Five Times Higher

OECD Insights:

Governments play an important role in fostering innovation and supporting the scaling up of deployment of existing and emerging technologies in the energy sector, since many low-carbon technologies currently are more costly than fossil fuels, although their costs are declining. In fact, to achieve a 50% reduction in CO2 emissions, government funding for research and development in low-carbon technology needs to be two to five times higher than current levels.