Energising Innovation: The Role of Global Innovation Alliances to Address Key Energy Challenges

By Laura Sacks

Laura attended the Y20 Turkey Summit in 2015, representing the UNSW Co-op Scholar Program. Laura is a Bachelor of Engineering student and previously worked as a strategy analyst at Deloitte. She is also the president of the Mechanical Engineering Society at UNSW.

Abstract

Innovation in the global energy sector is increasingly imperative to buttress economic and environmental sustainability moving forwards. Climate change and negative resource trends including decreasing supply and rising energy demand mean that finding innovative solutions to lessen our reliance on traditional fossil fuel sources is increasingly vital. Enabling innovation alliances between low-income developing countries and the developed world is essential for both to gain maximum benefit from upcoming energy technologies while also creating solutions to key global energy challenges.

This study will establish the scope for global innovation alliances in the energy sector in order to maximise return on investment and sustainable impact. It will use case studies to demonstrate the success of international collaboration in this critical and growing industry. The inclusive nature of the G20 positions it as an ideal forum to form strategic innovation alliances, as well as to develop policies that incentivise ongoing relationships between developing and developed countries in the energy sector. This raises the question of the limitations of the current role of the G20 and the potential need to drive it toward being a more active platform for implementing economic reform.

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