
This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.
Author: Douglas Broom, Senior Writer, Forum Agenda
This article was first published on 16 May 2023 and was updated on 21 September 2023.
- Progress on the global energy transition has seen only “marginal growth” in the past three years, according to a World Economic Forum report.
- Fast and effective renewable energy innovation is critical to meeting climate goals.
- Here are five solutions that could help countries meet emissions targets.
The need for renewable energy innovation has never been greater.
In its 2023 report, Fostering Effective Energy Transition, the World Economic Forum says that 95% of countries have improved their total Energy Transition Index score over the past decade, but there has been only “marginal growth” in the past three years.
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How is the World Economic Forum fighting the climate crisis?
The World Economic Forum’s Centre for Nature and Climate accelerates action on climate change and environmental sustainability, food systems, the circular economy and value chains, and the future of international development.
- Through the Global Plastic Action Partnership, the Forum is bringing together government, business and civil society to shape a more sustainable world by eradicating plastic pollution.
- Global companies are collaborating through the Forum’s 1t.org initiative to support 1 trillion trees by 2030, with over 30 companies having already committed to conserve, restore and grow more than 3.6 billion trees in over 60 countries.
- Through a partnership with the US Special Presidential Envoy for Climate John Kerry and over 50 global businesses, the Forum is encouraging companies to join the First Movers Coalition and invest in innovative green technologies to enable net-zero emissions by 2050.
- The Forum is bringing global leaders together to reduce the environmental impact of value chains and make the $4.5 trillion circular economy opportunity a reality. The African Circular Economy Alliance is funding circular economy entrepreneurs and circular economy activities in Rwanda, Nigeria and South Africa, while the Circular Electronics in China project is helping companies reduce and recycle 50% of e-waste by 2025.
- Since launching in 2020, the Forum’s open innovation platform UpLink has welcomed over 40,000 users who are working on more than 30 challenges crowdsourcing solutions to the climate crisis.
- More than 1000 partners from the private sector, government and civil society are working together through the 2030 Water Resources Group to ensure availability and sustainable management of water and sanitation for all by 2030. The group has facilitated close to $1 billion of financing for water-related programmes.
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Greenhouse gas emissions need to be almost halved by 2030 if warming is to be limited to 1.5°C, warns the Intergovernmental Panel on Climate Change in its Sixth Assessment Report.
So, it’s encouraging that innovators continue to pioneer fresh approaches that are making the goal of switching the world to renewable energy more achievable. Here are five such energy innovations.
Solar and wind power working together
It’s tempting to think that renewable energy installations need to be either solar or wind powered. But French start-up Unéole has come up with a small-scale, easy to install solution that uses sun and wind power in a single unit.
Designed to be used on the flat roofs of offices and apartment buildings, the platform uses multiple wind turbines under a photovoltaic roof to create a silent solution that produces 40% more energy than a pure solar system and can generate power round the clock.
These turbines never turn
Wind power doesn’t have to mean huge turbines. A US start-up has invented a system that uses three-metre tall wind generators with no external moving parts. Sitting on the edge of roofs, Aeromine uses the natural airflow up the front of the building to generate power.
The system’s aerodynamic fins guide fast-rising air past an internal turbine, which the company claims produces 50% more power than other sustainable options. Combined with rooftop solar and battery storage, it can meet 100% of a building’s needs, the company says.
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