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Mission Innovation the Story So OVA INN TION ON SI IS M T H E S TO RY S O FA R 2020 IMPACT REPORT Mission Innovation is a global ACHIEVEMENTS AND IMPACT intergovernmental initiative working Mission Innovation members are continuing to work to accelerate clean energy innovation towards meeting their commitment to seek todouble their 25 members on 5 continents are working to investment in clean energy innovation over 5 years. stimulate innovation with the objective to make clean energy more widely affordable. This report sets out Mission Innovation SINCE 2015 members’ achievements to date. Mission Innovation members’ have delivered: Mission Innovation $4.9bn 70 has four goals increase international in annual investment publications in clean energy highlighting the work innovation of Mission Innovation $1.4bn funding for 70 new 40 international innovators collaborations selected as Mission supporting clean energy Innovation Champions innovation Substantial Increased Increasing Raising 1000 boost in private sector international awareness 62 public-sector engagement collaboration of transformational innovations events investment and investment potential ofenergy globally with the potential on 4 continents innovation to avoid 12 gigatonnes involving 185,400 CO2 emissions per year by innovators, investors 2030 if fully deployed mission-innovation.net and policy makers 2 Timeline DECEMBER 2018 MAY 2018 NOVEMBER 2015 COP24, Katowice 3rd Ministerial, Malmo • Side event at the UK Pavilion on Launch of Mission Innovation (MI), COP21, Paris • Austria welcomed as the 24th MI member role of clean energy innovation in pursuing efforts towards 1.5°C “ Participating countries have come together to launch Mission Innovation • Delivering the MI Action Plan published to reinvigorate and accelerate public and private global clean energy • Announcement of collaborations with • Strong MI presence contributed innovation with the objective to make clean energy widely affordable.” the International Energy Agency and to keeping innovation high Joint Launch Statement International Renewable Energy Agency on the political agenda • Launch of the 8th Innovation Challenge on Renewable and Clean hydrogen MAY 2019 4th Ministerial, Vancouver • Morocco welcomed as the 25th MI member • Announcement of collaborations MARCH 2018 with the World Bank and Global Covenant of Mayors MI Clean Energy • Opened dialogue to increase private Financing Event, Vancouver sector participation and include Clean energy companies women, youth and innovators JUNE 2016 from MI members had the opportunity to pitch and speak Inaugural Ministerial, San Francisco to more than 90 major investors at this event organised by SEPTEMBER 2020 • The European Commission, acting on behalf of the European Union, becomes the 21st Natural Resources Canada member, adding $1 billion to the annual MI member spend on clean energy innovation 5th Ministerial, Saudi Arabia • Ministers met with members of the Breakthrough Energy Coalition, including • A virtual Ministerial hosted Bill Gates, to discuss the importance of collaborating with the private sector by Saudi Arabia • $4.9 billion annual increase in public DECEMBER 2017 funding and 70 collaborations reported JUNE 2017 • Decision on development of NOVEMBER 2016 2nd Ministerial, Beijing One Planet Summit, Paris a second phase (MI 2.0) The Breakthrough Energy • Launch of the MI Action Plan with COP22, Marrakesh Coalition announces partnerships four goals driving MI’s efforts • Finland and the Netherlands with five MI members (Canada, welcomed as the 22nd and • Announcement of collaboration United Kingdom, France, JANUARY 2018 with the World Economic 23rd members Mexico, and the European World Economic Forum meeting, Davos Forum to increase linkages with • Launch of seven Innovation Commission), representing a the private sector on MI clean MI represented at the Forum’s Stewardship Challenges, global calls to new approach to public-private energy innovation investments Board on “Shaping the Future” and Accelerating action for international collaboration that supports low Sustainable Energy Innovation sessions collaboration in important carbon energy investments technology areas 4 PROGRESS TOWARDS GOAL 1 Substantial boost in public-sector investment NETHERLANDS Mission Innovation (MI) members are continuing to The Netherlands is close to tripling their MI- work towards meeting their commitment to seek to related RD&D investments in four years, double their investment in clean energy innovation reaching about €285 million in 2019. Amongst over five years. In Year 4, members reported a total the most successful national programs that supported energy-innovation projects are the annual increase of $4.9 billion against their baselines. Topsector Energy Program, the Demonstration Program for Climate & Energy Innovation, and Additional annual public sector Increase in public sector the Renewable Energy Program. Additional investment ($) over MI baseline investment over MI baseline (%) funding for the missions of the National Climate Chile, Japan, Netherlands, Norway Agreement stimulated research & innovation and UK have already doubled $4.8bn $4.9bn projects in areas including CO reduction in their MI relevant investments. 2 60% industry, increased flexibility of the electricity $3.4bn 58.4% China has had the largest absolute system, hydrogen and spatial integration of increase in clean innovation large-scale renewable energy production. $1.2bn 40.8% investment of reporting members. 14% MI and the International Energy CHINA Agency (IEA) have worked closely YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 1 YEAR 2 YEAR 3 YEAR 4 MI-related funding in China increased from together and with members 22 19 18 18 22 19 18 18 to enhance data collection on reporting reporting reporting reporting reporting reporting reporting reporting 25 bn RMB in 2015 to 38 bn RMB in 2019, members members members members members members members members with an increment of more than 52%. Over government spending for energy this time China’s Ministry of Science and RD&D building on the collaboration Technology (MOST) has launched new agreement signed in 2018. The research, development and demonstration IEA has worked with MI members programs in the areas of energy saving including Brazil, India and China MI members are investing across a range of technologies technology, new energy vehicles, smart grids, through the Clean Energy Transitions depending on national priorities. renewable energy, hydrogen energy and Programme to map, evaluate and clean and high efficiency utilization of coal. Since 2015, cumulative MI-relevant investments by reporting members have included: enhance the policy environment for The “Smart Grid and Equipment” Project energy technology innovation, and $10.2 billion $5.5 billion $2.2 billion supports 120 innovation projects, with total has brought together their innovation data and analysis in a central portal. on renewable energy on grid integration, on hydrogen and fuel cells public support of 1.5 billion RMB, whilst the including at least: transmission and “Renewable Energy and Hydrogen Energy In July 2020, the IEA released a storage technologies $1.1 billion Technology” Project is investing 0.5 billion flagship report on Clean Energy • $1.8bn on solar energy on buildings and appliances RMB in 31 innovation projects. CCS and Innovation, building on and feeding • $1.3bn on biofuels $1.4 billion $794 million cleaner fossil fuels accounted for about 40% into discussions for the scoping and of MI-related spend in China in 2019. • $1bn on wind energy on transport on carbon capture and storage development of a second phase of MI. 6 PROGRESS TOWARDS GOAL 2 EUROPEAN COMMISSION Since the creation of a new €100M public- Increased private private investment fund, Breakthrough Energy Ventures – Europe (BEV-E), in October 2018 sector engagement by the European Commission and the Bill Gates- INDIA led Breakthrough Energy, the investment team and investment The world’s firstClean Energy International has been established and is actively screening Mission Innovation (MI) members Incubation Centre (CEIIC) was launched by the and evaluating investment opportunities. are launching new initiatives and Indian Government and the Tata Trust in Delhi BEV-E will invest in technologies that can make investment funds in partnership in September 2019. It is providing $5 million in material greenhouse gas emissions reductions with the private sector to accelerate support to start-ups/innovators from across in five key areas that are essential to combat the commercialisation and MI members to test their technologies in the climate change: electricity, transportation, local market. To date CEIIC has incubated 18 scale-up of new technologies. agriculture, manufacturing, and buildings. Indian start-ups and 6 international start-ups. CANADA UK CHILE Canada launched Breakthrough Energy The UK has launched a new early stage Clean Chile is fully committed to reaching the goal Solutions Canada (BESC) in 2019 – a first Growth Fund. The government will invest up NORWAY of carbon neutrality by 2050, with a portfolio of its kind public-private initiative between to £20 million on commercial terms alongside Norway’s PILOT-E scheme provides a fast of actions that includes the phase out of Natural Resources Canada, Breakthrough £20m from CCLA, a private sector investor with track for companies to turn climate-friendly coal power plants by 2040, the deployment Energy, and the Business Development an environmental social governance agenda. concepts
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