There’s no plan B because there’s no planet B, Ban Ki-moon says at CleanEquity Monaco.
Leaders from the private sector need to push governments to increase their actions on global climate issues.
EVERY MARCH, SOME 180 DELEGATES travel from 30 countries to discover some of the world’s most transformative tech at CleanEquity Monaco, a two-day invitation-only conference cofounded by Prince Albert and Mungo Park, Chairman of Innovator Capital.
This 12th edition packed a powerful punch with former Secretary-General of the United Nations, Ban Ki-moon, delivering the keynote address and participating in the opening plenary session “Sustainable Development Goals (SDGs): Matching and Scaling Technology Innovation.” “It’s a critical time for the sustainability of our planet. Future generations will judge us harshly,” remarked the 8th Secretary- General, who was the creator and active advocate of the United Nations 2030 Agenda and its 17 SDGs, which was adopted by 193 countries of the United Nations General Assembly on September 25, 2015.
“Every aspect of our lives depends on our oceans, which depens on our protection of them. Everybody bears a responsibility.”
“The presence of Secretary-General Ban Ki-moon is resonant with how the world is changing,” observed fellow panelist Kate Wolfenden, cofounder of Project X Global, a WWF founded corporate accelerator which helps organizations adopt sustainable innovations in their supply chains.
“Secretary-General Ban Ki-moon taking the time to join a private sector conference, to talk emotively about the urgent role of clean technology in helping the world achieve its sustainable development and climate goals, is an important example of how our once disparate worlds are colliding.”
Each year, 600 sustainable technologies are sourced and screened by CleanEquity Monaco, and this for this edition, “26 companies represented the leading edge of the sustainable technology spectrum.” Since the preeminent event for emerging technology launched in 2008, it has counted 2,000 attendees— corporate, professional and strategic family investors, academics, policy makers, diplomats and end users—and raised $1.7 billion (€1.41 billion) by attending companies.
According to Ban Ki-moon, we have swiftly progressing technological innovation, tumbling costs of clean energy around the world, and changing public attitudes. So why then are governments and corporations not taking the necessary action “to propel the usage, commercialization, and widespread dissemination” of many existing innovative technologies to fightagainst climate change?
For Wolfeden, the elephant in the room is not that there isn’t enough innovation in the world—“there is probably too much”— it’s just not scaling at the rate and pace we need it to.
“Similarly, it’s not that there isn’t enough money in the world to scale it, it’s that very often there is not enough of a risk- mitigated pipeline to invest in and/or the means to enable multiple stakeholders groups to agree on what most scalable and sustainable solutions are to focus on in order to leverage the right amount of funds from the best sources to get the scale and momentum we need. This is not only a business opportunity that needs converting, but a moral responsibility to act—with pace, with compassion and with focus.”
At the end of the 2018 conference, Prince Albert announced support for the Nobel Sustainability Trust’s (NST) new award and Innovator Capital’s global green investment bank initiative for sustainable technology companies which has since been named the Sustainable Finance & Investment Corporation (SFIC).
Fast forward one year to the closing ceremony of CleanEquity Monaco 2019, when Zhu Huiye committed, on behalf of the Investment Association of China (IAC), to a contribution of $1 billion USD, in equal tranches over the next 3 to 5 years, to SFIC’s structure and its global sustainable technology programs.
At the signing ceremony Zhu Huiye and Professor Nobel announced also that IAC would support NST’s Sustainability Award and Beijing would host one of the first three ceremonies. Mungo Park said, “I am heartened and happy about China’s demonstrable awareness of the need for innovation of technologies to achieve the UN SDGs and NDCs. The SFIC will provide all parties to the Paris Agreement with the vehicle they need to fulfill their obligations outlined in Article 10 of the COP21 Agreement.”
In his closing speech this year, Prince Albert said that: “We are all subject to the same risks. As long as each individual acts, our voices will be able to hold governments responsible for implementing positive, sustainable policies. United, we can make these positive consequences to sustainable development a reality.”
Prince Albert welcomes Ban Ki-moon, the eighth Secretary-General of the United Nations.
Prince Albert also presented the awards for Sustainable Technology Research: eggXYt; Development: Blixt Tech; and Commercialisation: SUN Mobility.
Monaco will host the 51th Session on the IPCC in September 2019. It will mark the publication of the crucial report into the Ocean and Cryosphere in a Changing Climate, thereby supporting SDG 14: Conserve and sustainably use the oceans, seas and marine resources for sustainable development.
At the closing of CleanEquity Monaco 2019, Kerry Adler, founder and president of Skypower Group, the world leader in solar power generation, signed an agreement with the Prince Albert II Foundation to support the foundation’s projects and initiatives for renewable energies and access to water.
Commitment: an initial $110 million/€100 million was made, 25% of which will pass to SFIC for investment in technology innovation to match with SDG and scale implementation.