21 Major Governments and the European Union Announce Efforts to Double Clean Energy R&D Investments over Five Years to $30 Billion per Year
SAN FRANCISCO, Calif. – U.S. Energy Secretary Ernest Moniz hosted 23 governments and the European Union for the seventh Clean Energy Ministerial (CEM7) and the inaugural Mission Innovation (MI) Ministerial. At CEM7, three new global campaigns were launched: the Advanced Cooling Challenge, the Energy Management Campaign, and the Corporate Sourcing of Renewables Campaign. The countries also agreed to launch a new phase of collaboration – “CEM 2.0.”
In a second ministerial meeting also in San Francisco, the 20 Mission Innovation partners welcomed the European Union as the 21st member, and all members released their respective baseline investment and doubling plans. Collectively, the MI 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.
As the first major gathering of global energy ministers since last December’s Paris Agreement, CEM7 and the MI Ministerial brought together clean energy leaders from around the world. This meeting represented a crucial step towards accelerating both the deployment of today’s clean energy technologies and innovation for the technologies of the future. Ministers committed to ambitious action on implementing policies and solutions to meet countries’ climate and clean energy goals.