Energy Innovation Needs New Private-Sector Push

Two months after the end of the Paris climate summit, it seems natural to ask: What are the next steps? Do we need to do more?

Three initiatives launched around the Paris meeting are an important start. Bill Gates announced the formation of the Breakthrough Energy Coalition, composed of philanthropists who will invest in public-private partnerships to invent and scale technologies. More than 20 countries led by the U.S. unveiled "Mission Innovation" and pledged to seek to double their government research-and-development budgets over the next five years to accelerate clean-energy innovation. Ten of the world’s largest oil and gas companies launched the "Oil and Gas Climate Initiative" to organize meaningful action through the sharing of best-practice information and other industry collaboration as well as to make investments in R&D and startups.