The Pandemic’s Innovation Lessons for The Climate Crisis
Global Voices
By Antonio Andreoni, Head of Research, UCL Institute:Shaping markets and industries via the right policy mix of targeted government financing and procurement can accelerate the green transition.
Tackling the climate crisis also will require the rapid acceleration of innovation and the associated scaling of production capacities within the framework of a mission-oriented innovation policy. Demand-side funding in the form of advance-purchase agreements could be applied to climate-related innovation, too. In the US, for example, public procurement is now an important component of innovation policy and a key driver of financing. The US government spends an estimated $50 billion annually on innovation-based procurement, equal to nearly one-third of federal spending on research and development.
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The Pandemic’s Innovation Lessons for The Climate Crisis
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