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European-Led Climate Policy Versus Global Mitigation Action: Implications on Trade, Technology, and Energy

Permanent URL:
http://handle.nal.usda.gov/10113/58453
File:
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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.
Author(s):
Enrica de Cian , Ilkka Keppo , Johannes Bollen , Samuel Carrara , Hannah Forester , Michael Hubler , Amit Kanudia , Sergey Paltsev , Ronald D. Sands , Katja Schumacher
Subject(s):
European Union , carbon markets , climate , cost analysis , energy , imports , issues and policy , laws and regulations , models , wind , Europe
Source:
Climate Change Economics 2013 v.4
Language:
English
Year:
2013
Collection:
Journal Articles, USDA Authors, Peer-Reviewed
Rights:
Works produced by employees of the U.S. Government as part of their official duties are not copyrighted within the U.S. The content of this document is not copyrighted.