This paper presents results from a total of 27 projects from the Finnish CLIMTECH technology program. These were used to investigate the prospects of greenhouse gas-mitigation technologies under Finnish conditions, including all emissions sources and all Kyoto gases. The estimated impacts of climate change on the energy system were also taken into account in the analysis. Systematic investments in technology development were found to yield substantial benefits in the long term by decreasing emissions reduction costs and by facilitating more ambitious reduction targets. Advanced biofuel production and utilization technologies, as well as offshore wind power, have proved to have the largest potential by the 2030s. Results also indicated a clear relationship between technological development and national emissions-trading patterns. (c) 2004 Elsevier Ltd. All rights reserved.