Can technological development solve environmental issues dramatically?
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Answer
The latest scientific knowledge on climate change indicates that the world is on a greenhouse gas emissions trajectry which is worse than the IPCC worst case scenario. In addition to this, the International Engergy Agency estimates that energy demand will double from present lefels by around 2030. These two developments can only be combined when low carbon technologies are successfully implemented.In order to achieve this objective, the additional financing needs for climate change mitigation technologies are estimated to span a range of USD 262-670 billion per year, which is around three to four times greater than the current global investment levels.
Reference
UNFCC, Handbook on conducting technology needs assessment for cliamte change