Accelerating Climate Service Development for Renewable Energy, Finance and Cities

Kirsten Halsnæs, Lisa Bay, Mads Lykke Dømgaard, Per Skougaard Kaspersen and Morten Andreas Dahl Larsen
Additional contact information
Kirsten Halsnæs: Department of Technology, Management and Economics, Technical University of Denmark, Produktionstorvet, Building 424, 2800 Kgs Lyngby, Denmark
Lisa Bay: Department of Technology, Management and Economics, Technical University of Denmark, Produktionstorvet, Building 424, 2800 Kgs Lyngby, Denmark
Mads Lykke Dømgaard: Department of Technology, Management and Economics, Technical University of Denmark, Produktionstorvet, Building 424, 2800 Kgs Lyngby, Denmark
Per Skougaard Kaspersen: Department of Technology, Management and Economics, Technical University of Denmark, Produktionstorvet, Building 424, 2800 Kgs Lyngby, Denmark
Morten Andreas Dahl Larsen: Department of Technology, Management and Economics, Technical University of Denmark, Produktionstorvet, Building 424, 2800 Kgs Lyngby, Denmark

Sustainability, 2020, vol. 12, issue 18, 1-18

Abstract: Wider applications of climate services within the management of climate risks face significant challenges. This paper presents a forecasting approach, to assess the development trends in climate service needs and thereby potential demand in key sectors that are essential to the green solution and will face a general growth in activity and key climate vulnerabilities towards 2050. These sectors are renewable energy, international climate finance, and cities. The geographical scope focuses on Europe, but global trends are included. We here suggest scenarios for growth in future climate services based on baseline development trends and policy scenarios reflecting future low-emission and SDG targets. Barriers and specific needs for climate service development within these sectors are discussed, and alignment of supply and demand within the climate service market is particularly emphasized. We find that several complexities influence the climate service market, including policy frameworks aimed at facilitating climate risk management as well as a lack of fit between the supply and demand sides of the market. Other barriers include uncertainties related to available climate information and socioeconomic climate risk information. Based on the forecasting, we find that substantial benefits can be seen with increased climate service development and deployment across the three sectors.

Keywords: climate services markets; climate service forecasting and scenarios; climate services; climate service penetration; sustainable development goals; renewable energy Finance; city adaptation plans (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/12/18/7540/pdf (application/pdf)
https://www.mdpi.com/2071-1050/12/18/7540/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:18:p:7540-:d:412819

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().