Sustaining investment in climate innovation
Part of a series of Climate Innovation Insights published by Climate-KIC.
- Limiting global warming to 1.5°C, the target under the Paris Agreement, will require massive investments in low-carbon innovation.
- After two decades of growth, patent filings for low-carbon technologies, and public research and development (R&D) expenditures on climate innovation, have both decreased in recent years.
- Higher and more stable carbon prices than exist today are necessary for sustained investment in low-carbon technologies.
- Public support for climate-related R&D is needed at all stages of innovation, but governments mostly support the diffusion of existing technologies.
- Public support for technologies further away from market must increase substantially to achieve climate targets.