Canada has joined the second phase of Mission Innovation, a global consortium of 22 countries plus the European Commission, to meet Paris Climate Agreement targets using investments that make clean energy technology more affordable.

Mission Innovation 2.0. calls on members to guide private-public spending over the next decade on three so-called “missions,” revealed Wednesday, focusing on power systems, shipping and hydrogen.

“These Members are now investing an additional $5.8 billion annually in research, development and demonstration and Mission Innovation has become a catalyst for strengthened global cooperation on clean energy innovation as part of an urgent and lasting response to climate change,” read the joint member statement.

“The world needs to get to net-zero. There’s no other option,” Natural Resources Minister Seamus O’Regan told POLITICO, adding “bold action” and working with international partners will be key to support low-emissions energy innovations to hit climate targets.

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