help facilitate additional corporate sourcing of renewables. Today we are announcing that:
- Germany and Denmark are announcing that they are leading this campaign, and China, the European Union, Mexico, the United Kingdom, and the United States are joining.
- International Renewable Energy Agency (IRENA), the Renewable Energy Buyers Alliance (REBA), RE100, World Business Council for Sustainable Development (WBCSD), World Resources Institute (WRI), are also joining the initiative in order to scale corporate procurement and drive additional deployment of renewables across the range of CEM member countries.
- Apple commits to work with CEM countries and partners to spur the development and procurement of renewable energy within its global supply chain. Apple is working with its suppliers to install more than 4 gigawatts of new clean energy worldwide, including 2 gigawatts in China by 2020. Apple’s supply chain is the single biggest source of its comprehensive carbon footprint, so the company is committing to actively engage with ministers and partners in the US, China and other CEM countries to drive the transition to green manufacturing.
- Autodesk is announcing three milestones: 1) Powering their facilities with 100 percent renewable energy – four years ahead of schedule. 2) Deepening their commitment to ‘credible’ renewable energy procurement – procuring energy that is additional, local and that spurs innovation. 3) Setting an internal price on carbon. These inter-related activities will accelerate progress toward Autodesk’s science-based greenhouse gas (GHG) emissions reduction target.”
- Facebook announces commitments to: 1) Fund the REBA initiatives; 2) Collaborate to expand REBA internationally, 3) Work through REBA to raise awareness and help other companies navigate the complexities of PPAs; 4) Work closely with utilities to develop green tariffs; and 5) Source 50 percent of our energy from clean energy sources in 2018.
- Google commits to work in collaboration with national governments, renewable energy buyers and suppliers, NGOs, and others across CEM members to convene a group of stakeholders to survey the policy and regulatory structures critical to enabling corporate purchasing of renewable energy and make policy recommendations for how to further unlock corporate renewable energy demand in CEM members.
- Microsoft is announcing that they will power their datacenters with energy that is at least 50 percent wind, hydro and solar by 2018 and 60 percent early next decade. This is a significant given that the IT sector including Microsoft are some of the fastest growing energy users in the world, consuming as much energy as a small state and in decades to come as much as mid-size nations. Microsoft is actively working through REBA to deliver on these goals in markets around the world. In addition, Microsoft pledged they will maintain 100 percent carbon neutrality on top of this new commitment.
- Wells Fargo commits to purchasing renewable energy to power 100 percent of operations by 2017 with a transition to long-term agreements that fund new sources of green power by 2020.
- While the CEM campaign is encouraging action by companies of all sizes, it is driving the biggest, most influential companies to make a 100 percent renewable power commitment and join RE100. The companies already signed up to this initiative were recognized during the Ministerial and the following companies announced they are joining RE100 taking the total number of committed companies in RE100 to 65.
- Dentsu Aegis Network is committing to sourcing 100 percent renewable electricity by 2020. The company recognizes that de-coupling carbon from growth will allow it to become resilient to resource scarcity and price fluctuations – delivering on carbon goals while achieving long term financial savings.
- Equinix has a long-term goal of using 100 percent renewable electricity with an interim goal of reaching 50 percent (against a 2015 baseline) by 2017.
- Interface, Inc. is committing to operate its factories on 100 percent renewable electricity by 2020. Based in the U.S., the company is already sourcing 94 percent renewable energy across its global operations.
- Tetra Pak is committing to powering its operations with 100 percent renewable electricity by 2030, with an interim goal to reach 80 percent by 2020. By joining RE100, Tetra Pak will benefit from expert guidance and peer-to-peer learning on renewable electricity options in different markets.
- TD Bank Group, the first Canadian company to join RE100, has sourced renewable electricity equivalent to 100 percent of its global operations since 2015. It also generates solar energy at 124 locations, including at its net zero energy branch in Florida.
Developing Climate Smart Cooling Technologies: The new Advanced Cooling (AC) Campaign challenges governments and industry to develop and deploy at scale super-efficient, smart, climate friendly and affordable cooling technologies critical for prosperous and healthy societies furthering the goals of the Montreal Protocol. Access to cooling can improve health, productivity, economic growth, and educational outcomes. For example, improving the average efficiency of air conditioners sold in 2030 by 30 percent could reduce emissions by up to 25 billion tons of carbon dioxide (CO2) over the lifetime of the equipment and reduce peak electricity demand by as much as 340-790 gigawatts. To help achieve this goal, today:
- Canada, China, India, Saudi Arabia, and United States are joining the Advanced Cooling Challenge and are committing to promote greater use of cost-effective, energy efficient air conditioning and refrigeration equipment through appliance efficiency policies and programs.
- The U.S. government is partnering with the Air Conditioning, Heating, and Refrigeration Institute (AHRI), the American Society of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE), the Alliance for Responsible Atmospheric Policy, and other governments and international organizations to conduct critical research regarding the safe use of mildly flammable (A2L) and flammable (A3) refrigerants as low-global-warming-potential (low-GWP) alternatives to hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) in the air conditioning and refrigeration sectors. This research will support the acceleration of updated safety standards to allow widespread use of these climate-friendly refrigerants in the United States and internationally. In support of this effort, the DOE is contributing $3 million in funding, AHRI is contributing $1 million, and ASHRAE is contributing $1.2 million.
- Daikin Applied is committed to developing equipment-specific demand response control solutions for our entire portfolio of HVAC products and systems. Intelligent Equipment™ from Daikin Applied is a cloud-enabled controls solution that forges a new path to HVAC unit efficiency. Daikin is already developing Automated Demand Response (ADR) for Intelligent Equipment, which will allow customers to maximize their energy efficiency and offset usage from peak hours, all at the unit level. Intelligent Equipment with ADR will also help utilities meet growing energy demands.
- Danfoss commits to speed the adoption of energy efficient equipment by providing a full array of components for low-GWP refrigerants, including deploying ejector technology which can improve the efficiency of CO2 systems by as much as 20 percent over traditional refrigerants in warm climates, and invest in a $5 million Application Development Center to help OEMs redesign traditional systems and to test them, with the aim of improving system efficiency.
- Goodman commits to the development of climate friendly heating and cooling systems that use low GWP refrigerants and provide high levels of energy efficient performance.
- Honeywell commits to increasing its production of its low-global-warming-potential (GWP) refrigerants, insulation materials, aerosols and solvents and anticipates spending nearly $900 million through 2019on research & development and new capacity to produce these next generation solutions, which have global warming potential equal to or better than carbon dioxide and at least 99.9 percent lower than the products they replace.
- Ingersoll Rand commits to spending $500 million by 2020 for research and development to deliver high efficiency and low GWP heating, ventilating, and air conditioning (HVAC) and refrigeration solutions to global markets before 2030.
- SFO commits to assessing its existing cooling equipment policies and programs and install, where appropriate, super-efficient, smart, climate-friendly and affordable cooling technologies within its facilities.
- The Children’s Investment Fund Foundation (CIFF) has assembled a team of experts to help governments and industry around the world, including in India and China, to increase the energy efficiency of air conditioners in parallel with the phase down of super-polluting HFC refrigerants. CIFF is providing a grant of $12.8 million to support this work. This work will complement CIFF’s comparable support over the past several years to phasing down super-pollutant HFCs and strengthening climate protection under the Montreal Protocol.
- The ClimateWorks Foundation commits to work with governments, industry, and other stakeholders to make cooling accessible, affordable, efficient, and climate-friendly, through a program of research, outreach and communications work.
- The Institute for Governance and Sustainable Development (IGSD) is assembling an expert energy efficiency team to work with governments and industries around the world to improve the efficiencies of air conditioner. The IGSD team will provide policy support and technical assistance for select countries and their industries. This will help phase out super-polluting refrigerants known as HFCs, while also supporting the switch to more efficient air conditioning technologies.
- The Natural Resources Defense Council (NRDC) supports the challenge’s goals to spur breakthrough action and innovation by governments, businesses, and non-profit groups, as well as consumer awareness, to advance high-performance cooling equipment. NRDC is committed to working with government officials, community leaders, businesses, local experts, and academics across the globe – including in China, India and the United States – to develop and deploy an integrated approach that enables a transition to affordable, low- and high-tech space cooling solutions, such as super-efficient air conditioners, fans and cool roofs. NRDC believes these options will maximize energy savings, improve air quality, reduce greenhouse gases and heat island effects, and ensure all individuals can be cool and comfortable in their homes, businesses, and vehicles.
Improving Energy Management: The new Energy Management Campaign aims to secure 50,001 global certifications to International Organization for Standardization (ISO) 50001 by 2020. ISO 50001, the global energy management system standard, has a proven framework of requirements to transform the way organizations manage energy and meet sustainable energy goals. Approximately 15,000 facilities worldwide have been certified to ISO 50001 since its launch in 2011, realizing energy improvements of 10 percent or more, often through low-cost or no-cost changes to operations. Broad implementation of ISO 50001 across commercial and industrial sectors globally could drive cumulative energy savings of approximately 62 exajoules by 2030, saving over $600 billion in energy costs and avoiding 6,500 Mt of CO2 emissions. The projected annual emissions savings in the year 2030 are equivalent to removing 215 million passenger vehicles from the road per year.
- A total of 15 CEM members are joining the campaign in a clear show of international support including Canada, Chile, China, Finland, Germany, the European Union, Indonesia, Japan, Mexico, Republic of Korea, Russia, South Africa, Sweden, the United Arab Emirates, and the United States Government efforts announced during the CEM will be amplified by commitments made from private sector leaders and endorsements from partner organizations.
- The United States is announcing a new national campaign that accelerates the adoption of ISO 50001 and its national program Superior Energy Performance, to maximize energy savings in industrial, commercial, and institutional facilities.
- Canada will accelerate the adoption of innovative energy management systems and practices, including ISO 50001, as part of a suite of new energy efficiency certifications for the Canadian industrial sector.
- The North American governments of the United States, Canada and Mexico are committing to advance ISO 50001 adoption in industry by establishing a regional ISO 50001 adoption target by 2017, supported by development of joint technical approaches and assistance programs in key sectors.
- Finland is committing to integrate the use of energy management systems in its 2017-2025 plan for the Voluntary Energy Efficiency Agreement scheme for energy-intensive industries and annual reporting of energy savings and key elements for their scheme implementation.
- With 3,400 companies already certified to ISO 50001, Germany will build on its global leadership and aim to establish 500 energy efficiency networks around the country by 2020 that through peer exchange will drive further energy cost savings and greenhouse gas emissions reductions.
- Indonesia, to boost domestic implementation of ISO 50001, commits to have 1000 energy managers and 700 energy auditors certified by 2019.
- Japan will contribute to improving energy efficiency in industry and commercial sectors abroad by promoting capacity building and sharing of best practices regarding energy management systems based on ISO 50001.
- Mexico commits to increasing adoption of energy management systems based on ISO 50001 by establishing an innovative program (Pronasgen) which is directed towards large energy users in the industrial and commercial sectors, as well as agencies of Mexico’s federal government.
- The Republic of Korea is committing to continuously pursue energy projects and programs to support industries to further conserve energy through energy management systems including the ISO 50001. These efforts will serve as a key to achieve national energy goals based on their Energy Master Plan.
- The United Arab Emirates will evaluate the role that energy management systems such as ISO 50001 can play in reinforcing a sustainable environment and economy as they develop a federal long-term energy strategy analyzing optimum scenarios for demand side management as well as energy supply.
- The United Nations Industrial Development Organization (UNIDO), through its work to promote inclusive and sustainable industrial development, commits to working with governments around the world to adopt energy management policies, and support energy management in enterprises of all sizes to improve their energy performance.
- Avant Garde Innovations, is committing to implement ISO 50001 in their facilities and to work with partners to promote ISO 50001 adoption; and to work with ISO 50001 certified companies to maximize their investments in clean energy technologies.
- The Carbon Trust is committed to helping participating countries by offering its expertise in creating the required infrastructure to enable organizations to effectively implement energy efficiency measures and encourage best practice in energy management. This includes appropriate policy levers together with an available market of skilled energy efficiency expert advisers and trusted equipment suppliers.
- The Climate Group commits to promote ISO 50001 as one of the many tools that companies can use to fulfil energy productivity commitments made through the EP100 campaign.
- ClimateWorks Foundation commits to assess and support the transferability and scaling up of ISO 50001 and related policy incentives.
- Cummins commits to achieving ISO 50001 certification for a total of 40 manufacturing sites by 2020.
- The LG Chem Ochang Plant commits to maintaining its own certification to ISO 50001 as well as providing supply chain partners with technical support to help them improve their energy and environmental performance through energy management.
- Pacific Gas and Electric Company, PG&E will educate its commercial and industrial customers about the ISO 150001 energy management standard as a vehicle to achieve greater energy savings and to help meet California’s commitment to double energy efficiency by 2030.
- Samsung Electronics will maintain ISO 50001 certification for all of its manufacturing sites worldwide as a key strategy for meeting its goal to reduce GHG emissions intensity from global facilities by 70 percent based on 2008 levels.
- Schneider Electric pledges to certify 150 of its facilities to ISO 50001 by 2017; and promote international best practices in energy management, ISO 50001 certification, and Superior Energy Performance to its clients.
Financing Programs for Clean Energy: Today, DOE is also releasing Federal Financing Programs for Clean Energy, a resource guide to U.S. government programs that support the development of clean energy projects in the U.S. and abroad. Featuring more than thirty programs from ten agencies, the guide includes summaries and case studies of programs that can benefit private sector partners in finding capital for clean energy projects. Now in its third edition, the guide includes financing programs for both domestic and international projects. For every program listed, the guide identifies contact information to answer questions and provide additional direction. The guide includes programs from the U.S. Departments of Agriculture, Energy, Housing and Urban Development, State, Transportation and Treasury, along with the Environmental Protection Agency, Overseas Private Investment Corporation, and the Small Business Administration.
Increasing access to clean energy and efficient technologies
Through the CEM’s energy access initiative the Global Lighting and Energy Access Partnership (Global LEAP) and Global Lighting Challenge (GLC) members and partners are also working to catalyze the development of commercial markets for clean energy access solutions and deploy 10 billion highly efficient Light-emitting diode (LED) lamps around the world. To help achieve these shared goals:
- The Government of Italy is announcing that it is providing $7.2 million in new funding to support the World Bank Group’s Lighting Global program, including its groundbreaking quality assurance framework, increasing the Italian government’s total support for the program to $20.75 million since its first investment at the inaugural CEM.
- The Governments of Canada and United Arab Emirates endorse the Global Lighting Challenge, which was launched in Paris during COP21, joining the 14 original CEM members who had participated in the Challenge launch.
- Power Africa announces a $1.5 million multi-year commitment to support the expansion of Global LEAP+RBF to East Africa. Global LEAP+RBF is an innovative new partnership to drive and demonstrate scale in the global off-grid appliance market.
- The United States is announcing the third round of the Global LEAP Awards, featuring competitions for the world’s highest quality, most cost-effective and energy efficient off-grid appliances. The 2016-17 awards will be supported by Power Africa, through the U.S. Department of Energy, and the U.S. Agency for International Development’s (USAID) U.S. Global Development Lab.
- Cleveland Clinic is joining the GLC and so the retrofits of all their hospitals as well as any new construction will count towards the global 10 billion goal. Cleveland Clinics are committed to tracking not only the cost and emissions savings but also the health benefits of advanced energy efficient lighting options. Cleveland Clinic expects to retrofit 500,000 tubes and bulbs to LED over five years.
- Global LEAP, together with UK’s Department for International Development, the ClimateWorks Foundation and Power for All, are convening a high-level event, “EnergyAccessX”, where entrepreneurs, thought leaders, technologists, designers, and policy experts will gather to discuss the role of distributed renewables in advancing universal energy access.
- Philips Lighting is committing to sell more than two billion energy efficient LED light bulbs by 2020. Reaching this goal is estimated to save an amount of energy equivalent to that generated by 60 medium-sized coal-fired power stations with emissions equivalent to those from 24 million cars by 2020. The company also reaffirms its pledge to make its global operations carbon neutral by 2020 and said that it expects electricity for its U.S. operations to be 100 percent from renewable sources later this year.
- MGM Resorts International is announcing that they are joining the GLC, building on their commitment 2014, to retrofit 1.3 million traditional light bulbs to high efficiency lamps. At this point in the initiative, MGM has already installed over 850,000 lamps, and is as such over half way towards its goal.
- SFO commits to installing high-efficiency and high-quality lighting products within all retrofit projects and new construction projects.
- Washington State is committing to require new investment in cost-effective, high-efficiency lighting by strengthening the state’s energy code, ensuring its utilities capture all cost-effective electricity efficiency opportunities, growing state and private sector investment in modern lighting for public buildings, and securing safe and effective LED lighting for all streets and highways in the state. Washington should be able to achieve more than 2.5 million megawatt-hours of energy efficiency improvement over the next 20 years.
- XPRIZE is announcing their commitment to incentivize innovation and technologies that aim to provide energy abundance for all, including off-grid populations. The development of prizes and other activities to address energy access follows the NRG COSIA Carbon XPRIZE – a $20 million global competition over 4.5 years to address carbon emissions by incentivizing technologies that convert CO₂ emissions into valuable everyday products like building materials and alternative fuels. The Carbon XPRIZE and future energy innovation challenges are part of XPRIZE’s growing portfolio of Energy & Environment prizes and long-term vision for accelerating revolutionary energy technologies to help move the world towards a clean, abundant energy future.
Supporting subnational actions to accelerate the transition to clean energy
In order to successfully transition to the clean energy economy of tomorrow, every level of government must be involved. That is why, yesterday, the State of California hosted the first Subnational Clean Energy Ministerial and next week Beijing will host the U.S. China Climate Leaders Summit. In addition, we are announcing the following actions:
Expanding the Number of Subnational Governments Committing to Reduce Carbon Pollution through the Under2MOU: Yesterday, Governor Jerry Brown announced 7 new signatories to the Under2MOU – City of Budapest, Hungary, Laikipia County, Kenya, City of Portland, USA, City of Sacramento, USA, City of Santiago, Chile, Telangana, India, and Veneto, Italy. Since the effort began just over one year ago, the Under2 MOU has grown to a coalition of 135 jurisdictions representing 32 countries and six continents. Together, they represent more than 780 million people and $21 trillion in GDP, equivalent to more than a quarter of the global economy. Under the agreement, signatories commit to either reducing greenhouse gas emissions 80 to 95 percent below 1990 levels by 2050 or achieving a per capita annual emission target of less than 2 metric tons by 2050. These targets allow each individual government to tailor emission reduction plans to fit regional needs.
Enhancing the Pacific Coast Collaborative: Leaders from the Pacific Coast Collaborative (PCC)-a partnership between California, Oregon, Washington and British Columbia-announced a new pact with mayors from Los Angeles, Oakland, Portland, San Francisco, Seattle, and Vancouver to slash greenhouse gas emissions through new clean energy initiatives. The agreement outlines shared commitments and concrete actions to improve buildings, transportation, and waste management on the west coast. California, Oregon, Washington and British Columbia also signed an updated and strengthened PCC agreement that maintains the region’s commitment to account for the cost of carbon pollution and build a market for low carbon transportation fuels, while launching new collaboration to reduce short-lived climate pollutants and promote integration of the regions electricity grids.
Advancing National and Subnational Innovation in Clean Energy Finance. This week, DOE hosted a finance roundtable this week to discuss green banks and green bonds, which represent growing trends for public financial institutions at both the national and subnational levels. At the roundtable, leading stakeholders made the following announcements advancing public innovations in clean energy finance:
- The Organization for Economic Co-operation and Development (OECD) announced the release of a new report, “Green Investment Banks: Scaling up Private Investment in Low-carbon, Climate-resilient Infrastructure”. This report, prepared with the support of Bloomberg Philanthropies, provides the first comprehensive study of publicly capitalized green investment banks (GIBs), analyzing the rationales, mandates and financing activities of this relatively new category of public financial institution.
- The Green Bank Network (GBN), a global platform launched at Paris COP-21 to share best practices on innovative public-private clean energy finance, announced that a Memorandum of Understanding has been signed by all of its members: the UK Green Investment Bank, the Japanese Green Finance Organization, the Malaysian Green Technology Corporation, the Australian Clean Energy Finance Corporation, the Connecticut Green Bank and the New York Green Bank. In addition, the GBN announced the launch of greenbanknetwork.org.
- Energy Programs Consortium (EPC) announced the release of a report entitled “The Warehouse for Energy Efficiency Loans (WHEEL) Feasibility Study: India, China, Brazil and the EU”. The report, with support from the ClimateWorks Foundation, explores the feasibility of globally scaling WHEEL, a US public-private-philanthropic partnership model for residential clean energy finance. EPC is advancing a project with the World Bank using this model to securitize commercial and industrial energy efficiency loans in India.
- Allotrope Partners, in partnership with the World Resources Institute and the National Renewable Energy Laboratory, announced the launch of the Nationally Determined Contribution Investment Accelerator (NDC IA) under the Low Emissions Development Strategies Global Partnership. This innovative public, private partnership will accelerate deployment of renewable energy in developing countries by addressing key policy and financing gaps.