Published: Wed, 25 May 2016
Seán Kelly MEP has endorsed a global initiative which aims to double government investment in clean energy innovation over the next five years, in hosting a European Parliament seminar on Mission Innovation in Brussels today (Wednesday).
MEP Kelly was joined by Sir David King, Special Representative for Climate Change to the UK Government and one of the architects of Mission Innovation – a multi-sector approach to accelerate public and private global clean energy innovation.
“Mission Innovation will double government investment in clean energy innovation among the signatory countries over the next five years. Governments will work closely with the private sector and increase investment.
“Importantly, five of the 20 countries who have committed to the Mission are the most populous nations – China, India, US, Indonesia and Brazil, accounting for 75 percent of global emissions from electricity and 80pc of global clean energy R&D investment.
“Although Ireland is not involved yet, Climate Change is very much a priority for the new Irish government, and I hope that in the coming years, we too will be in a position to double government investment on clean energy innovation,” the Ireland South MEP told attendees.
The energy sector is responsible for around two-thirds of global emissions. However, substantial financial resources will be required to bring about a change. Unlocking private investment is crucial in that regard, Mr Kelly said.
“At European Parliament level, it is important that we put in place the regulatory framework to ensure we achieve our clean energy goals, such as the new Electricity Market Design. Encouraging more private sector investment in clean energy technologies and enabling smart grids and metering, smart homes, self-generation and storage will all help us to meet our energy targets.”
Mr Kelly led Climate Change negotiations at COP21 in Paris last year on behalf of the European Parliament’s Energy Committee (ITRE).