 Welcome back everybody. My name is Akshad Ratia. I'm a senior reporter for Bloomberg Green and I've been your moderator for the day. This is the last session. As I started the goal of this forum has been to collect thoughts and send it to the ministers who will be meeting tomorrow and there have been some spicy discussions, some sparkly thoughts and many of you went in to breakout forums talking about different initiatives around heat, around scaling demonstration units. This session we'll have remarks from some of the ministers. We'll have a summary of the day from Amanda Wilson looking at if you weren't there in one of the other sessions you'll get to feel for what happened in the other breakout room and then we'll have a speech from Timur Gul of the IEA but it is my great pleasure to start the proceedings by inviting Minister Eamon Ryan of Ireland the Minister for Environment Climate Communication and Transport the floor is yours. Thank you very much indeed and I'm very honored and glad just to share a few thoughts before we get into this meeting again. Can I just say first of all my sense and I've just been wandering around the various halls here a bit like a first-year student in university just listening to different inputs is that the process of having so even the nameplates here is very useful having mixed we're used to our country nameplates but having industry here and academia and that sharing of knowledge and that opportunity to listen to each other in my sense it works I don't know and it's hard to judge it won't be we get a better sense but I I think it's been very very useful and very informative. I'm wondering just kind of if I can pick a couple of things that I just heard completely random I suppose in the wandering around this morning sharing a few just what I thought heard that jumped out to me and I must admit there was some crossover because we also had the high-level dialogues organized by the countries which may not have been part of this innovation stream but you'll excuse the the boundaries and I just maybe just focus a couple of thoughts on the issue about what type of innovation or how do we when we're looking at this issue of innovation. Andrew Wilson was it from the International Business Chamber in earlier session made the point in the fact about financial innovation that we need innovation I think he was saying in the Basel 3 and in the the various international financial architecture innovation so that we we get the scale of financing we need and governments able to be able to make supportive investments and I just I he also made a point that similar to the one John Pershing mentioned this room here I heard earlier and I've always come back to this one because it's very close to my own heart. John Pershing was citing the example that the excellent work the US government does in research support RPE and all the examples we could give down over the years needs to now extend and change so that we're sharing innovation with developing and emerging countries and Andrew Wilson making that same point from the industrial commercial sector it's another innovation maybe that's a political innovation as much as anything else in how we we promote and see cooperation. I was very John his badges here but it's not here John O'Donnell I have a game I played these are various events when I look at the Irish names and thinking where's John O'Donnell from if California in this case but still one of ours I'd say by the look of them when you see him when he comes in he made a point about the need for policy innovation it was really interesting his point was really important that actually do you know what things are happening faster than we thought that the availability of low-cost renewables is really dramatically ramping up in a way that no one expected and that's before we know polysilica production is going to triple in the next three years so it we're only warming up but he made the barriers now John how are you you see what I mean Irish tooth and claw but the point you're making the room opposite John earlier on and not a glamorous room for politicians to be industrial heat isn't exactly where you get the front page it kind of break the break the the media but what you said about what we need to think what's useful at this setting where we come together is we have a responsibility in the political side to think how did you put it there that the policy reform in terms even the rules around access to electricity are the various obstacles in the deployment of electricity needs to change to unlock the potential I think that was that's an example I would call a policy innovation that we it's not all about I mean the technology we heard earlier on about low carb or low heat cement I'd love to find out see that working but it isn't all about technology it's also about all the various process and policy innovation that we need lastly I speak again from side terribly local and go back to where's Margie McCarthy there she is from the Sustainable Energy Authority of Ireland just whispered to me on as a side in one of the earlier meetings it all it's also all about behavioral innovation it's about how do we put the human being at the center of this and I think that's something it's a sociology innovation we need I responded to Margie there was a fantastic event the best thing I've ever been at I think was in Kyoto the Japanese government organized science and technology in society and it still goes on each year it'll be in October this year it's the most incredible event you have to practically have a Nobel Prize to get in I got an exemption it was all the topics all the top scientists and it was interesting they and it's all about technology and social technology and innovation and what did the physicists what were they concerned about what were the technologies concerned about ethics values philosophy trust is is what they put as the key things we need to get right if if this innovation this leap we need to make us to take hold which goes back to what Margie was saying to me it is about it's it's about some human values at the center of how we do all this the why we're doing it the how we do it justly is as important as the ch4s and the gigawatts and the megawatts and Hertz whatnot there's a few short reflections from a very selective irish picking people for the last few hours well thank you very much i feel like it's it's true it's very important to recognize the human in the technology we talk a lot about the innovation today but without us humans working together it won't happen it's my great pleasure to have kiyoto suji the state minister for foreign affairs for japan the floor is yours here you go yeah thank you akasha for your moderation and thank you ie for convening this and like my irish colleague i was storing around the pathway like a college freshman and looking in the in this room and i see relevant parties from the public sector finance corporate research and startups and this is exactly what we requested last year at the herosima summit in the g7 leaders meeting and the clean energy economy action plan issued at the summit and the leaders underlined the important role of startups and small and medium enterprises to contribute to innovation and technology for net zero so we really are happy that i'm i'm pleased to witness this very successful convening this forum and i'm gonna make my remarks short and sweet and of course you know this meeting might not make the front page news but i am sure that that we are on the right page of history when we're talking about this and i can't emphasize how important this meeting is and we are in the midst of a historic energy transition period ladies and gentlemen and we continue to face geopolitical risks and i'm not mean to mention russia and ukraine and the middle east and we're at the same time facing immediate need to take actions against the climate crises and i want to emphasize that japan is um trying to take the leave and in achieving the common goal of net zero by 2050 through various pathways and um that are compatible with economic growth and energy security and this is going to be tough but we're going to it'll require clean technology and sustainable solutions and especially renewable energy technologies and energy efficiency it should become affordable accessible and attractive options and um of course um with all these actors in the room i believe that it's necessary to promote research and development innovation and utilization of a broad range of clean energy technologies and japan of course among these actors will make the effort to bring up bring governments industry startups research institutions and investors and together and we all have the roles in the collaboration and today's forum this forum brought together these representatives from all the relative relevant sectors and i thank all of you for contributing to a very fruitful discussion with your insights and respective perspectives and um i think it's very very important for this kind of dialogue among relevant parties continuing deep in and i hope that the ia will provide such opportunities and i promise that japan will always show the flag thank you thank you um next can i i invite david turk who's the usd usd secretary of energy thanks uh thanks very much and i could do two things here um i could read the speech which is a good speech but i'd rather just share some uh to our two speakers share some insights and some of the key takeaways and hopefully this will be helpful in man days you give a more fulsome takeaway from all the various sessions i assume people would want to hear the latter if anybody wants the speech that was written happy to share that as well before getting into my kind of four key takeaways though i'd love to ask everybody to give a round of applause to our ia colleagues and all the organizers of this session in the day for anyone who's ever organized something especially something new like this it takes an awful lot of effort and i know there's a ton of folks who've been involved in this so thank you for all the time and bringing us all together as the ia does so well and bringing us all together all right so the four key takeaways and some of these will find some familiarity with the two previous speakers uh one is it is important to recognize innovation in all its forms and really to focus on innovation in a variety of the different buckets uh it was incredibly exciting it always is for me i'm a bit of a technology nerd i suspect many of us are just to hear what some of the entrepreneurs are working on some of the key technological breakthroughs as well but that's just one part of the equation that is good it's necessary but it's not enough we've got to have innovation throughout certainly in the private sector and investment as minister ryan was speaking about but we also have to have policy innovation and one theme that came up again and again and i hear this a lot with entrepreneurs and others as we're doing our various programs is permitting innovation and making sure that we are lowering the barriers to whether it's the demonstration side of the scale side how do we accelerate reduced timelines throughout the space and i think that's incredibly important uh i don't think we spend enough time i know we don't spend enough time at our department of energy in our national laboratories on the social science piece and really thinking of the innovation of human behavior and how all this fits together not just human behavior for those technologies that are more consumer facing but uh it has to work for the businesses the incumbents the other parts of the system as well and thinking about the human piece of it uh incredibly important throughout and as minister said minister ryan if it doesn't work for people and it's not people centered then that's not what we should be aiming at everything should be working for the betterment of our fellow citizens around the world so that's that's the one piece secondly is really thinking about the full innovation cycle uh there was a particular session focused on demonstration the demonstration phase and i it doesn't feel like there's enough focus on that around the world as there needs to be if we get a bunch of things even to a pilot phase and it's quite promising but we can't go from that pilot to the scale up and i know there's a number i know lia and a number of colleagues are in that particular phase right now we just have to have a range of policy interventions cost share programs other kinds of things we've got a big effort on that billions of dollars going for a variety of that cost share up to 50 percent there's other ways to get at that as well but it just feels like that is such an important area and if we really want to be serious about the scale and the pace we need to really hitting that demonstration phase directly head on a number of the governments involved in the i e a also the clean energy ministerial and mission innovation uh all came together a couple years ago in pittsburgh and said if we pool all our funding together what is the scale of funding we can bring to the demonstration i think the number was about 92 billion dollars i think the i a is keeping track of where we're at on the progress as the i a does on that front but it feels like there's a lot more that can be done there uh it came up but maybe not as much as i expected it to come up at least in the sessions i was and that was artificial intelligence and machine learning and really using some of our higher tech tools the compute power to help the innovation cycle to shrink it down it may work better in some segments in some areas as than others but again taking full advantage of that throughout the innovation cycle the third piece and this is why i think it's so exciting to be here at the i a with the technology collaboration programs the 39 of the tcps for those who are involved in those the third piece and lesson learned is connecting the dots we don't have time to wait we need to connect those dots we need to have frank conversations we need to have direct conversations with each other as a country that's now very lucky to have a whole range of tools in our tool belt we need to connect the dots and we need to be a better partner connecting those dots and accelerating those dots and so there's no way we're going to be successful without entrepreneurs without others who are providing feedback telling us when we're doing something great but even better telling us when we're doing something that's not going to connect the dots and the way it needs to be connected so that's a a third piece and then the last one because we have such a challenge in front of us we really need to learn from each other in real time or even quicker than real time if that's possible and track progress where there is progress and learn when we are falling short Timor and I were talking yesterday one of the projects that I worked on and Timor spent a lot of time on this is the tracking clean energy progress that the IEA does every year looking sector by sector technology technology which are at a pace and scale that they need to be in order to get us all to where we've agreed to go and that is net zero by mid-century that is an incredibly challenging trajectory to do that across the board not just electricity but transportation and industry and you name it buildings etc etc the last year analysis showed that out of 50 different sectors and technologies only three of those were on target now the three that are on target are pretty impressive we've seen phenomenal growth and solar pv we've seen evs taking off around the world including increasingly in the u.s we've seen lighting make terrific progress around the world but we need that across the board and so I raise that not as a downer that there's 47 areas where we're not making progress but more as a thanks for everyone in this room whether you're from industry whether from government whether you're from the IEA whether you're from investment firms thank you for making your career choices to be part of this innovation friendship this innovation community so that we can all connect the dots drive each other to make sure that we're living up to the moment that we're all living in so thank you thank you all for your parts thanks everybody that's it thank you now shortly we'll hear from amanda but I wanted to take a moment to express that immediately after that we're going to bring you guys back into the discussion the goal over the next hour that's left is to get your view on what the IEA must do next to advanced energy energy innovation around the world and how to increase cooperation between countries if you can keep your because we are going to have a lot of people wanting to say things and that's good we want as many of you to say what you want to but let's keep that brief and with that let me introduce amanda wilson who's the director general of the office of energy research and development at the national resources canada and also the chair of the IEA committee on energy research and technology wonderful thanks very much and hi everyone lovely to see you all here and thanks so much for your participation throughout the day i have the enviable or also an enviable task of trying to summarize all of the fantastic discussions that happened throughout this morning and this afternoon into a few key bullets my friends at the IEA secretariat have helped me with this my goal here will be to give you the the most salient nuggets so that we can leave time for the roundtable and for teamer as well so why don't we jump right in so this morning there were three sessions that many of you participated in in the session focused on 50 years of learning key takeaways are that essentially there has just been an enormous transformation in terms of the technology portfolio that we are all dealing with and low carbon technologies as the executive director said this morning are unstoppable governments have been central to this work but more work is needed in this space energy innovation policy as we've heard a few times here is absolutely critical to the work that's happening technology development is obviously at core and important but it can't be done in a vacuum energy innovation policy is important it's evolving and it's evolving rapidly so there's work to be done in terms of things that we've heard about standards bank guarantees social license all of these things are increasingly important and we need to look at all of them as we move forward in the next session on technology priorities we heard about a really wide range of technologies that are important which I think underscores the importance of moving forward many of these things at the same time it's not an either or choice in in many cases so we heard a lot about mass produced products and software we heard a lot about large-scale processes like industrial decarbonization CC us and so on and there was a lot of talk of emerging economies then focusing in on the institutional landscape a key takeaway is that the IEA really is well situated to convene actors across across all of the spaces that are important in terms of having this discussion so where there are shared objectives there is work that we can do together and I think that this forum today has been a really fantastic example of that there are a number of international initiatives and there are sort of different purposes and different roles for each of them but I think there is a lot of a lot of good that can come from governments engaging in those initiatives and figuring out how they can work together more cooperatively and then building on existing structures so in which ways can the IEA help build on things that already exist to further accelerate and advance this work moving on to the next slide where I will attempt to summarize the three different breakout sessions that happened concurrently this afternoon in the session on emerging market and developing economies there were three key takeaways so clean energy technology can be a cornerstone of industrial development there was a lot of discussion around the need for focused attention on ecosystem approaches so including aligning things like financial incentives with climate and innovation and then there was a discussion around whether or not you know this whole notion of leapfrogging is it possible how can it happen and so on in the session on industrial heat a few key takeaways one is that there are a lot of ideas out there and as we've heard in so many other spaces policies are important in order to accelerate the development and the deployment of these technologies there are certain foundational needs in order to see the benefits in this space and then finally there are just many many opportunities for collaboration whether that's between countries whether that's between companies whether that's between sectors and so on and then finally in the session on demonstration projects and how they can be successful Dave did a really nice job of summarizing some of those key points I will just add that there was a lot of discussion around demand so the need for there to be a clear market in order to attract investment so whether that is there was discussion of the various roles let's say that government can play in inducing that demand there was also discussion of the need for clear regulations and permitting processes and this led to people to touch on the role that the IEA could have in this space so I think I will leave it there certainly lots to think about and I will hand it back to you. Thank you very much that is a herculean task we spoke for hours and to put it on two slides is not easy well we should all give IEA some more work and speak for the next hour and add to that slide and and give more thoughts now the prompt here is what would you like the IEA to do over the next year ideally to try and accelerate energy innovation the format is if you would like to speak if you're on the table please use your name card and put it vertical and I will come around to asking for your contribution if you're in the audience there are roving mics I'm gonna keep looking around for anybody who raises hands and get those mics to you or the people who are there with the roving mics can come to you and point me to your contribution so I already see there are a couple of those raised over there professor from ITDLE do you want to take the floor. Thank you for that and I'm gonna keep it brief exactly as you said I think there are maybe three things that IEA could do that would be particularly helpful in next year and the years to come I think one is already a point that I'd made earlier but I want to re-emphasize that that IEA could very well play a key role in helping outline what is the innovation agenda for energy access because there is an innovation agenda Fathi I and some other colleagues had actually put together a piece that proposed a mission energy access that thinks about this in a more systemic way including innovation and I think that really is something that IEA could drive very well as the entity that thinks more about energy innovation than anybody else in the world in that in that way so I think that's one the second one is that IEA I think could build on its traditional big picture perspective on the global clean energy transition and I think this point that's been made in many conversations today is help broaden the notion of what a clean energy innovator is and it's the point that was made in the previous session in the in the emerging economies room we normally think of clean energy innovators as only being tech folks but I think the point that's being made is you are talking about policy innovation business model innovation financial innovation knowledge network innovation and I think the IEA could very well think about this take on this challenge and really kind of spell this out you know for example people talked about policy innovation how does one get policy innovation systematically Evelyn Wong had talked about the idea of technology white spaces I think the IEA could take on a parallel conversation about understanding what are the capacity white spaces first advancing the global clean energy transition and the last piece is I think the IEA could play very important role in supporting you know energy innovation for and in developing and emerging economies I think it can play a role both in taking a global perspective and understanding what is the role of international cooperation to strengthen energy innovation developing countries and emerging economies but also work with country governments in those countries and provide them insights on how they themselves could strengthen their energy innovation systems thank you general Atlantic thank you Rhea Hamilton from from general Atlantic just this background we're a significant private equity fund and we have about three and a half billion dedicated to to specifically climate being in this industry for over 20 years some some lessons learned here really about how to scale companies which ultimately I think was a big conversation of discussion here maybe two things just on that around scaling companies one is really about getting the business model correct and thinking about new business models and how we're scaling whether that is thinking about licensing versus building your first plan or is that your go-to-market strategy it's your location strategy I think we have to do things differently going forward so the more innovation we can have around business models that's going to help us scale the second thing is is that we are moving from molecules to electrons so think about we are in a digital transformation we're in a digital revolution here so how do we use all that data I know AI was a big focus maybe in some of the discussions today on Davos it was obviously a big discussion but I think it's a real opportunity for us now to use that data to help measure our progress so putting that to the case of what you know IEA can do going forward maybe a couple areas one is is really around sharing the data I heard earlier today that that's already being done so I think to lean in further about how we share the data and as as these industries mature we can put benchmarks in place I think that will help people know where they stand relative to best in class and how we can improve using that data so I think there's continued opportunity to to to move that forward the second one is is around the business models and maybe it's an educative role that IEA is doing today that can lean in further and that is when we think about the systems that or the problems that we're solving their system problems right it's always a chicken and egg you know if we don't have the supply we don't have the demand we have to bring it together and I think the more visionary can be on how we're solving these problems and how we can bring the partnerships together will be really important I think I can have a strong role in providing education back to the markets so the technologies can partner up you know with the right suppliers with the right government policies so we'd love to see more lean in in those two respects thank you thank you next year Andrew Forrest you've asked a tremendous question how can you advance this cause help us to answer the critical question which we must to our stakeholders whether or not you're elected in some form or another as chief executive chairman or politician but that question is when are you going to stop polluting the planet when are you going to stop burning fossil fuel and I think it's an incredibly important question I'd love the IEA to advocate that question widely and when I hear CCS carbon sequestration is a method of continuing fossil fuel production what I'm reminded of is the whistle being blown in a game long after the victories already been declared i.e. victories declared before the games even started CCS really as a reliable method we're going to put the world's future on is a failure it's a technology failure it's an engineering failure it's a cost failure where it works in exceptions does not statistically make it true it still makes it falsehood so I just wanted to put that squarely on the table and say the other elephant I'd like to address in the room is carbon tax now I understand I'm a heavy industrialist I burn around a billion litres of diesel a year that carbon taxes are a big issue and and politically tough however why not consider a carbon tax on an industry which is so which is very hard to obey let's put shipping in there I ship around 200 million tons of products around the world every year I'm part of an industry which ships over a billion tons of products around the world these are long distance sales iron ore and I'm aware that green ammonia which is a vector for green hydrogen and that's not to be conferred with burnt fossil fuel attempting carbon sequestration and calling it green that's not green that's just fossil fuel hydrogen but where you can mass produce a fuel like green ammonia which we're proving you can do where it can actually go into ships and provide reliable long-term shipping which we've also proven we can do we sail the green pioneer a green ammonia ship into cop 28 Dubai we had difficulties getting it in because there's license issues with a pollution free fuel let's advocate for a industry carbon tax now it won't take much to get the shipping industry to match up between green ammonia or bunkers the oil or diesel to be able to push the shipping industry within a decade or so to be entirely green and I'm not advocating this as an outside observer saying tut tut this is what you all should all do I'm advocating this as someone who will be directly impacted by it who knows that we cannot afford to keep doing what we're doing and that the IEA has this incredible opportunity nay I must say responsibility to advocate when the industry solution emerges for a hard-to-abate sector like shipping to advocate for carbon tax on that industry to help lead the world out of the clear and obvious scientifically measured demise we're currently heading in if we don't stop burning fossil fuel thank you thank you for that intervention there's one from the UNFCCC thank you thank you so much and good afternoon to you all if there is one recommendation I could share in this room this is about the inner development we need to have a inner development goal set and implemented if you want to address the sustainable development goal we need to develop internally for outer action and I would recommend to articulate value around tricky element caring sharing and daring caring because if we want to address the global challenge such as climate and sustainability we need to genuinely care for the well-being of the many people and the planet it means that we need to go beyond developing innovative solution for sectors and think about innovative solutions that can help satisfy the core human needs of the many people but doing it in a way that is aligned with the climate and sustainability goal this is what will make mitigation attractive to the global south and this is what will enable the global south to leapfrog and the good news is that if we are doing that we go beyond incremental innovation because at the sectoral level the only thing that we will be doing is keep keeping the same product and acting on their negative externality this is good this has to be done but it will not be enough if you really would like to tap on the most transformative type of climate and sustainability solution we need to go back to the core human need and explore how innovation can help satisfy them in a way that is aligned with the climate and sustainability goal the second sharing if we want to address the climate and sustainability goal radical collaboration is needed so it was said several time it's not just about technology innovation it's also about policy innovation innovative business model innovative financial instruments innovative product from the culture and creative industry this require radical collaboration sharing of knowledge sharing of experience and sharing of data this is why we are strongly promoting open science we need to stop hiding knowledge behind paywall daring one of the main reason why we are facing a lot of challenge with climate and sustainability innovation is because most of the time when we are setting the goal climate and sustainability goal we set them not based on what is needed but based on our perception of what is possible and this actually lock us in a vicious circle because i have heard several times CEO of company saying that i cannot set a bold goal because i do not have the solution and i want to be credible if my board of director ask me how will you go about your goal i would like to be able to articulate here are the solution i will use but the problem is at the same time if you ask those that are developing solution why don't you develop transformative solutions they will respond because there is no demand and we are locked we are locked in a in a vicious circle so we need to break this vicious circle by having a more moonshot way of thinking by setting climate and sustainability goal not on the basis of what is apparently possible but on the basis of what is needed and the gap between what is needed and what is possible will be the key driver for innovation thank you can i bring in netherlands next thank you very much and thank you for this this great day and great organization i think the the question was what can the ia do to to do even more and when i was thinking about that it's almost like the ia has a sort of a royal row and they can only do three things which is listen warn and advise and listen i think it's really translated in the ia as as having an analytical power which is second to none of what is happening all over the world and that listening that being really informed has a huge impact on the on the choices that are made now the second thing is advising i think is the the the key role of the ia in in really providing a credible avenue to a clean energy world is is so extremely powerful and that is of course backed up with the analysis i just mentioned but also with the huge breath of skill which is available at the the secretary and also the convening power the ability to draw that out of all the the knowledge which is available and the final thing is warning and you know almost linking to what what davis saying there is the um tracking clean energy brokers where you really look how are we doing compared to where we should go and and a warning is not an empty thing like you know we're not doing well but it's really indicating what should happen to get on track and therefore the advice it's not so much the advice of the ia it is the advice to all the member countries to keep positioning and and supporting the ia in those critical functions and that means something for funding it means something for following up the advisors and the and the warnings which which have come out from there so it's it's arguably not even a recommendation to the ia to do things different but it's a recommendation arguably to us all to to keep it in the position it has it has been placed and has worked towards over the over the decades really and then the last thing which i also would like to underline it it it again strengthens what is already there it was just mentioned in passing the technology collaboration programs which are such a fantastic vehicle to to exchange views and insights and there again it is not so much the ia which has to do more it is once again the member countries to step in these collaborative programs give them the support they need and in that way the ia can continue its role so it's maybe not what should the ia do differently or what should the ia do even more it is how can governments keep the ia in that position and how can we use what comes out of it thank you very much well thank you for that contribution i think you've given the ia a new motto for the 50th anniversary listen one advice Julia from breakthrough thank you so much first of all again well done to the ia for organizing such such an event certainly team where you and i have been speaking a lot about the role of innovation and i'm so pleased about everything that you've been and the team been able to to highlight today someone told me yesterday to respond to the scale of the challenge you need to rise to the challenge of scale and i think that's very important in terms of all of the work that the ia is doing and also also based on what we've we've been hearing on on the journey of a lot of these innovators and innovation and how also nonetheless they are challenged to scale you know the ia has been talking about moving from 50 percent of the technologies we need are not yet commercially available now down to 35 percent but when we start looking at projects that actually have shovels in the ground if you just look at hydrogen it's only seven percent of the announced projects have reached final investment decisions so my encouragement is really for the ia to double down on what will it take to actually get that tipping point we're certainly at the brink of a clean energy revolution as secretary carry was was saying this morning but we really need to accelerate we need to scale and that means thinking about de-risking models that means thinking about new types of public private partnerships but it also will have a major impact in terms of bringing down what we call the green premiums and making sure that the technologies are available the last thing i'll also say in terms of as we're creating the markets being able to make sure that these markets are bigger and making sure again that we build on what the ia is doing around common standards common methodologies so that we're not just looking at europe or the us but or other countries but we're really building up these markets so that they go from a niche to actually global markets for these new technologies so thank you again next can i bring in the EU please thank you very much and also from my side huge thanks to the ia team and team or and all others for organizing this first innovation forum i hope it's not the last one i think it has been a great day today and very interesting voices so as we are transitioning to clean energy globally i think we need to become more decarbonized decentralized electrified and we're just heard also we need to more de-wisking in our innovation policies and in the EU we are focusing a lot on renewables and energy efficiency but not only also other locum solutions but when i look ahead and what needs to be done is that we have a system which needs more flexibility flexibility between supply and demand and system solution so we would propose as three areas to work first of all storage i think storage and all kind of storages not only batteries but really storage in in a system view i think this is something where we need more innovation and more focus on secondly all kind of digital solutions we already heard also from Dave artificial intelligence it was also in the workshop and make that link between artificial intelligence how we can use it in the energy sector there are multiple examples already maintenance of wind turbines and others but just to dig into a little bit more in in that question and third and that's probably by i was in the second break through a group breakout group and that's about how to innovate more in the hard to abate sectors so we heard a lot about these technology hydrogen is obviously one clean hydrogen of course but also maybe other forms so these are the areas and also i think ii is the best place for international collaboration but also we need what we heard sectoral collaboration between the sectors between the different players and maybe also some synergies when we come up thank you thank you can i bring h2u next thank you my name is Attila Pinieri from h2u i represent an export class green hydrogen developer in in australia i think there is one element that i think secretary turk touch on like we should talk a bit more about the demonstrations uh in the sense of we should talk about the innovation that actually delivers from technology into assets because assets is what is going to decarbonize and so i think the ii is done historically an enormous amount of work to the technology cooperation program in basically sharing knowledge on innovation and even kind of casting that there are the side 20 years ahead in understanding trajectories for technologies but we've got an urgency to actually see some technologies that can go to scale today on the ground a scale and so permitting innovation was one area that was touched on financing innovation is really really important because it can be done by the project developers on one side through strategic equity so its equity gets access to a pipeline of projects by investing to a demonstration program but the level of innovation that makes the assets bankable because a demonstrator is it's not about the technology it is about bankability needs to be front and center so the loan guarantees is one mechanism loan to equity mechanisms anything that helps these projects being the risk in the in the eyes of investors and particularly debt providers is really important because at the end of the day if we don't demonstrate that bankability of an asset class we'll never going to see that asset class a scale in multiple locations in multiple instances so project delivery innovation financing innovation permitting innovation i think should be a theme itself above everything and above all technologies is it pays dividends across the spectrum thank you can i bring in denmark next thank you very much and just following up on what secretary turk said two points on political innovation and on connecting the dots all in an IEA context and being from denmark of course we have a quite a strong track record on on green innovation how come of course we have bright heads in denmark but we all have them for those globally and one of the answers is public pressure and i can say that as a governor official that no matter what any danish government does in the green transition it will never be enough in the eyes of the public and that's a good thing and i think IEA maybe has a role here because you provide science you provide information you provide data so you provide a lot of the basis for bringing about public pressure because the more people get to know on this issue not in a doomsday way but in a more scientific way I think that's that's a great help for all of us and then on on connecting the dots I just very briefly want to to commend you on having the the next global efficiency energy efficiency conference in Africa I think in Kenya and I think that's a that's a great way of applying one of the main outcomes of the Dubai consensus to an African context thanks that's also a good excuse to remind me that Simon said there is a global clean cooking summit that the IEA is hosting on the 14th of May with that can I bring in ETSAP TCP which you should explain what it is thank you my name is Brian Ogallakor I'm chair of ETSAP the it's one of the oldest technology collaboration programs it stands for energy technology systems analysis program and we developed the energy systems modeling tools that are used in by about 200 modeling teams in 72 countries around the world to help inform policies advise governments on the the future of energy technologies and energy systems so first day I'd like to say happy birthday to the IEA. When I was 50 I spent some time reflecting on the previous 50 years but also looking ahead and I'm glad to see that that dual focus here with the emphasis on the the looking ahead piece because I think it's it's critically important and I want to acknowledge Minister Ayman Ryan went in 2008 he was previously a minister for energy and he supported Ireland's re-engagement with ETSAP so that's one of the reasons that I'm here today so thank you for that. The the suggestion I have one suggestion for the IEA and it draws on some of the reflections that have already come true that energy technology itself innovation in technology is insufficient we need innovation in policy market finance but also in the societal aspects and it's this final piece the societal aspects I'd like to to focus on because I think it's it's more neglected than the policy market or financial elements and sometimes it's it's spoken in terms of the social contract it's spoken about in terms of acceptance of new technology acceptance of infrastructure but there's also an element about mobilizing society you know the because sometimes it can be expressed as a negative or getting over a barrier rather than a positive and when we look at what we need to do in terms of the accelerating the transition it's it's on the supply side it's on infrastructure it's on technology but it's also on reducing demand switching transportation modes changing practices and these are really difficult and challenging elements but there is a lot of analysis there's a lot of experience available on building societal capacity building societal infrastructure for this type of approach so my suggestion to the IEA would be a a joint workshop with people in that space people who do that analysis who are involved who have experience with that mobilizing society might be another aspects in other areas of not necessarily an energy but there's a lot can be learned and there is a lot of expertise within the IEA but it's it's a joint workshop and then possibly a collaborative initiative is what I'd suggest on that mobilizing society piece thank you thank can I bring in uh okra soler you too push a button okay cool awesome uh firstly thank you very much um for this event it's been really really interesting um I can share a little bit of a on the ground perspective so I just came in from uh Nigeria just a couple of days ago um when you're in Nigeria you just hear this sound it's like it's there 24-7 and it's basically there is a diesel generator that is running somewhere uh no matter what and you can always hear it um we work in uh off-grid electrification um and I'd like to give you uh a little bit of a memory from literally just like three days ago so uh we took the IEA the rural electrification agency um out to a village in Nassarawa state uh and they are connected with okra mesh grid technology which is our technology touch upon in a bit but basically when you talk to the community um you're like how has your life changed like how has productivity changed are you making like you know 10 times of money that you're making before and the responses that you get are actually very very interesting they're like well I don't know exactly how much more money we're making but like at night time our kids can read um and so that means they can help us with work during the day time um so just very different livelihoods they're like we don't have to go out and chop trees to get wood for cooking anymore because we have electric cooking um and we have refrigeration now so we can have ice cream uh people can go get treatments and the one that was most um I guess profound for me was that uh the doctor at the phc primary health care center uh was like we can now deliver babies at night time and we're making money from it and I'm like what do you mean it's like we charge 2000 naira which is two dollars to deliver a baby and we can do it at night time so it's commercially viable and helping people deliver babies um in a in a nice uh effective way so yeah there's there's about 700 million people globally who don't have access to electricity um and in communities like the one that I talked to you about there's innovative technologies that are getting deployed that a lot of us don't actually know about there's like battery swapping going on um the the cost per kilowatt hour was two to four dollars just think about that to get fuel from diesel in these communities so any solution that's you know better than that is an innovation that's having a huge impact um one of the things that's happening is they're installing solar and uh batteries at productive hubs where people may use refrigeration pumping etc and then they take the excess power to nearby uh households using mesh grid technology um and when I asked a bunch of people here if they'd heard about mesh grids um the vast majority said no two people said yes one was from Cambodia and one was from the IEA so great great job there um and basically what I want to recommend to the IEA is uh in in our experience we had to hustle with the rural electrification agency of Nigeria to get mesh grids included in the electrification strategy that can save over three billion dollars of CAPEX investment in Nigeria alone and I think the IEA is in a good position to inform and advise um other countries in in developing nations as to how to implement their electrification strategy last point is I think when as as as a CEO running a tech company we always look at distribution strategies um I think from our experience the World Bank who's lending 750 million to the Nigerian government for rural electrification they are very influential in the standards and the the tariff setting the policy for that country and that's kind of how we got in there but to scale this across the rest of Africa um I think we need to have a way that someone potentially like the IEA can communicate with organizations like the World Bank and take the innovations that are already there and get them scaling with um yeah modern regulation policy thanks thank you um remarkable story that one can I bring in at the next place thanks good afternoon to everyone and I think that the agency team made a wonderful work in these first 50 years and now from my perspective the real question is what can we do to support the future of the agency and we is the government because from my point of view we are we know very well that we have a lot of technologies that can help us to build a new sustainable world but now it's time to open our mind to understand that it's time to start a real collaboration between developing countries and developed countries this is a win-win solution I want to put this aspect on the table but it is necessary a courage from our side because sometimes and I spoke as a government part we have a lot of difficulties to speak to some other countries instead climate change sustainable future sustainable planet involves everyone we are at the same situation so only if we can support the rule and the works that the agency did very well in the past we really have the opportunity to put on the ground the technology and the innovation that you are here and you are demonstrated everywhere every time but again it is time to change our mind and I spoke this from a government position because this is extremely difficult sometimes and I saw this a lot of time during COP28 during COP28 we arrived as a real good solution a good statement but is only the beginning not to the end of the process thanks thank you I see more than 10 people who want to speak and we only have about 20 minutes left so I'm going to ask you to keep your remarks brief but can I bring Cody in next you have to you have to I'm just used to yelling thank you it is so it's been a great event thanks so much for for having me and and putting everything together I am coming here I think more worried than I feel like the a lot of the attitude is which I understand is not a very good not very good energy to bring to a birthday party but I like this morning for example we talked about how in the next three or four years we expect the 12 percent of electricity generation that's coming from wind and solar to jump to 25 percent but then it was also mentioned by the executive director that only 20 percent of final energy use is electricity and and we haven't really made any progress on the other part and additionally electricity today and also with that increase in three or four years is still jewel per jewel more emissions intensive than burning coal directly it is a complicated complicated situation so I think that one thing that the IEA could do that could be very very helpful and certainly would have been helpful for me when I was getting my PhD and you know in early days of thinking about the company that that I run would be to talk about lessons learned based on hypotheses that we thought were going to be true for decarbonization and ended up not being true and specifically what I mean is we seem to be very good at commercializing technologies that have a green premium in high-income countries and most of these technologies seem to have a green premium but if we want to scale faster and we need to scale faster we need to start scaling technologies that don't have a green premium but are green and you know one of the reasons why so much energy is heat is because heat is between 20 and 40 times cheaper than electricity and that should make sense right electricity is pure exergy it's work so it's a much higher value form of energy than heat and it always will be would appear to break a lot of thermodynamics for to do something otherwise but we also only have really clean electricity is the only option so if we think about decarbonizing technologies just by replacing heat with electricity for example then it's going to lead to a green premium we need to do something better than that and there are there have been a couple ways to electrify that have shown to work in industry and one of them is co-production and that's what my company does so making multiple products with a single capex that allows the use of electrification and justifies the much higher form of energy but there's there's lots of things that we've seen that we thought were going to be true 50 years ago or 15 years ago or I thought we're it was going to be true to my PhD that it looks like are not going to be true right so capex is really really important in industrial systems and it turns out that we really can't economically use intermittent electricity we have to use 24-hour electricity right so that could that be a great learning same with you know distributed solutions or small scale solutions that that appears to break a law of chemical engineering right the the product scales proportional to the volume which scales proportional to r cubed whereas what you pay for scales proportional to r squared which is the the service area of the reactor and therefore small scale things are more expensive in terms of capex than large scale things and that's why we see large scale in industry so there's several there's several empirical lessons that we can get from the last 15 years sort of debunking hypotheses that I think could set us up really really well to get the next set of innovative technologies out there and develop them so thank you thank you again I'm just urging everybody I want to get to everybody's thoughts so let's just keep the shot can I have acre next thank you and yeah let me congratulate the IA with its first 50 years IA is making an enormous contribution I think we all acknowledge that and also IA is more needed than ever I think we we can we can see that almost every day IA's convening role I mean it's it's it's platform for collaboration I think should not be underestimated and that might be more needed than ever we're in a world that's fragmented we all know that outside of this room it's that quite a lot of people being worried about the situation the world is in at the same time as we're at an urgent need of scaling up solutions as we've been talking about today here so that combination really points to the role that IA has I really like what Dave said about innovation friendship I think we should try and fill that with with some some concrete measures and IA is very well placed to do that through I mean to for example you know disseminating lesson learned trying to find collaborative platforms also for policy development I think would be very useful and to expand the family of those who are collaborating in that very very important to stimulate partnership and collaboration between governments is something that IA has done for 50 years expanding on that very important but I think it's also very important that as this meeting here is demonstrating to expand that collaboration to industry and finance to try to build up as big platform as possible of the let's say the friendship platform for for moving forward so I would really encourage IA to continue down that road thank you can I bring in Sama from one nuclear association next thank you very much I think as everybody I would like to congratulate the IA in in the 50th anniversary and also I want to thank the IA again for the opportunity of being here so to some extent the IA has included the role of nuclear energy in the global decarbonization for for some years but I think that certainly after COP 28 where for the first time we actually saw that the global stock exchange recognized nuclear energy as one of the energy technologies that need to be accelerated if we are serious about meeting Paris Agreement goals and we had over 25 countries committing to tripling nuclear capacity by 2050 one of the things that I would like to ask the IA is to continue doing the very good job that they are doing to put in together science base and level playing field studies but also making sure that the role of nuclear energy is appropriately included in those studies also I would say I heard many things that I think are very important that the IA has been very good at which is encouraging and incentivizing innovation in policies innovation in in finance we talked about innovation in business models certainly all those things are needed because we see that sometimes the challenges that we have is not the technology is the delivery model of this technology certainly that is true for for nuclear energy and and also the we really need to have I think that and in here I think the IA would be fantastic to look into industrial policy we heard this in a couple of sessions before and I would like to emphasize that I think it is important to have good energy policy but industrial policy goes right behind it because not every startup not every sector can develop their own supply chain their own industrial infrastructure in order to succeed to develop what we need at scale at speed thank you thank you can I get John or Donald next thank you the world is just entering this moment that intermittent electricity is becoming the cheapest form of energy we have ever had as a species and everywhere in the world grids are moving as renewables deploy from phase two to phase three to more and more volatility in pricing and more and more curtailment of clean energy one of the things the IA has done is deep study of electricity grids in many places separately the IA has done deep study of the energy needs for industry and industry's largest need for energy is in the form of heat and there are now a number of companies myself rondo among them that are bringing to market new energy storage technologies that store energy at a very small fraction of the cost of electrochemical energy story for electricity IEA bringing together knowledge from these two areas sector coupling between industrial energy use and grid energy generation that understanding that sector coupling the problems of industry are a solution to problems in the grid and vice versa is something that IEA can do uniquely and in places around the world this is quite advanced and other places it hasn't started yet IEA bringing lessons and best practices from areas where it's happening now and broadening that to worldwide will absolutely accelerate the deployment of clean energy in industry worldwide thank you energy lab thank you IA for bringing such a diversity of background and knowledge in the room and from energy lab we are independent non-profit operating in Cambodia I'd like to speak one minute on the background in the context and one minute on the suggestion for IEA so Cambodia is at a turning point in December it has announced that it would double solar commitment it will bring in variable renewable energy such as wind into its system it will look into pump hydro storage and it will also look into piloting BESS as a complement to existing solar farm so there is an ambition but there is the need to materialize that ambition and IEA has always produced very cutting-edge and independent report and analysis that we have been using in Cambodia to inform government actors as well as private sector and other non-profit organization so the suggestion for IEA is to continue doing that to continue pushing the boundaries further there is an ongoing effort to accelerate clean energy and at the same time to phase out of coal so it is a positive tension that tension needs to be nurtured with new and and breakthrough knowledge and as one of the person said it is important that there are actors that are further pushing the boundaries thank you thank you can I bring in Eric from breakthrough I'm Eric from a breakthrough energy venture as an investment fund if IEA is to build a secure affordable and clean energy critical minerals will be must-haves obviously not only enablers and we have a portfolio of 100 companies bringing innovation and new technologies to the field and for them critical minerals and for all of us in the room that will be obviously a must-have so IEA could probably push a boat forward and reach the next step on this topic by very fostering cooperation for a long-term view foster innovation and knowledge sharing probably propose some EHC standards in mining and in refining EHC will be key obviously propose some some rules and trends to govern this market dynamics establishing a two markets avoiding the cartelization of the of this area before even if it becomes ballistic that's very important so I would push for special initiatives in the next year so I wouldn't wait another five to ten years I would make it today before there are huge tensions obviously and maybe also innovation not only technology but also innovation in governance so we could probably put put in place a new forum create some new ways to discuss maybe a new agency to discuss those those topics and not only to discuss but to execute an operationalize on this transformation thank you thank you can I bring in IPHE next thank you thank you chair and I add my congratulations to others to the IEA for the 50-year anniversary of course and to this fantastic event I would just suggest one big idea I think that the IEA has now achieved so much in terms of the authority that they have in the world as a global energy authority that everybody goes to as well as have made tremendous inroads into the emerging economies and the developing economies that I think they can now step up to the plate of the biggest challenge I consider the biggest challenge is how do we scale up and speed up the clean energy in the emerging and developing world so to do that we need other institutions also around the table we need the financial institutions where are the developing bang multilateral development banks where is the world bank whereas IMF they need to be all put around the table and I think the IEA is now in a position that they can do that they can become the conductor of the big clean energy program that we need for the developing and the emerging world a new marshal plan for clean energy including clean energy manufacturing and the IEA can pose itself as the conductor and bring everybody together to make that happen I'm not sure you can do it in one year but maybe in two thank you thank you Paul Simons thank you very much first of all it's a pleasure to see so many former IEA colleagues around this table I have three very quick recommendations first wider dissemination of the current IEA studies especially the revamped energy technology perspective study into academia to frame the work of scientific researchers that are working on innovation so I've been teaching for the last three years after leaving the IEA and I use these materials and I found that we have students that are you know they're exploring profskites looking into batteries etc but they don't know how their work fits into the bigger picture but the IEA can help them do that and it can really framework and it could encourage more people to to go into the field so that's the first recommendation the second recommendation the IEA currently conducts in-depth reviews of the energy and climate policies of all the member countries and some also emerging countries but these reviews are they're very long and they're very detailed and they're not terribly focused I would suggest that the IEA switch to conducting technology innovation reviews of key countries that really focus in on the ETP messaging and the IEA has a lot of credibility for these reviews actually Sama and I work together on one of the reviews has a lot of credibility because it brings in peers from all around the world it's not just but it brings in some IEA staff and international peers and to focus these reviews on the technology challenges especially in the emerging countries the third recommendation I have is that the IEA should better utilize its alumni network it has an extraordinary network because most people can own free jobs they're all everyone's smiling they're they're all over there the alumni but they don't they don't use us they don't use us and we're very valuable tools so you guys should reach out I mean there's not even a compilation of you know where we are who we are we did a we did a we did a reunion in Washington at my place a couple of months ago it was fascinating everyone wanted to do more for the IEA but nobody had really even reached out to them so that's my third recommendation thank you well there was the question was about how to give IEA more work but you've you've asked for more work for yourself so that's great can we get Peter Taylor from the University thank you very much I've also got three very practical areas so the first we've heard a lot about financing today and obviously the IEA does work in that space but I think there's scope to bring its analytical power and importantly its communication skills to shine a greater light on that important topic so that's number one secondly a game you know the IEA is famous for its statistics on research development and demonstration but I think it's time now to review whether the breakdown there is is the right breakdown given the challenge that we've got whether we ought to be looking at more statistics on the demand side on technologies which are relevant to emerging countries and also to bring on a consistent basis what's going on in non-member countries and also in the private sector so we have a much better picture of what's going on and then finally I think you know the IEA is famous for its reports and I think that it could do with focusing on some of the Cinderella sectors shall we say where perhaps attention is not so much focused so we heard about industrial heat today I would say that's probably one Cinderella sector but there are also others including perhaps shipping and with that thank you thank you the last one from Fesley and then we'll come to final remarks hi so what I would like to say is you know by creating a local office for instance for instance in South Africa could literally serve a lot and serve a lot of people and I see this as a venture building type of office or type of institution that is created to not just have a have a place where we just talk about it but has a place where we actually do something about it and that is being you know the clear the clean energy agenda within this type of institution we create working programs and interventions that need to be designed in such a way that you know all actions and outcomes are measurable in terms of the evaluation criteria of what it is that's being done and this is both for successes and failures and I also want to say is that to encourage innovation this whole type of institution will encourage innovation and new ideas as we need to encourage venture building and local investment like I've mentioned earlier there's lots of money being plowed into Africa and more so South Africa but who's it going to going to is it being distributed fairly to all types of innovators that's more so the reason and then also as a local partner is incremental to the success of this entire institution or ecosystem that I that I that I'd like the IA to look into and taking on a structured approach with the use of AI and people-to-people methodology is very important because what you normally find within the funding ecosystem is that you find yourself not not not speaking to the institution but you're speaking to a person's ego which in most cases funding misses a lot of people here and there's a lot of potential that is being missed and what we can what we can be doing here is also building a structure tomorrow. Last sentence, such an institution will not only spare innovation but will also encourage the development of new learning institutions that will fast track green economy objectives and also most importantly link accountability. Thank you. First of all apologies for keeping you all short but we have managed to keep this on time so a round of applause for everybody's contributions. With that I hand over the mic to Timor. Thank you very much Akshat for and for so deftly moderating today's plenary sessions. We have heard from many speakers covering many many different topics and you've done a really great job in guiding the discussions and keeping us on time we started slightly late and you managed to stick exactly on the time. I mean five minutes late we started five minutes late we finished so congratulations and thank you very much big applause to you in fact. I would also like to thank the colleagues who've been working behind the scenes to make today's event happen. I can't remember who said it about the big team that was behind it there is a big team indeed but I would like to really sing it out here Simon Bennett who's sitting over there Per Anders Videl and Anakalista for the enormous amounts of work and late night shifts they put into making today's event happen so thank you very much to the three of you. So dear colleagues thank you for participating and for all your thoughtful contributions on behalf of everyone here at the IAA I would like to say that we have learned an awful lot from you. It was an enormous amount of coverage that we had and it will feed directly into our future work on clean energy technology innovation that's been very inspiring to hear all your thoughts from the breadth of sectors countries technologies institutions that you're representing and you can count on our support moving forward. This event as Japanese minister said earlier today and our executive director this morning was convened in parts as the result of a request of to the IAA by the G7 leaders clean energy economy action plan to convene an international forum on the topic of energy innovation and really big thanks to Japan here in particular for the leadership as well as all the excellent support they have been giving to us to the IAA in terms of our technology work alongside many other countries even though I must say what Bert said here from the Netherlands sounded very clearly with me our governments can help us even more absolutely. So as was mentioned at the start the conclusions of today's meeting will be passed on to directly to the ministers we are gathering for the IAA's ministerial meeting and the 50 years celebration in fact deputy secretary Turk will be the rapporteur tomorrow at the ministerial meeting. As part of the 50 year celebrations the plenary session will begin in just a few minutes time at a quarter past four and I encourage you all to follow the presentations from this room it's unfortunately a lot of delegations and many others who are in the main room but here is the dedicated listening room so please take advantage of that. There will be 50 anniversary celebrations a reception taking place thereafter bringing together the participants involved in all the ministerial meetings of today the opening the various different high-level dialogues this energy innovation forum it will take place upstairs in the Salon du Parc starting at a quarter past six and continuing until around 8 p.m. Thank you very much once again to be with us here in this first ever IAA energy innovation forum and I hope you enjoyed the day as much as we did thank you very much