1. Paris Agreement requires substantial, broad, and sustained policy efforts beyond COVID-19 public stimulus packages
- Author
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Katsumasa Tanaka, Christian Azar, Olivier Boucher, Philippe Ciais, Yann Gaucher, Daniel J. A. Johansson, Laboratoire des Sciences du Climat et de l'Environnement [Gif-sur-Yvette] (LSCE), Université de Versailles Saint-Quentin-en-Yvelines (UVSQ)-Commissariat à l'énergie atomique et aux énergies alternatives (CEA)-Institut national des sciences de l'Univers (INSU - CNRS)-Université Paris-Saclay-Centre National de la Recherche Scientifique (CNRS), National Institute for Environmental Studies (NIES), Institut Pierre-Simon-Laplace (IPSL (FR_636)), École normale supérieure - Paris (ENS-PSL), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Université de Versailles Saint-Quentin-en-Yvelines (UVSQ)-Commissariat à l'énergie atomique et aux énergies alternatives (CEA)-Institut national des sciences de l'Univers (INSU - CNRS)-École polytechnique (X)-Centre National d'Études Spatiales [Toulouse] (CNES)-Sorbonne Université (SU)-Centre National de la Recherche Scientifique (CNRS)-Université Paris Cité (UPCité), Chalmers University of Technology [Gothenburg, Sweden], K.T. benefited from State assistance managed by the National Research Agency in France under the Programme d’Investissements d’Avenir under the reference ANR-19-MPGA-0008. K.T. was supported by the Environment Research and Technology Development Fund (JPMEERF20202002) of the Environmental Restoration and Conservation Agency (Japan). D.J.A.J. acknowledges Mistra for funding through the research program Mistra Carbon Exit. C.A. acknowledges financial support from Mistra Electric Transition, Carl Bennet Foundation AB, and Åforsk foundation. Y.G. acknowledges financial support from the programme FOCUS - Economie Circulaire du Carbone at the Commissariat à l'énergie atomique et aux énergies alternatives (CEA), France., and ANR-19-MPGA-0008,PRATO,Achieving the Paris Agreement Temperature Targets after Overshoot(2019)
- Subjects
[SDU.OCEAN]Sciences of the Universe [physics]/Ocean, Atmosphere ,Physics - Physics and Society ,Atmospheric Science ,Global and Planetary Change ,General Economics (econ.GN) ,COVID-19 ,FOS: Physical sciences ,Paris Agreement ,Physics and Society (physics.soc-ph) ,FOS: Economics and business ,Integrated assessment models ,Carbon pricing ,Energy investment ,[SDU.ENVI]Sciences of the Universe [physics]/Continental interfaces, environment ,Green stimulus packages ,Economics - General Economics - Abstract
It has been claimed that COVID-19 public stimulus packages could be sufficient to meet the short-term energy investment needs to leverage a shift toward a pathway consistent with the 1.5 °C target of the Paris Agreement. Here, we provide complementary perspectives to reiterate that substantial, broad, and sustained policy efforts beyond stimulus packages will be needed for achieving the Paris Agreement long-term targets. Low-carbon investments will need to scale up and persist over the next several decades following short-term stimulus packages. The required total energy investments in the real world can be larger than the currently available estimates from integrated assessment models (IAMs). Existing databases from IAMs are not sufficient for analyzing the effect of public spending on emission reduction. To inform what role COVID-19 stimulus packages and public investments may play for reaching the Paris Agreement targets, explicit modelling of such policies is required.
- Published
- 2022