{"id":507,"date":"2018-10-17T17:01:35","date_gmt":"2018-10-17T17:01:35","guid":{"rendered":"http:\/\/horizon.peachpuff-wolverine-566518.hostingersite.com\/?p=507"},"modified":"2018-10-17T17:01:35","modified_gmt":"2018-10-17T17:01:35","slug":"bill-gates-and-european-commission-launch-e100-million-clean-energy-fund","status":"publish","type":"post","link":"https:\/\/scienceblog.com\/horizon\/507\/bill-gates-and-european-commission-launch-e100-million-clean-energy-fund\/","title":{"rendered":"Bill Gates and European Commission launch \u20ac100 million clean energy fund"},"content":{"rendered":"<h3 class=\"dotted\"><strong>Bill Gates and the European Commission have launched a\u00a0<\/strong>\u20ac<strong>100 million investment fund designed to bring radical clean energy technologies more quickly to market in order to promote energy\u00a0efficiency and cut greenhouse gas emissions.<\/strong><\/h3>\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p class=\"selectionShareable\">Speaking at the launch in Brussels, Belgium, on 17 October, Gates said that science and innovation hold the key to tackling climate change.<\/p>\n<p class=\"selectionShareable\">\u2018My history at Microsoft made me an optimist, a believer in backing scientists to solve very tough problems,\u2019 he said. \u2018And here in Europe there\u2019s an incredible number of scientists who\u2019ve got good ideas.\u2019<\/p>\n<p class=\"selectionShareable\">The \u20ac100 million Breakthrough Energy Europe fund combines \u20ac50 million of public funding from the EU and \u20ac50 million in long-term risk capital from Breakthrough Energy Ventures, the Gates-led fund for energy startups. It will focus on technologies in the areas of electricity, transport, agriculture, manufacturing and buildings that reduce emissions by at least half a gigaton a year, as well as increase energy efficiency.<\/p>\n<p class=\"selectionShareable\">Carlos Moedas, the EU\u2019s Commissioner for Research, Science and Innovation, said: \u2018We are delivering on our commitment to stimulate public-private cooperation in financing clean energy innovation. Together, we are opening up a new way of working for the future, one that will really make a difference.\u2019<\/p>\n<p class=\"selectionShareable\">Europe\u2019s leadership in addressing the challenge of climate change is \u2018more important today than ever,\u2019 said Gates, who added that innovation was the answer to the question of how to double the amount of energy used over the next 50 years, while also getting emissions down to zero.<\/p>\n<p class=\"selectionShareable\">When the Breakthrough Energy Europe team is up and running in 2019, they will sit down with universities and institutions across the continent to identify which research is ready to be turned into products. The aim is to invest the \u20ac100 million over the next two years and then potentially scale up the fund if it is successful.<\/p>\n<div class=\"quote-view quotesBlock quote_horizontal\">\n<blockquote>\n<p class=\"selectionShareable\">&#8216;Together, we are opening up a new way of working for the future, one that will really make a difference.&#8217;<\/p>\n<p class=\"selectionShareable\">Carlos Moedas, European Commissioner for Research, Science and Innovation<\/p>\n<\/blockquote>\n<\/div>\n<p class=\"selectionShareable\"><strong>Hard-hitting<\/strong><\/p>\n<p class=\"selectionShareable\">The fund\u2019s launch comes in the wake of a hard-hitting\u00a0<a href=\"http:\/\/www.ipcc.ch\/report\/sr15\/\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a>\u00a0from the UN\u2019s International Panel on Climate Change which said that \u2018unprecedented\u2019 changes would be needed in all aspects of society to limit global warming to 1.5\u02daC above pre-industrial levels.<\/p>\n<p class=\"selectionShareable\">In particular, the report said this would mean \u2018rapid and far-reaching transitions in energy, land, urban and infrastructure (including transport and buildings), and industrial systems\u2019.<\/p>\n<p class=\"selectionShareable\">Maro\u0161 \u0160ef\u010dovi\u010d, the European Commission\u2019s Vice President for Energy Union, said: \u2018The IPCC (said) that every bit of warming matters and urgent action is needed to limit global temperature rise. Let\u2019s collectively act as clean energy innovation warriors to inspire others.\u2019<\/p>\n<p class=\"selectionShareable\">Scientists estimate that the world has already warmed by 1\u02daC since pre-industrial times as a result of human activities, and models show that, without action to cut emissions, global warming could exceed a\u00a0<a href=\"https:\/\/horizon-magazine.eu\/article\/world-track-catastrophic-warming-forecasters.html\" target=\"_blank\" rel=\"noopener noreferrer\">catastrophic 4\u02daC<\/a>\u00a0by the end of this century.<\/p>\n<p class=\"selectionShareable\">The fund forms part of the EU\u2019s commitment to reduce greenhouse gas emissions in the European Union by at least\u00a0<a href=\"https:\/\/ec.europa.eu\/energy\/en\/topics\/energy-strategy-and-energy-union\/2030-energy-strategy\" target=\"_blank\" rel=\"noopener noreferrer\">40% from 1990 levels by 2030<\/a>. The public-private financing model is a pilot project that could in the future be replicated in areas other than clean energy.<\/p>\n<p class=\"selectionShareable\">In 2015, representatives from 195 countries met in Paris, France, and signed a\u00a0<a href=\"https:\/\/ec.europa.eu\/clima\/policies\/international\/negotiations\/paris_en\" target=\"_blank\" rel=\"noopener noreferrer\">binding agreement<\/a>\u00a0to limit global warming to well below 2 \u02daC, and to aim for 1.5 \u02daC. World leaders are due to meet again in December in Katowice, Poland, to look at progress towards this goal.<\/p>\n<p class=\"selectionShareable\">The European Commission is also working on a proposal to decarbonise the European economy by 2050, which will be published in November and will feed into December\u2019s discussions in Poland.<\/p>\n<p><em>Originally published on <a href=\"https:\/\/horizon-magazine.eu\">Horizon<\/a>.\u00a0<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bill Gates and the European Commission have launched a\u00a0\u20ac100 million investment fund designed to bring radical clean energy technologies more quickly to market in order to promote energy\u00a0efficiency and cut greenhouse gas emissions. Speaking at the launch in Brussels, Belgium, on 17 October, Gates said that science and innovation hold the key to tackling climate &#8230; <a title=\"Bill Gates and European Commission launch \u20ac100 million clean energy fund\" class=\"read-more\" href=\"https:\/\/scienceblog.com\/horizon\/507\/bill-gates-and-european-commission-launch-e100-million-clean-energy-fund\/\" aria-label=\"Read more about Bill Gates and European Commission launch \u20ac100 million clean energy fund\">Read more<\/a><\/p>\n","protected":false},"author":309,"featured_media":508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[11,121],"tags":[212,126,40,4,25,79,24],"class_list":["post-507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earth-energy-environment","category-policy","tag-clean-energy","tag-climate-change","tag-energy","tag-environment","tag-innovation","tag-research","tag-science"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bill Gates and European Commission launch \u20ac100 million clean energy fund - Horizon Magazine Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceblog.com\/horizon\/507\/bill-gates-and-european-commission-launch-e100-million-clean-energy-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bill Gates and European Commission launch \u20ac100 million clean energy fund\" \/>\n<meta property=\"og:description\" content=\"Bill Gates and the European Commission have launched a\u00a0\u20ac100 million investment fund designed to bring radical clean energy technologies more quickly to market in order to promote energy\u00a0efficiency and cut greenhouse gas emissions. 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