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The Clean Energy R&D Strategy for 2°C

Giacomo Marangoni and Massimo Tavoni
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Giacomo Marangoni: Fondazione Eni Enrico Mattei (FEEM) and Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC), Italy
Massimo Tavoni: Fondazione Eni Enrico Mattei (FEEM) and Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC), Italy

No 2013.93, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This paper uses an integrated assessment model to quantify the climate R&D investment strategy for a variety of scenarios fully consistent with 2°C. We estimate the total climate R&D investment needs in approximately 1 USD Trillion cumulatively in the period 2010-2030, and 1.6 USD Trillions in the period 2030-2050. Most of the R&D would be carried out in industrialized countries initially, but would be evenly split after 2030. We also assess a ‘climate R&D deal’ in which countries cooperate on innovation in the short term, and find that an R&D agreement slightly underperforms a climate policy based on the extension of the Copenhagen pledges till 2030. Both policies are inferior to full cooperation on mitigation starting in 2020. A global agreement on clean energy innovation beyond 2030 without sufficiently stringent GHG emissions reduction policies is found to be incompatible with 2°C.

Keywords: Clean Energy R&D; Endogenous Technical Change; Climate Policy; 2 Degrees; Durban Action Platform (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-env
Date: 2013-11
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