Transitioning to a low-carbon economy will require significant investment to transform energy systems, alter the built environment and adapt infrastructure. A strategy to finance this investment is needed if the limit of a 2°C increase in global mean temperatures is to be respected. Also,...

The Energy Modeling Forum 28 (EMF28) study systematically explores the energy system transition required to meet the European goal of reducing greenhouse gas (GHG) emissions by 80% by 2050. The 80% scenario is compared to a reference case that aims to achieve a 40% GHG reduction target. The...

This study presents an internal modification of a dynamic computable general equilibrium model, ICES, employing inputs from a partial equilibrium model for the agricultural sector, VALUE. The aim is to quantify and analyze the medium-term socio-economic consequences of projected climate change....

We present a model of technological adaptation in response to a change in climate conditions. The main feature of the model is that new technologies are not just risky, but also ambiguous. Pessimistic agents are thus averse to adopting a new technology. Learning is induced by optimists, who are...

The levels of investment needed to mobilize an energy system transformation and mitigate climate change are not known with certainty. This paper aims to inform the ongoing dialogue and in so doing to guide public policy and strategic corporate decision making. Within the framework of the LIMITS...

This paper provides a novel and comprehensive model-based assessment of possible outcomes of the Durban Platform negotiations with a focus on emissions reduction requirements, the consistency with the 2°C target and global economic impacts. The Durban Platform scenarios investigated in the...

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...

In this paper, we examine the relationship between CO2 and SO2 (including carbonaceous aerosols) mitigations in a framework of correlated global and local externalities. The framework is set up in a revised RICE model [Nordhaus, WD and Z Yang (1996). A regional dynamic general-equilibrium model...

The feasibility of achieving climate stabilization consistent with the objective of 2°C is heavily influenced by how the effort in terms of mitigation and economic resources will be distributed among the major economies. This paper provides a multi-model quantification of the mitigation...

An econometric land-use model is used to project regional and national land-use changes in the United States under two IPCC emissions scenarios. The key driver of land-use change in the model is county-level measures of net returns to five major land uses. The net returns are modified for the...