This is what we need to be working on, according to the top executives of the UK Carbon Trust in today’s Financial Times. They offer five policy principles that they claim would benefit both government and business. For example, their fifth suggestion:
…it is crucial to recognise that most innovation occurs in a handful of big industrial powers and is diffused globally through investment by multinational companies. The calls for global R&D and technology transfer programmes thus miss the point. The key is to ensure that energy innovation is supported by domestic market incentives, is in a low-carbon direction and is then projected internationally by incentive systems that reward low- carbon investors in developing-countries.