The goal of the Technology Investment Roadmap is to create a strategic and system-wide framework to accelerate and incite future investments in low emissions technologies. This plan aims to identify how emerging low emission technologies can be economic viable and replace old technologies, reducing overall GHG emissions. The Statement prioritises clean hydrogen, energy storage, low carbon materials, carbon capture and storage, and soil carbon measurement.
In May 2020, the Technology Investment Roadmap Discussion Paper was released for public consultation, followed by consultation processes with specific sectors in June-July. The document supports “technology neutrality”. It specifies that in Q3 of 2020, the first annual Low Emissions Technology Statement is to be delivered to Parliament so that the LongTerm Emissions Reduction Strategy can be released before COP26.