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

  • Enrica De Cian

    (Fondazione Eni Enrico Mattei (FEEM), Italy and Euro-Mediterranean Center on Climate Change (CMCC), Italy)

  • Ilkka Keppo

    (University College London, UCL Energy Institute, UK)

  • Johannes Bollen

    (CPB, Den Haag, Netherlands)

  • Samuel Carrara

    (Fondazione Eni Enrico Mattei (FEEM), Italy and Euro-Mediterranean Center on Climate Change (CMCC), Italy)

  • Hannah Förster

    (Öko-Institut, Germany)

  • Michael Hübler

    (Centre for European Economic Research (ZEW), Mannheim, Germany)

  • Amit Kanudia

    (KanORS-EMR, New Delhi, India)

  • Sergey Paltsev

    (Massachusetts Institute of Technology (MIT), Joint Program on the Science and Policy of Global Change, US)

  • Ronald Sands

    (U.S. Department of Agriculture, Economic Research Service, USA)

  • Katja Schumacher

    (Öko-Institut, Germany)

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.

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Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2014.30.

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Date of creation: Mar 2014
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Handle: RePEc:fem:femwpa:2014.30
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  1. Brigitte Knopf & Yen-Heng Henry Chen & Enrica De Cian & Hannah Förster & Amit Kanudia & Ioanna Karkatsouli & Ilkka Keppo & Tiina Koljonen & Katja Schumacher & Detlef P. Van Vuuren, 2013. "Beyond 2020 — Strategies And Costs For Transforming The European Energy System," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 4(su), pages 1340001-1-1.
  2. Böhringer, Christoph & Balistreri, Edward J. & Rutherford, Thomas F., 2012. "The role of border carbon adjustment in unilateral climate policy: Overview of an Energy Modeling Forum study (EMF 29)," Energy Economics, Elsevier, vol. 34(S2), pages S97-S110.
  3. Gernot Klepper & Sonja Peterson, 2005. "Emissions Trading, CDM, JI, and More ; The Climate Strategy of the EU," Kiel Working Papers 1238, Kiel Institute for the World Economy.
  4. Hübler, Michael & Löschel, Andreas, 2012. "The EU decarbonisation roadmap 2050: What way to walk?," ZEW Discussion Papers 12-055, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  5. Johannes Bollen & Arjen Gielen & Hans Timmer, 1999. "Clubs, Ceilings and CDM: Macroeconomics of Compliance with the Kyoto Protocol," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 177-206.
  6. Carraro, Carlo & De Cian, Enrica & Nicita, Lea & Massetti, Emanuele & Verdolini, Elena, 2010. "Environmental Policy and Technical Change: A Survey," International Review of Environmental and Resource Economics, now publishers, vol. 4(2), pages 163-219, October.
  7. Paltsev, Sergey & Jacoby, Henry D. & Reilly, John M. & Ejaz, Qudsia J. & Morris, Jennifer & O'Sullivan, Francis & Rausch, Sebastian & Winchester, Niven & Kragha, Oghenerume, 2011. "The future of U.S. natural gas production, use, and trade," Energy Policy, Elsevier, vol. 39(9), pages 5309-5321, September.
  8. Valentina Bosetti & Enrica De Cian, 2013. "A Good Opening: The Key to Make the Most of Unilateral Climate Action," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 56(2), pages 255-276, October.
  9. Ang, B. W., 2005. "The LMDI approach to decomposition analysis: a practical guide," Energy Policy, Elsevier, vol. 33(7), pages 867-871, May.
  10. Criqui, Patrick & Mima, Silvana, 2012. "European climate—energy security nexus: A model based scenario analysis," Energy Policy, Elsevier, vol. 41(C), pages 827-842.
  11. Patrick Criqui & Silvana Mima, 2012. "European climate -- energy security nexus: A model based scenario analysis," Post-Print halshs-00661043, HAL.
  12. Koljonen, Tiina & Lehtilä, Antti, 2012. "The impact of residential, commercial, and transport energy demand uncertainties in Asia on climate change mitigation," Energy Economics, Elsevier, vol. 34(S3), pages S410-S420.
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