Marginal Abatement Cost Curves and the Optimal Timing of Mitigation Measures

Adrien Vogt-Schilb and Stephane Hallegatte

No 2013.89, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Decision makers facing abatement targets need to decide which abatement measures to implement, and in which order. Measure-explicit marginal abatement cost curves depict the cost and abating potential of available mitigation options. Using a simple intertemporal optimization model, we demonstrate why this information is not su_cient to design emission reduction strategies. Because the measures required to achieve ambitious emission reductions cannot be implemented overnight, the optimal strategy to reach a short-term target depends on longer-term targets. For instance, the best strategy to achieve European's -20% by 2020 target may be to implement some expensive, high-potential, and long-to-implement options required to meet the -75% by 2050 target. Using just the cheapest abatement options to reach the 2020 target can create a carbonintensive lock-in and make the 2050 target too expensive to reach. Designing mitigation policies requires information on the speed at which various measures to curb greenhouse gas emissions can be implemented, in addition to the information on the costs and potential of such measures provided by marginal abatement cost curves.

Keywords: Climate Change Mitigation, Dynamic Efficiency; Inertia, Sectoral Policies (search for similar items in EconPapers)
JEL-codes: L98 Q48 Q54 Q58 (search for similar items in EconPapers)
Date: 2013-10
New Economics Papers: this item is included in nep-ene and nep-env
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