The Clean Energy R&D Strategy for 2°C

25 Pages Posted: 23 Nov 2013

See all articles by Giacomo Marangoni

Giacomo Marangoni

Fondazione Eni Enrico Mattei

Massimo Tavoni

Fondazione Eni Enrico Mattei (FEEM); Princeton University - Princeton Environmental Institute

Date Written: November 21, 2013

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

JEL Classification: Q55, Q58, Q48

Suggested Citation

Marangoni, Giacomo and Tavoni, Massimo, The Clean Energy R&D Strategy for 2°C (November 21, 2013). FEEM Working Paper No. 93.2013. Available at SSRN: https://ssrn.com/abstract=2357956 or http://dx.doi.org/10.2139/ssrn.2357956

Giacomo Marangoni (Contact Author)

Fondazione Eni Enrico Mattei ( email )

C.so Magenta 63
Milano, 20123
Italy

Massimo Tavoni

Fondazione Eni Enrico Mattei (FEEM) ( email )

Corso Magenta 63
20123 Milan
Italy

Princeton University - Princeton Environmental Institute

22 Chambers Street
Princeton, NJ 08544-0708
United States

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