Prime Minister Naftali Bennett's government is taking the issue of climate change more seriously than ever before. Israel has brought a delegation of 140 members to the 26th UN Climate Change Convention in Glasgow, Scotland.

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This week, Bennett pledged Israel would stop burning coal for electricity by 2025 and become a net-zero carbon economy by 2050. While the pledges, particularly the latter, will be extremely difficult for a nation that currently relies on abundant sources of natural gas, the net result will likely be negligible compared to significantly larger countries.

Speaking at the COP26 plenary, Bennett noted, "Our carbon footprint may be small, but our impact on climate change can be mighty." He called on Israeli entrepreneurs to "be the game-changers" and harness their creativity for climate solutions, calling the Jewish state the "climate innovation nation."

In particular, Bennett announced the launch of an official task force called the "Green Sandbox" to provide funds to entrepreneurs and cut bureaucratic red tape.

Like other speakers, the prime minister noted that fighting climate change would require "new inventions and new technologies that have not yet been imagined."

In addition to the allocation of government funds, venture-capital firms are beginning to turn towards climate solutions.

At the Middle East Green Initiative Summit in Riyadh last week, Larry Fink, the CEO and chairman of Blackrock – the world's largest asset manager –shared his belief that "the next 1,000 unicorns—companies that have a market valuation over a billion dollars—won't be a search engine, won't be a media company; they'll be businesses developing green hydrogen, green agriculture, green steel, and green cement."

'Better science, better technology'

According to Itamar Weizman, partner and head of climate investments at Firstime Ventures, the convention itself represents "a huge economy."

"There are a lot of global trends in sustainable thinking that are brought forth here in terms of preventing deforestation, in terms of bringing solutions for water tech, in terms of bringing better, renewable energy to the world, in terms of weaning people off of fossil fuels, in terms of better science, better technology," he explained.

"There is more than $7 trillion worth of investors that are coming to COP," Weizman told JNS.

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Firstime Ventures hopes to become a major player in funding Israeli climate technologies. At COP26, the company announced the launch of its own $100 million venture-capital fund that would invest in around 15 Israeli startups.

"We are [investing] in Israeli companies that are promoting solutions for climate change, from renewable energy to precision agriculture to water solutions," he said. "Israel has a lot of value to bring to the world in terms of climate technologies."

Firstime further announced that "billionaire investor Jonathan Kolber" would be joining the fund.

Reprinted with permission from JNS.org.

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Israel said Friday its hope was to reach zero greenhouse gas emissions by 2050, as thousands of protesters gathered in Tel Aviv to demand action ahead of next week's UN summit on climate change.

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As a small country, Israel contributes little to global warming, but officials say it has much to offer the world in terms of green technologies. Israel, which has already had to adapt to life in a parched region, is widely considered a world leader in areas such as solar energy storage, sustainable protein alternatives, agriculture technology, and desalination.

Prime Minister Naftali Bennett announced the pledge in a statement Friday, saying it was a continuation of efforts already underway to combat climate change.

"With the new goal, Israel is lining up alongside the developed countries that are already taking action to attain the goal of zero emissions," he said. "We are responding to the global challenge, finding technological solutions and joining in to achieve this important goal."

Israel had previously said it would fall short of the goal of the international community to reach zero net emissions by 2050, expecting to reduce emissions by 85% by that time. Environmentalists have cited a lack of political will by previous governments and the country's reliance on newly discovered natural gas for energy for the lower target.

Thousands of people gathered in Tel Aviv on Friday to demand action.

International officials will meet in Scotland from Sunday to try to accelerate efforts to curb climate change, with more than one world leader saying humanity's future is at stake. Six years after the historic Paris climate agreement, carbon pollution from coal, oil, and natural gas is increasing, not falling.

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Ahead of Prime Minister Naftali Bennett's upcoming trip to Glasgow to attend the 2021 UN Climate Change Conference, the government approved plans to encourage climate innovation and the development of technologies for bringing down greenhouse gas levels and prepare for climate change.

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Through the plan, approved by Bennett, Energy Minister Karine Elharrar, and Environmental Protection Minister Tamar Zandberg, follows government moves to shift to a low-emission economy and the imposition of national goals to cut greenhouse gases by 2030 and again by 2050.

The goal is to encourage research and development of technologies with the ability to assist in global efforts against climate change, both in terms of mitigation and adaptation in fields such as energy, food, agriculture, and water. Some of these technologies are unique to Israel due to the country's desert climate.

In the first stage of the plan, a task force for accelerating climate technologies, to be headed by the Prime Minister's Office director-general in collaboration with the Finance Ministry's chief accountant and the attorney general will be established. The task force will work to remove red tape impeding research, development, and implementation of relevant technologies in public infrastructure and organizations.

In the second stage, the Prime Minister's Office director-general will act to create a mechanism to encourage investment in the research and development of technologies aimed at fighting the climate crisis. This will include collaborations through research funds and binational funds and the consolidation of budgetary resources, in coordination with the various government ministries.

Ministers from the Energy; Environmental Protection; Innovation, Science and Technology; Finance; Industry; and Agriculture Ministries will work to establish a conference for climate change innovation and technology, with the participation of the prime minister as well as senior government representatives and representatives from the private sector, academia, and third-sector organizations.

One year from its establishment, the team will present its work and recommended steps for public bodies to take to promote the implementation of technologies to reduce greenhouse emissions and take on climate change to the public.

Ahead of a government meeting Sunday, Prime Minister Naftali Bennett said, "The climate crisis is one of the central issues on the global agenda, and rightfully so. It touches all of our lives,' as well as the lives of our children and our grandchildren. It's in our souls. We are required to do this here in Israel as well, at all levels and across all ministries.

"The government will today approve a number of decisions, among them the promotion of clean and low-carbon transportation, energy efficiency, and emission reduction, the encouragement of technological innovation, and framework acceleration. There is another series of actions we are examining, and we will announce them later on when they are ready."

In a statement, Elharrar said: "The time has come to enlist Israeli creativity and innovation in the State of Israel's fight against the climate crisis. For years, Israeli start-up companies have been at the forefront of global activity in a variety of fields. This decision is aimed at removing red tape, advancing groundbreaking projects, and making it easier for entrepreneurs in the green energy field. I thank the prime minister for his commitment to advancing the issue and I am confident his experience and love for innovation will succeed in promoting the important goal of encouraging innovation in the green energy fields …."

Zandberg said: "Israel is home to advanced start-up companies and leading research centers, and Israeli climate innovation is already a global leader in some fields. This is an opportunity for us not only to accelerate the innovation economy and Israeli technology but to play an outsized, central role in solutions on both the regional and global level."

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