Regions

Op-Ed

New International Energy Forum Focuses on Innovation

Authors: Varun Sivaram and Graham Pugh
The Hill

Last month, energy ministers from around the world gathered in San Francisco for the annual Clean Energy Ministerial (CEM), which for the past seven years has focused on deploying existing clean energy technologies around the world. But for the first time, clean energy innovation was on the gathering’s agenda as well. In a parallel “Mission Innovation” Ministerial (MIM), twenty countries and the European Union — accounting for over 80 percent of the world’s public energy research and development (R&D) funding — committed to collectively double R&D funding to $30 billion by 2021.

See more in Global; Energy Policy; Climate Change

Article

Venture Capital and Cleantech: The Wrong Model for Clean Energy Innovation

Author: Varun Sivaram
MIT Energy Initiative

Venture capital (VC) firms spent over $25 billion funding clean energy technology (cleantech) start-ups from 2006 to 2011 and lost over half their money; as a result, funding has dried up in the cleantech sector. In this article, we present the most comprehensive account to date of the cleantech VC boom and bust, aggregating hundreds of investments to calculate the risk/return profile of cleantech, compared with those of medical and software technology investments. The results are stark— cleantech offered VCs a dismal risk/return profile, dragged down by companies developing new materials, chemistries, or processes that never achieved manufacturing scale. We conclude that the VC model is broken for the cleantech sector, which suffers especially from a dearth of large corporations willing to invest in innovation. Fortunately, new public and private capital may be on the way after announcements made at the 2015 Paris Climate Change Summit. If a new and more diverse set of actors avoids the mistakes of the cleantech VC boom and bust, then they may be able to support a new generation of cleantech companies.

See more in Global; Energy and Environment

News Release

CFR Establishes Lipman Chair to Focus on Emerging Technologies and National Security

To assist generations of U.S. policymakers to navigate the complexities of cyber and other technological threats, the Council on Foreign Relations (CFR) has launched the Ira A. Lipman Chair in Emerging Technologies and National Security, named for longtime CFR member Ira A. Lipman, the founder and chairman emeritus of Guardsmark, LLC—one of the world’s largest security services companies.

See more in United States; Cybersecurity

Op-Ed

Turkey’s in a Terrible Spot

Author: Steven A. Cook
Slate

Security in Turkey has deteriorated in recent years as the country’s leadership seeks to influence conflicts around its borders, argues CFR’s Steven A. Cook. Turkish policies toward Syria, the Kurds, Iraq, and the fight against the self-declared Islamic State has contributed to the rise of terrorism in Turkey, including the attack on the Istanbul airport.

 

See more in Turkey; Politics and Strategy