Leaders of several countries have collaborated over the launch of ‘Mission Innovation’, an initiative to support the clean energy movement around the world. A total of 20 countries have joined hands to propel the initiative.
Here are a few points you must know:
1. The initiative was launched at the United Nations Climate Change Conference 2015 (COP21) in Paris-Le Bourget, France.
2. Under the initiative, all the participating countries are required to double their budget to attain clean energy research and development by 2020.
3. The initiative comes following Bill Gates led Breakthrough Energy Coalition that includes 28 powerful individuals from across the world. They will collaborate and invest in energy solutions. Ratan Tata and Mukesh Ambani are included in the list.
4. The Mission Innovation initiative includes international organisations and research centres who will cooperate to help governments, private investors and technology innovators to take part in the renewable energy industry.
5. The collaboration will work on data exchange, technology expertise and analysis to promote commercialisation and distribution of clean energy solutions
6. The participating countries are Australia, Brazil, Canada, Chile, China, Denmark, France, Germany, India, Indonesia, Italy, Japan, Mexico, Norway, Saudi Arabia, South Korea, Sweden, United Arab Emirates, United Kingdom and USA.
7. The Mission Innovation initiative will also help to reduce production cost for energy, as renewable energy takes much less investment and maintenance than the thermal and hydropower projects.