Authors: Archon Fung
December 1, 2004
John F. Kennedy School of Government, Harvard University

Achieving long-term climate change policy goals will require a remarkable ramp-up in the innovation and deployment of energy-efficient and low-carbon technologies. This technological transformation must occur in an environment that is already experiencing substantial increases in investment. The International Energy Agency forecasts more than $20 trillion of investment in the global energy infrastructure between now and 2030. Some of this accelerated investment is evident in China, where one out of six coal-fired power plants is less than three years old. But the investment is not universal; populations in the lease developed countries still suffer from lack of access to power and basic energy poverty that can inhibit advances along a variety of development measures.

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