He further emphasizes the following lessons:
- National level innovation policies need to be coupled with dedicated technology support policies until full competitiveness of the technologies is achieved. Carbon pricing can accelerate the latter point in time, but cannot eliminate the “valley of death” problem
- International climate finance and market mechanisms have to date not been able to mobilize widespread technology innovation, while especially the latter have been effective in technology diffusion.
- The Technology Framework can play an important role in overcoming nonmonetary barriers, but cannot resolve the problem of the “valley of death”.
View his speech here.