1.3.3.2 Research and development expenditures

The most rapid growth in public-sector energy related technology R&D^[16] occurred in the aftermath of the oil price shocks of the 1970s. There is no evidence yet of a similar response from the latest price surges. A technology R&D response to the challenge of climate mitigation has not occurred. Energy technology R&D has remained roughly constant over the last 15 years despite the fact that climate change has become a focus of international policy development. Energy technology R&D is one policy lever that governments have for encouraging a more climate friendly capital, a strengthened publicly funded commitment to technology development could play an important role in altering the trends in GHG emissions.

International cooperation in the field of technology R&D may provide the leverage to otherwise insufficient national R&D budgets. Several international partnerships on the development of cleaner technologies have been created (see Section 1.4.2).