Yahoo Finance Leaders line up to back plans to deliver clean, affordable technology worldwide
More than 40 world leaders have backed a plan to deliver clean, affordable technology around the world by 2030, the UK Government has said.
Countries including the US, EU, China, developing economies and some of those most vulnerable to climate change have signed up to the “breakthrough agenda”.
Modelled on the UK’s net-zero strategy, the initiative will see countries and businesses co-ordinate and strengthen climate action each year to scale and speed up the rollout of clean technologies and drive down costs this decade.
Prime Minister Boris Johnson is setting out the first five goals at the Cop26 summit, the “Glasgow breakthroughs” which focus on areas that cover more than 50% of global emissions, from clean cars to sustainable agriculture.
They include making clean power the most affordable and reliable option for all countries by 2030, and for zero-emissions vehicles to be the new normal in all regions.
They also aim to ensure near-zero emissions steel is the preferred choice in global markets, make sure renewable and low-carbon hydrogen is globally available, and to make climate-resilient, sustainable agriculture the most attractive and widely adopted option for farmers everywhere, all by 2030.
Mr Johnson said: “By making clean technology the most affordable, accessible and attractive choice, the default go-to in what are currently the most polluting sectors, we can cut emissions right around the world.
“The Glasgow breakthroughs will turbocharge this forward, so that, by 2030, clean technologies can be enjoyed everywhere, not only reducing emissions but also creating more jobs and greater prosperity.”
The UK Government said delivering the first five breakthroughs could create 20 million jobs globally and add more than 16 trillion US dollars across emerging and advanced economies.
Officials said the Glasgow breakthroughs will drive forward global progress to halving emissions by 2030, required to help limit temperatures rises to 1.5C, and support UK presidency aims to phase out coal and speed up the shift to electric vehicles.
World leaders, business leaders and philanthropists are expected to launch a series of new initiatives in support of the Glasgow breakthroughs.
They include the launch of the UK/India-led “green grids initiative” to mobilise access to clean energy, and 10 billion US dollars of funding from philanthropists and development banks to start a scheme to support energy access in poorer countries.
There is also a new initiative led by the US and UAE, with more than 30 supporting countries, committed to accelerating innovation in sustainable agriculture, which has already garnered 4 billion dollars in increased investment in climate-smart agriculture and food systems innovation.
And there is the “first movers coalition”, a US-led buyers club of 25 major global companies making purchasing commitments to help drive the commercialisation of clean technologies across sectors such as steel, haulage, shipping, aviation, aluminium, concrete, chemicals, and direct air capture.
