From policies to progress: Boosting low-carbon tech adoption

What is it about?

Low-carbon technologies (LCTs) are products and tools that help reduce greenhouse gas (GHG) emissions, which are the main cause of climate change. These technologies lower carbon emissions from many activities, helping to lessen the impact of climate change. However, LCTs are not used widely around the world. This is due to various factors including the climate and trade policies of different countries. The author of this paper explores how these policies influence the spread of LCTs. The author used a detailed database of climate policies and new databases that track changes in trade and taxes related to LCTs in different countries. The study shows how changes in the number of climate policies and taxes on LCT goods affect the trade of these technologies.

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Photo by Dan Meyers on Unsplash

Photo by Dan Meyers on Unsplash

Why is it important?

Unchecked GHG emissions can speed up climate change, which harms a country's economy and financial stability. But there's hope! By adopting LCTs more effectively, countries can reduce this risk. Developing countries often produce more GHGs than others and adopting LCTs could benefit them significantly. But we need to find ways to encourage LCT adoption. For example, countries can create better climate policies to support using these technologies. Additionally, improving trade policies to import new LCTs from other countries would help spread them globally. The study provides data to guide smarter decisions about climate and trade policies, aiming to get more countries on board with LCTs. KEY TAKEAWAY: Strong climate policies and reduced taxes help propagate LCTs globally. This effect is more pronounced in developing countries. Thus, supportive climate and trade policies are vital for promoting the global adoption of LCTs. This research relates to the following Sustainable Development Goals: •SDG 13: Climate Action •SDG 7: Affordable and Clean Energy •SDG 9: Industry, Innovation, and Infrastructure •SDG 12: Responsible Consumption and Production •SDG 8: Decent Work and Economic Growth