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Multi-Gas Mitigation Analysis by IPAC

By recognizing the importance of non-CO2 gases mitigation for climate change abatement, modeling study for multi-gas scenarios was conducted by using IPAC model. This is also part of EMF-21 study for comparing the cost for CO2 mitigation and multi-gas mitigation. The main objective of this analysis is to evaluate the international potential and costs of non-CO2 greenhouse gas abatement. Three scenarios were defined by EMF-21 study including modeler reference, CO2 only mitigation scenario and multi-gas mitigation scenario. By comparing the results for the three scenarios, it is found that there is quite large potential for non-CO2 mitigation potential. Multi-gas mitigation policies could have lower cost compared with CO2 only mitigation policies. In order to reach same mitigation target level of GHG emission, there could be 30% lower carbon tax rate for multi-gas mitigation, and therefore GDP loss could be reduced by 23% in 2100. Multi-gas mitigation could give less pressure for energy system to transform.

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Energy Specializations: Energy Modeling – Other; Energy and the Environment – Climate Change and Greenhouse Gases; Energy and the Environment – Air Emissions (other than greenhouse gases); Energy and the Environment – Policy and Regulation

JEL Codes:
C59 - Econometric Modeling: Other
Q54 - Climate; Natural Disasters and Their Management; Global Warming
Q52 - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Multi-gas mitigation, IPAC model, GDP, Climate policy

DOI: 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI3-22

Published in Multi-Greenhouse Gas Mitigation and Climate Policy, Special Issue #3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.