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Low Stabilization Scenarios and Implications for Major World Regions from an Integrated Assessment Perspective

Abstract:
In order to limit global mean temperature increase to less than 2�C, long-term greenhouse gas concentrations must remain low. This paper discusses how such low concentrations can be reached, based on results from the IMAGE modelling framework (including TIMER and FAIR). We show that the attainability of low greenhouse gas concentration targets, in particular 450 and 400 ppm CO2 equivalent critically depends on model assumptions, such as bio-energy potentials. Under standard model assumptions, these targets can be reached, although the lowest requires the use of bio-energy in combination with carbon-capture-and-storage. Regions are affected differently by ambitious climate policies in terms of energy and land use, although stringent emission reductions will be required in all regions. Resulting co-benefits of climate policy (such as energy security and air pollution) are also different across world regions.

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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: IMAGE model, TIMER, FAIR, Climate policy, Carbon capture and storage, GHG emissions

DOI: 10.5547/ISSN0195-6574-EJ-Vol31-NoSI-7

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Published in Volume 31, Special Issue of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.