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Overcoming the financial barrier to a low emission development strategy in Brazil.

Authors :
La Rovere, E.L.
Grottera, C.
Wills, W.
Source :
International Economics (2110-7017); Oct2018, Vol. 155, p61-68, 8p
Publication Year :
2018

Abstract

This paper presents two low GHG emission scenarios for Brazil up to 2050, and discusses the impact in the implementation of a deep decarbonization scenario of a financial device allowing for decreasing capital costs of mitigation investments. Specifically, we consider (i) a governmental plan scenario assuming the achievement of NDC targets up to 2030 and the extension of current policies up to 2050; and (ii) a deep decarbonization scenario leading to a national GHG emission pathway compatible with an international effort targeted to stabilize the global temperature at 1.5 °C above pre-industrial levels. We present a comparative analysis of the scenario results for key economic and social indicators, and simulate the adoption of a new financial device allowing to decrease capital costs of low carbon investments in Brazil. Our conclusions highlight the potential of innovative financial mechanisms to foster the transition to a low carbon society in developing countries, as illustrated in the case of Brazil. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
21107017
Volume :
155
Database :
Supplemental Index
Journal :
International Economics (2110-7017)
Publication Type :
Academic Journal
Accession number :
131469386
Full Text :
https://doi.org/10.1016/j.inteco.2017.12.004