An international research consortium is developing economic models and policies to facilitate the transition towards a zero-carbon economy.
Carbon concentration due to global greenhouse gas emissions continues to rise at an alarming rate, according to climatologists. It contributes to the phenomenon of climate change. Meanwhile, Member States of the European Union (EU) have coordinated their efforts to mitigate the effects of climate change in a policy package – the European Green Deal. It follows the adoption of the 2015 Paris Agreement, for which countries have to adopt concrete measures to fulfil their commitment.
Through their policies, European Member States have adopted measures to mitigate climate change causes. These measures concern the reduction of greenhouse gas emissions, the increase in the use of renewable energy, and the improvement of energy efficiency. Also, they support adaptation measures to limit the adverse costs of actual and anticipated impacts such as floods, droughts, and extreme weather events.
High economic costs can arise from climate change and policies that respond to it. Therefore, economic modelling provides policymakers with valuable insights into their policies. What are the economic and distributional impacts of climate change? Are policies economically efficient and politically viable? How can technological and social innovations contribute to the solution?
Sustainable Development Goals (SDGs)
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals
The Global Excellence in Modelling Climate and Energy Policies (GEOCEP) project
The GEOCEP project tackles these questions. It will create a new generation of models, on both European and global scales, with the contribution of other social and natural sciences models. It will lead to comparisons of modelling approaches ranging from partial equilibrium to econometric and macroeconomic modelling tools. The project divides the research into four parts.
Social and technological innovation
- Model of the adaptive behaviour of consumers and firms to minimise the adverse effects of climate change
- Modelling energy demand and determinants of energy savings
- New business and services models of environmentally friendly and energy-efficient production and consumption
Integrated and hybrid modelling
- Development of hybrid models, including linked bottom-up and top-down models such as CGE-TIMES
- Energy system modelling of renewable energy resources, in particular solar, wind, bioenergy, and biofuels
- Impact of public policies such as carbon taxes, feed-in tariffs, flexible emission mechanisms
Health and environmental impacts
- Economic assessment of extreme events related to climate change, such as hurricanes, droughts, floods, wildfires
- Economic valuations of health effects caused by energy and emission-reduction activities
- Identification of the impacts on three interlinked supply securities of energy, water, and food
Institutions and economic development
- Examination of potential for co-operation in international environmental negotiations
- Analysis of the distributive consequences of climate change impact and mitigation policies
- Policy recommendations on private sector risk management strategies, risk assessment, and risk insurance
European Union policies
GEOCEP connects well with the recent European Union climate and energy policies. Indeed, the research outcome will be highly pertinent to the 2030 climate and energy framework, which identifies targets and policy objectives to be achieved by 2030. This framework set at least 55% cuts in greenhouse gas emissions (from 1990 levels), a 32% share for renewable energy, and 32.5% improvement in energy efficiency.
The research will also be relevant to several policy areas of the European Green Deal. This deal has ambitious objectives, such as making the European Union climate-neutral by 2050, having higher energy-efficient buildings, and generating clean energy.
Research carried out by GEOCEP will be essential in assessing European climate-related policy instruments, addressing the issue of fossil fuel subsidies and tax breaks, and proposing decisions on sustainable mobility, among others.
SDGs, Targets, and Indicators
SDGs Addressed in the Article:
- Sustainable Development Goal 7: Affordable and Clean Energy
- Sustainable Development Goal 9: Industry, Innovation and Infrastructure
- Sustainable Development Goal 11: Sustainable Cities and Communities
- Sustainable Development Goal 13: Climate Action
- Sustainable Development Goal 17: Partnerships for the Goals
Targets Identified Based on the Article’s Content:
- Target 7.2: Increase substantially the share of renewable energy in the global energy mix
- Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
- Target 11.2: Provide access to safe, affordable, accessible and sustainable transport systems for all
- Target 13.2: Integrate climate change measures into national policies, strategies and planning
- Target 17.16: Enhance the global partnership for sustainable development
Indicators Mentioned or Implied in the Article:
- Indicator for Target 7.2: Share of renewable energy in the total final energy consumption
- Indicator for Target 9.4: Proportion of industries with sustainable practices
- Indicator for Target 11.2: Proportion of population that has convenient access to public transport
- Indicator for Target 13.2: Number of countries that have integrated climate change measures into national policies, strategies and planning
- Indicator for Target 17.16: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| Sustainable Development Goal 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix | Share of renewable energy in the total final energy consumption |
| Sustainable Development Goal 9: Industry, Innovation and Infrastructure | Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | Proportion of industries with sustainable practices |
| Sustainable Development Goal 11: Sustainable Cities and Communities | Target 11.2: Provide access to safe, affordable, accessible and sustainable transport systems for all | Proportion of population that has convenient access to public transport |
| Sustainable Development Goal 13: Climate Action | Target 13.2: Integrate climate change measures into national policies, strategies and planning | Number of countries that have integrated climate change measures into national policies, strategies and planning |
| Sustainable Development Goal 17: Partnerships for the Goals | Target 17.16: Enhance the global partnership for sustainable development | Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks |
Explanation:
– The article discusses the transition towards a zero-carbon economy and the policies adopted by European Member States to mitigate climate change. These issues are directly connected to Sustainable Development Goal 7 (Affordable and Clean Energy), Sustainable Development Goal 9 (Industry, Innovation and Infrastructure), Sustainable Development Goal 11 (Sustainable Cities and Communities), Sustainable Development Goal 13 (Climate Action), and Sustainable Development Goal 17 (Partnerships for the Goals).
– Based on the content of the article, specific targets under these SDGs can be identified. For example, Target 7.2 aims to increase the share of renewable energy in the global energy mix, Target 9.4 focuses on upgrading infrastructure and retrofitting industries to make them sustainable, Target 11.2 aims to provide access to safe and sustainable transport systems, Target 13.2 emphasizes the integration of climate change measures into national policies, and Target 17.16 aims to enhance global partnerships for sustainable development.
– The article mentions or implies several indicators that can be used to measure progress towards the identified targets. For example, the share of renewable energy in the total final energy consumption can be used as an indicator for Target 7.2, the proportion of industries with sustainable practices can be used as an indicator for Target 9.4, the proportion of population with convenient access to public transport can be used as an indicator for Target 11.2, the number of countries that have integrated climate change measures into national policies can be used as an indicator for Target 13.2, and the number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks can be used as an indicator for Target 17.16.
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Source: innovationnewsnetwork.com
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