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Disrupting Climate Change Through Innovation

Summary:
The only way to get ahead of a crisis as large as climate change is through groundbreaking technological innovation in clean energy and low-carbon technologies. And that, in turn, will require efforts to mitigate investment risks for private-sector actors, who cannot be expected to ignore their own bottom lines. LISBON – Because it poses an existential threat to humanity, climate change represents the bad kind of disruption. But it can – and must – be fought with the good kind of disruption: innovation. Since the Industrial Revolution, disruptive innovation has generated growth, created jobs, and opened new avenues for investment. And in the case of climate change, it could save humanity, by accelerating global

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The only way to get ahead of a crisis as large as climate change is through groundbreaking technological innovation in clean energy and low-carbon technologies. And that, in turn, will require efforts to mitigate investment risks for private-sector actors, who cannot be expected to ignore their own bottom lines.

LISBON – Because it poses an existential threat to humanity, climate change represents the bad kind of disruption. But it can – and must – be fought with the good kind of disruption: innovation. Since the Industrial Revolution, disruptive innovation has generated growth, created jobs, and opened new avenues for investment. And in the case of climate change, it could save humanity, by accelerating global efforts to reduce greenhouse-gas (GHG) emissions. In fact, innovation will be absolutely necessary for a successful transition to a green economy that leaves no one behind. Without it, we have less chance of achieving genuine sustainability.

The alternative, of course, is unthinkable. To understand the extent of the threat posed by climate change in the event that we do nothing, consider where we are today. Average global temperatures have already risen by almost 1°C above pre-industrial levels, owing to the accumulation of GHGs in the atmosphere; and...

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