Most high-potential climate technologies, such as wind, solar, hydrogen, biofuels, etc. are at advanced maturity levels, but only 10 percent are commercially competitive, according to McKinsey research.
Passenger battery electric vehicles, and wind and solar energy as a whole, though commercially available, still need further support (eg. subsidies) for lowered costs.
Ede Ljjasz, Senior Fellow at Brookings Institution, calls on developed countries to remove trade barriers and fulfill their financial commitments to support global climate efforts. Eliminating tariffs and reducing non-tariff measures on energy-related environmental goods could boost exports and lower costs for adoption.
“In a historical context, the majority of carbon emissions were generated by the developed world. Therefore, they have a responsibility, a global responsibility, to help solve this problem,” Ede Ljjasz said.
