Hyundai Motor and the Beijing-Tsinghua Industrial R&D Institute kicked off this fourth week after the 1,5 C UN Report with their announcement on October 19, 2018 of the first  joint a $ 100mln Hydrogen Energy Fund, with potential venture capitalists from Asia, Europe and the United States “The fund, once fully set up, will be used in the infrastructure needed for the hydrogen industry and venture startups with core hydrogen technologies,” the statement said. Yield Capital, an investment organization under the Chinese institute, will be responsible for raising funds and managing them, it said. Hyundai, as part of the October Clean Driving Month launched its next-generation Hydrogen Fuel Cell Electric Vehicle, NEXO,  teaming up with University College London (UCL) to map a driving route of the most polluted and congested roads in London including areas such as Kings Cross, Westminster, Elephant & Castle and Deptford. The NEXO actually cleans the air around it as it drives, filtering particulates out of the air.

On other finacial news the Green Climate Fund, GCF has committed $3.5 billion to a portfolio of 73 projects to support low-emission and climate-resilient development. At its last  Board meeting from 17-20 October 2018,  it considered another 20 new project proposals totalling $1.1 billion in GCF resources.   In parallel with the IPCC launch of its Global Warming of 1.5°C report, in which in D5.3. it is mentioned that “global model pathways limiting global warming to 1.5°C are projected to involve the annual
average investment needs in the energy system of around $2.4 trillion between 2016 and 2035 representing about 2.5% of the world GDP (medium confidence), GCF held its first Global National Designated Authorities (NDA) Conference on October 8, 2018  in Incheon, to explore how GCF climate finance can help drive climate action across the planet. At least 23 Ministers joined other government representatives in GCF’s largest gathering of developing country governments, to explore how developing country access to GCF financial resources can forge low-emission and climate-resilient pathways.

C2.6 Total annual average energy-related mitigation investment for the period 2015 to 2050 in
pathways limiting warming to 1.5°C is estimated to be around 900 billion USD2015 (range of 180
billion to 1800 billion USD2015 across six models17). This corresponds to total annual average
energy supply investments of 1600 to 3800 billion USD2015 and total annual average energy
demand investments of 700 to 1000 billion USD2015 for the period 2015 to 2050, and an increase
in total energy-related investments of about 12% (range of 3% to 23%) in 1.5°C pathways relative
to 2°C pathways. Average annual investment in low-carbon energy technologies and energy
efficiency are upscaled by roughly a factor of five (range of factor of 4 to 5) by 2050 compared to
2015 (medium confidence). {2.5.2, Box 4.8, Figure 2.27}

D5.5. The systems transitions consistent with adapting to and limiting global warming to 1.5°C
include the widespread adoption of new and possibly disruptive technologies and practices and
enhanced climate-driven innovation. These imply enhanced technological innovation capabilities,
including in industry and finance. Both national innovation policies and international cooperation
can contribute to the development, commercialization and widespread adoption of mitigation and
adaptation technologies. Innovation policies may be more effective when they combine public
support for research and development with policy mixes that provide incentives for technology
diffusion. (high confidence) {4.4.4, 4.4.5}.