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Probability of Achieving NDC and Implications for Climate Policy: CO-STIRPAT Approach

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  • Ick Jin

    (Director General, Economic Analysis Department of the National Assembly Budget Office, Seoul, Korea)

Abstract

This paper presents an analytical framework to assess the probability of achieving nationally determined contributions (NDC). The prediction model based on the Kaya identity is used to simulate the pathway of carbon emission until the target year. Applying the modified STIRPAT framework (named CO-STIRPAT) to data observed in South Korea shows that the probability that the predicted pathway with existing climate technology will stay above the NDC target pathway is significantly high. The result suggests that it is necessary to design a climate policy to improve energy intensity and carbon intensity by accelerating the advance in climate technology.

Suggested Citation

  • Ick Jin, 2023. "Probability of Achieving NDC and Implications for Climate Policy: CO-STIRPAT Approach," Journal of Economic Analysis, Anser Press, vol. 2(4), pages 82-97, June.
    • Handle: RePEc:bba:j00001:v:2:y:2023:i:4:p:82-97:d:60
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    References listed on IDEAS

    as
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    Cited by:

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    2. Li, Hongmei & Xu, Ruizhe, 2023. "Impact of fiscal policies and natural resources on ecological sustainability of BRICS region: Moderating role of green innovation and ecological governance," Resources Policy, Elsevier, vol. 85(PB).

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