THINK TANK ARGUES CLIMATE STUDIES UNDERESTIMATE NEW TECHNOLOGY

A prominent climate change think tank is arguing that economic models should provide greater weight to the way climate change requirements promote technological innovation. The group also concludes that projected costs of reducing greenhouse gas emissions are far lower when taking into account policy incentives to develop new technology. The Pew Center on Global Climate Change released an Oct. 13 report arguing for the importance of "induced technological change," which occurs when climate change policies encourage the development of technology...