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Copenhagen Consensus Center

Fix The Climate: Researching Green Energy Perspective, Bosetti

Perspective Paper

Dr Valentina Bosetti finds that R&D will be an essential part of any climate policy, independently of how stringent the optimal climate policy is believed to be; R&D policy alone will not do the trick, unless the goal is simply to diversify energy provision rather than significantly reduce emissions; and that combining R&D and climate policies (as for example through an international fund for breakthrough technologies R&D) might lead to efficiency gains and help contain climate policy costs.

She also specifically focuses on R&D in Carbon Storage as a solution to Climate Change. Although uncertainties are very relevant when dealing with R&D investments, a program aiming at decreasing capturing costs or increasing the CO2 capture rate is shown to pass the cost-benefit test, if a climate policy is in place.