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My message to the world at COP26

Howdy from Glasgow, Scotland. I’m right here to attend the COP26 local weather convention, and it’s been a whirlwind couple of days to date. As I wrote within the Financial Times, considered one of my prime priorities right here at COP is ensuring that the world prioritizes scaling clear expertise innovation. If we’re going to keep away from the worst results of a local weather catastrophe, it’s not sufficient to invent zero-carbon options—we want to ensure they’re inexpensive and accessible sufficient for folks everywhere in the world to make use of them.

I’m additionally spending numerous time this week speaking about local weather adaptation. It’s deeply unfair that the world’s poorest folks, who contribute the least to local weather change, will endure from its results essentially the most. Wealthy and middle-income nations are inflicting the overwhelming majority of local weather change, and we must be those to step up and make investments extra in adaptation.

Earlier at present, I had the chance to deal with COP26 delegates on the World Leaders Summit. The session was all about accelerating clear power innovation and deployment, and I used to be honored to share the stage with leaders from throughout authorities, the non-public sector, and philanthropy. You possibly can learn the total textual content of my remarks beneath.

Remarks as ready
November 2, 2021
COP26 World Leaders Summit

I’m honored to share this stage with Prime Minister Johnson, President Biden, and different distinguished leaders.

Six years in the past in Paris, I joined lots of you to announce historic commitments to growing the applied sciences we have to cease local weather change. Right this moment, I’m thrilled to report that effort goes properly.

I began Breakthrough Vitality Ventures to enrich the dedication from 22 nations to extend R&D via Mission Innovation. BEV has raised over $2 billion to date and invested in additional than 80 corporations from 11 nations throughout 4 continents.

This progress has been extremely thrilling. It’s given me the boldness to increase the work Breakthrough Vitality is doing, particularly within the space of expertise deployment.

If we’re going to scale the improvements that get us to zero, we have to scale back the fee distinction between issues that emit and issues that don’t—a distinction I name the Inexperienced Premium. The price of the transition have to be low sufficient that the entire world can afford it.

To assist make this occur, Breakthrough Vitality not too long ago introduced the creation of Catalyst.

Catalyst is a first-of-its-kind effort to construct the large initiatives we have to decrease Inexperienced Premiums and increase the marketplace for important local weather applied sciences.

Along with the unbelievable companions listed here, Catalyst will do 4 issues.

One: Harness technical experience to scale the improvements we want.

Two: Join authorities assets with enterprise experience.

Three: Arrange philanthropic grants and fairness with a low expectation of return to be the last-mile financing.

4: Create certainty for traders by guaranteeing that initiatives can have prospects.

Our non-public sector companions have dedicated over $1.5 billion that we anticipate will leverage greater than 10 instances that a lot in whole private and non-private financing. This can help initiatives in four areas.

And we’re simply getting began. We anticipate to lift $3 billion in non-public capital with the identical multiplier. 

However even when the world hits its aim of net-zero by 2050, our work won’t be full. Persons are already being affected by a hotter planet. These impacts will solely worsen, particularly for the world’s poorest.

We’ll lose the worldwide combat in opposition to poverty if we don’t assist susceptible farmers adapt to local weather change—which is why the Gates Basis is proud to be a accomplice within the Agriculture Innovation Mission for Local weather.

This new coalition was launched by the US and United Arab Emirates and now has greater than 30 member nations.

As a part of our work with AIM4C, I’m asserting at present that the inspiration will present an extra $315 million over the subsequent three years to a tremendous group referred to as CGIAR.

CGIAR helps climate-smart agricultural analysis to assist smallholder farmers within the growing world.

All of us right here at present have the duty and alternative to assist ship the options our world wants.

Collectively, we should construct a inexperienced industrial revolution—one which stops local weather change, protects susceptible communities, and places the world on a path to progress.

Thanks.

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