As WDR 2010 observes in the opening paragraphs of Chapter 7, "Technological innovation and its associated institutional adjustments are key to managing climate change at reasonable cost." The development as well as diffusion of climate-smart technology was an important part of the debates leading up to Copenhagen. A recent blog by Professor Geoffrey Heal of Columbia University, whose work on climate change damages is referenced in the WDR, addresses this topical and controversial issue. Writing at voxEU.org, a policy portal set up by the Centre for Economic Policy Research, Heal argues that
..."neither costs nor capital requirement will prevent us from decarbonising the electricity supply. The real obstacle to doing this largely with renewables is our current inability to store power, and as long as we cannot store power we will need to use non-renewable sources like nuclear and coal with carbon capture and storage."
Heal's blog can be found at http://www.voxeu.org/index.php?q=node/4138.
