Representing 92% of global GDP, over 90 countries around the world have now announced net zero targets. There are no single or simple solutions to putting the world on a path which limits temperature rises to 1.5C above pre-industrialised levels, a crucial target to avoiding a climate catastrophe. However, a sustainable, secure and more equitable future energy system with netzero emissions will be essential and this future energy system must be based on continuous innovation, not only of technologies but also innovation of business models, financing, policy and regulatory approaches. 

According to BloombergNEF New Energy Outlook 2023, the world needs to spend a total of $8.3 trillion on renewable energy deployment from 2023 - 2030 to align with a global net-zero trajectory by 2050. This unprecedented growth in renewables deployment requires innovative approaches to partnerships, business models and policies.

We have most of the technologies needed to meet our short and medium term energy targets, but deployment of these technologies at speed and scale calls for new types of clean energy policies
and regulations based on coordinated and forward looking approaches. It also requires new business models based on broader societal, environmental, economic and energy system value, as
well as new innovative approaches to financing. All of this will be facilitated by the next generation of ambitious multi-stakeholder collaborations.

During this session, panelists will discuss how to evolve the focus on innovation beyond technology and towards business models, policies and regulations and financing, to accelerate the deployment of renewables and reduce emissions. They will also explore how to build new partnerships to accelerate these new types of innovations.

Moderator: Albert Cheung, Deputy CEO, BloombergNEF

Participants:

• Tinne Van der Straeten, Minister of Energy, Belgium 
• Eamon Ryan, Minister for Environment, Climate & Communications & Transport, Ireland
• Alastair Phillips-Davies, CEO, SSE
• Claudio Facchin, CEO, Hitachi Energy