All countries agree on the urgent need to decouple emissions growth from economic growth – in other words, to create a low-carbon economy. In practice, this means we need to accelerate the research, development and deployment of clean technologies.
Governments have an important role to play in this regard (the Global Carbon Capture and Storage Institute, the Major Economies Forum on Energy and Climate and Asia-Pacific Partnership on Clean Development and Climate are good examples). But governments alone can’t tackle this problem. Most inventions come from individuals or companies. The private sector has the right skills, infrastructure and experience and will be the main source of innovation. Governments can encourage this innovation with strong investment frameworks to harness the power of markets and stimulate research, development and deployment.
No single technology will solve the climate change challenge. Australia is seeking a new global climate change agreement that enables countries to assess the technologies that are most appropriate for their specific needs, and to access these technologies. The agreement should promote an international environment that accelerates the deployment of appropriate clean technologies, particularly through carbon markets.
While developed countries have a responsibility to support developing countries to acquire clean technologies, it is important to recognise that new technologies come from all over the world. China, for example, is a world leader in wind power. Australian companies also have a long tradition of innovation, for example in developing solar power.
There is a vast array of clean technology-related actions under way at the national and international levels. Australia is an active participant in many of these. The post-2012 outcome should take advantage of these existing efforts. Collaborative efforts—where resources are pooled and risks shared—help to bring down individual costs, promote the exchange of know-how, and expand investment and trade in clean technologies.
