Business & Philanthropy Climate Forum

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CLIMATE FINANCE

Climate and Nature Moonshots: Tackling critical challenges to mitigate climate change

Context and challenges

Innovation is essential to ensure inclusive climate action and protect against the effects of climate change.

Multiple challenges need to be addressed. For instance, ~50 developing countries – with a total population of ~2 Bn and CO2 emissions of ~4 Gtons – have an unclear path to energy transition and/or will be unable to finance their energy transition.

Meanwhile, a scenario of 2oC warming would lead to major negative impacts on biodiversity and communities alike.

Initiative Description

The Climate and Nature Moonshots initiative will fund new innovation projects to tackle critical challenges to mitigate climate change.

Examples of the challenges that will be launched, are:

  • XPRIZE Energizing the Future: Tasking innovators to create efficient, cost-effective and scalable solutions on storage, transport and utilization of renewable energy, to decarbonize heavy industries and transportation, supply clean fuels and electrify low-income communities. A goal of USD 100 Mn is set to enable the competition.
  • XPRIZE Coral Restoration Competition: Competitors have to restore the largest coral reef within two years, supported by island nations, foundations and innovators in coral restoration. A goal of USD 100 Mn is set to enable the competition

Commitments from Business & Philanthropy

XPRIZE – Energizing the Future

  • Become a competition sponsor
  • Support the challenge with relevant expertise, awareness building and / or resources
  • Build industry coalition to launch the competition

XPRIZE – Coral restoration

  • Become a competition sponsor
  • Build global awareness and encourage innovators to dedicate effort to the challenge
  • Enrich the network of Global South entities to support broader innovation in coral protection and restoration

How to get involved?

 

Source: Scientific American: What’s in a Half a Degree? 2 Very Different Future Climates (2018)

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