Every government wants to attract and support the development of cutting-edge technologies. The deployment of new technologies can raise living standards, create jobs, give rise to centers of excellence, stimulate growth and investment, and facilitate the delivery of important services like electricity and healthcare. New technology solutions will also be critical to improving our use of natural resources and helping governments manage the rising costs of delivering services and addressing pressing challenges, such as climate change, mitigation of which will require massive resources. The Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) has estimated that through 2030, it will cost as much as US$200 billion per year to keep the world at current global greenhouse gas (GHG) levels. We will not be able to afford this enormous price tag without technological advancement. By some estimates, innovation in clean technologies would reduce the cost of mitigation by as much as 50 percent.
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