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Does economic convergence challenge global climate goals?

Author

Listed:
  • Claire Alestra

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Gilbert Cette

    (NEOMA - Neoma Business School)

  • Valérie Chouard

    (Banque de France - Banque de France - Banque de France)

  • Rémy Lecat

    (Banque de France - Banque de France - Banque de France)

Abstract

We employ the ACCL model for climate policy simulation to investigate the feasibility of achieving climate targets in the context of global economic convergence. Our findings indicate that, in a scenario with moderate economic convergence, the world does not reach these targets solely with ambitious, although realistic, energy price policies. Our estimates underscore the importance of combining global carbon taxation with the widespread deployment of green technologies to help reconcile economic convergence and climate objectives. Hence, initiatives that focus on accelerating the global energy transition and supporting its implementation in low- and middle-income countries are crucial with regard to this challenge.

Suggested Citation

  • Claire Alestra & Gilbert Cette & Valérie Chouard & Rémy Lecat, 2024. "Does economic convergence challenge global climate goals?," PSE Working Papers halshs-04743613, HAL.
    • Handle: RePEc:hal:psewpa:halshs-04743613
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04743613v1
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    File URL: https://shs.hal.science/halshs-04743613v1/document
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