EUROPEAN-LED CLIMATE POLICY VERSUS GLOBAL MITIGATION ACTION: IMPLICATIONS ON TRADE, TECHNOLOGY, AND ENERGY

Enrica De Cian (), Ilkka Keppo, Johannes Bollen, Samuel Carrara, Hannah Förster, Michael Hübler, Amit Kanudia, Sergey Paltsev, Ronald Sands () and Katja Schumacher
Additional contact information
Ilkka Keppo: University College London, UCL Energy Institute, 14 Upper Woburn Place, London, WC1H 0NN, UK
Johannes Bollen: Centraal Planbureau t.a.v. Johannes Bollen, P. O. Box 80510, 2508 GM, The Hague, The Netherlands
Samuel Carrara: Fondazione Eni Enrico Mattei (FEEM), Euro-Mediterranean Center on Climate Change (CMCC), Isola di San Giorgio Maggiore, 30124 Venezia, Italy
Hannah Förster: Öko-Institut, Germany, Schicklerstraße 5-7, 10179 Berlin, Germany
Amit Kanudia: KanORS-EMR, SDF L-7B, NSEZ, Dadri Road Phase II, Noida UP 201305, India
Sergey Paltsev: Massachusetts Institute of Technology, 77 Massachusetts Ave, E19-411, Cambridge, MA 02139, USA
Katja Schumacher: Öko-Institut, Germany, Schicklerstraße 5-7, 10179 Berlin, Germany

Climate Change Economics (CCE), 2013, vol. 04, issue supp0, 1-28

Abstract: This paper examines how changes in an international climate regime would affect the European decarbonization strategy and costs through the mechanisms of trade, technology, and innovation. We present the results from the Energy Modeling Forum (EMF) model comparison study on European climate policy to 2050. Moving from a no-policy scenario to an existing-policies case reduces all energy imports, on average. Introducing a more stringent climate policy target for the EU only leads to slightly greater global emission reductions. Consumers and producers in Europe bear most of the additional burden and inevitably face some economic losses. More ambitious mitigation action outside Europe, especially when paired with a well-operating global carbon market, could reduce the burden for Europe significantly. Because of global learning, the costs of wind and especially solar-PV in Europe would decline below the levels observed in the existing-policy case and increased R&D spending outside the EU would leverage EU R&D investments as well.

Keywords: Climate change; stabilization policy; international participation (search for similar items in EconPapers)
Date: 2013
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Working Paper: European-Led Climate Policy Versus Global Mitigation Action. Implications on Trade, Technology, and Energy (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:ccexxx:v:04:y:2013:i:supp0:n:s2010007813400022

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DOI: 10.1142/S2010007813400022

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