The report, titled Technology: Its Role in Economic Development and Climate Change, highlights the significant benefits of the expansion of hybrid vehicle technology and advanced electricity generation technology in terms of reducing emissions.

Global uptake of carbon capture and storage technologies in the electricity sector is also expected to be crucial in terms of reducing global emissions, according to ABARE.

“Global energy consumption and greenhouse gas emissions are projected to grow significantly in the future, driven by robust economic and population growth,” ABARE executive director Dr Brian Fisher said.

“Collaborative, multilateral technology agreements, such as the Asia Pacific Partnership on Clean Development and Climate, can play a key role in reducing emissions by increasing the development, uptake and transfer of clean technologies across a range of sectors.”

According to ABARE, growth in greenhouse gas emissions is inevitable and the expansion of clean technologies will serve only to reduce the growth rather than reduce overall emissions.

“In order to achieve emissions cuts greater than are analysed in ABARE’s report, concerted efforts by industry and government would be required to develop and transfer an additional portfolio of technologies across a wider range of sectors than has been analysed,” Dr Fisher said.

“Governments have a key role in establishing international policy environments conducive to the development and transfer of low emissions technologies across all sectors of significant economies, and that strategies and technologies for adaptation to climate change should become an increasingly important part of measures to address future climate change.”