This thesis explores how to make the TRIPS Agreement a more efficient and effective instrument for facilitating innovation and transfer of ESTs, mainly through legal interpretative devices. Two main research questions will be addressed: First, whether and, if so, to what extent do the minimum IPR standards facilitate or inhibit innovation and transfer of ESTs? Second, whether and, if so, to what extent the TRIPS flexibilities can be interpreted to facilitate innovation and transfer of ESTs so as to address global climate change. Taking into account, inter alia, the WTO's sustainable development objective, the object and purpose of the TRIPS Agreement and relevant rules of international law, this thesis seeks to propose a balanced and pro-competitive interpretation of the relevant TRIPS provisions.