How can technology significantly contribute to climate change mitigation?

Claire Alestra, Gilbert Cette, Valérie Chouard and Rémy Lecat
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Claire Alestra: AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper highlights how technology can contribute to reaching the 2015 Paris Agreement goals of net zero carbon dioxide (CO2) emissions and global warming below 2°C in 2100. It uses the Advanced Climate Change Long-term model (ACCL), particularly adapted to quantify the consequences of energy price and technology shocks on CO2 emissions, temperature, climate damage and Gross Domestic Product (GDP). The simulations show that without climate policies the warming may be +5°C in 2100, with considerable climate damage. An acceleration in ‘usual' technical progress not targeted at reducing CO2- even worsens global warming and climate damage. According to our estimates, the world does not achieve climate goals in 2100 without ‘green' technologies. Intervening only via energy prices, e.g. a carbon tax, requires challenging hypotheses of international coordination and price increase for polluting energies. We assess a multi-lever climate strategy combining energy efficiency gains, carbon sequestration, and a decrease of 3% per year in the relative price of ‘clean' electricity with a 1 to 1.5% annual rise in the relative price of polluting energy sources. None of these components alone is sufficient to reach climate objectives. Our last and most important finding is that our composite scenario achieves the climate goals.

Keywords: Climate; Global warming; Technology; Environmental policy; Growth; Long-term projections (search for similar items in EconPapers)
Date: 2024
Note: View the original document on HAL open archive server: https://amu.hal.science/hal-04184412v1
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Published in Applied Economics, In press, 56 (41), ⟨10.1080/00036846.2023.2227416⟩

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Related works:
Journal Article: How can technology significantly contribute to climate change mitigation? (2024)
Working Paper: How can technology significantly contribute to climate change mitigation? (2023)
Working Paper: How Can Technology Significantly Contribute to Climate Change Mitigation? (2023)
Working Paper: How can technology significantly contribute to climate change mitigation? (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04184412

DOI: 10.1080/00036846.2023.2227416

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