{"title":"It’s not a sprint, it’s a marathon: reviewing governmental R&D support for environmental innovation","authors":"Leonie Meißner, Sonja Peterson, F. Semrau","doi":"10.1080/09640568.2024.2359442","DOIUrl":null,"url":null,"abstract":"In a race against excessive global warming, the world must accelerate the development and adoption of environmental innovations (EIs). EIs are crucial in decarbonizing the economy and meeting the net-zero targets. In this literature review, we delve into the role of governments in promoting EIs across stages of maturity and the likeliness of such support to reduce emissions and mitigation costs. Various theoretical justifications, such as knowledge externalities, dynamic increasing returns, path dependency and incomplete information, highlight the necessity to promote EI through governmental Research and Development (R&D) support. While emission pricing remains the most cost-efficient climate policy, it fails as a stand-alone instrument to sufficiently encourage EI. Accordingly, the optimal approach is a policy mix complementing emission pricing with governmental R&D support. The theoretical finding is backed by empirical studies on the development and deployment of renewable energies, which also show that investment in R&D can effectively reduce emissions and mitigation costs. By combining theoretical and empirical research, the review concludes by examining two pivotal policy actions aimed at accelerating the take-off of EIs: The US Inflation Reduction Act and the European Green New Deal Industrial Plan. We evaluate their specific aspects and limitations to effectively and efficiently contribute to decarbonization.","PeriodicalId":48149,"journal":{"name":"Journal of Environmental Planning and Management","volume":null,"pages":null},"PeriodicalIF":4.4000,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Environmental Planning and Management","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/09640568.2024.2359442","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
引用次数: 1
Abstract
In a race against excessive global warming, the world must accelerate the development and adoption of environmental innovations (EIs). EIs are crucial in decarbonizing the economy and meeting the net-zero targets. In this literature review, we delve into the role of governments in promoting EIs across stages of maturity and the likeliness of such support to reduce emissions and mitigation costs. Various theoretical justifications, such as knowledge externalities, dynamic increasing returns, path dependency and incomplete information, highlight the necessity to promote EI through governmental Research and Development (R&D) support. While emission pricing remains the most cost-efficient climate policy, it fails as a stand-alone instrument to sufficiently encourage EI. Accordingly, the optimal approach is a policy mix complementing emission pricing with governmental R&D support. The theoretical finding is backed by empirical studies on the development and deployment of renewable energies, which also show that investment in R&D can effectively reduce emissions and mitigation costs. By combining theoretical and empirical research, the review concludes by examining two pivotal policy actions aimed at accelerating the take-off of EIs: The US Inflation Reduction Act and the European Green New Deal Industrial Plan. We evaluate their specific aspects and limitations to effectively and efficiently contribute to decarbonization.
期刊介绍:
Journal of Environmental Planning and Management has already established itself as a leading forum for up-to-date scholarly but accessible papers on all aspects of environmental planning and management. With contributions from leading international authors, the Journal publishes influential, high quality papers -an essential feature whether you are a subscriber, reader, contributor or all three. The Editors and International Editorial Advisory Board are drawn from around the world and are committed to encouraging researchers and practitioners to contribute to multidisciplinary and international debate in the field. The central aim is to focus on the integrated planning and management of the environment.