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Tavoni M.,Fondazione Eni Enrico Mattei | Socolow R.,Princeton University
Climatic Change | Year: 2013

This article introduces the Climatic Change special issue dedicated to negative emissions technologies, also known as carbon dioxide removal (CDR) from the atmosphere. CDR is the only class of mitigation options able to reduce the carbon stock in the atmosphere significantly. In this special issue CDR is explored from the perspectives of integrated assessment, technology optimization, environmental science, and political science. © 2013 The Author(s). Source

Verdolini E.,Fondazione Eni Enrico Mattei | Galeotti M.,Bocconi University
Journal of Environmental Economics and Management | Year: 2011

This paper contributes to the induced innovation literature by extending the analysis of supply and demand determinants of innovation in energy technologies to account for international knowledge flows and spillovers. We select a sample of 38 innovating countries and study how knowledge related to energy-efficient and environmentally friendly technologies flows across geographical and technological space. We demonstrate that higher geographical and technological distances are associated with lower probabilities of knowledge flow. Next, we use previous estimates to construct internal and external knowledge stocks for a panel of 17 countries. We then present an econometric analysis of the supply and demand determinants of innovation accounting for international knowledge spillovers. Our results confirm the role of demand-pull effects, proxied by energy prices, and of technological opportunity, proxied by the knowledge stocks. Our results show that spillovers between countries have a significant positive impact on further innovation in energy-efficient and environmentally friendly technologies. © 2010 Elsevier Inc. Source

Athanassoglou S.,Fondazione Eni Enrico Mattei | Xepapadeas A.,Athens University of Economics and Business
Journal of Environmental Economics and Management | Year: 2012

The precautionary principle (PP) applied to environmental policy stipulates that, in the presence of uncertainty, society must take robust preventive action to guard against worst-case outcomes. It follows that the higher the degree of uncertainty, the more aggressive this preventive action should be. This normative maxim is explored in the case of a stylized dynamic model of pollution control with uncertain (in the Knightian sense) stock dynamics, using the robust control framework of Hansen and Sargent . [12]. Optimal investment in damage control is found to be increasing in the degree of uncertainty, thus confirming the conventional PP wisdom. Optimal mitigation decisions, however, need not always comport with the PP. In particular, when damage-control investment is both sufficiently cheap and sensitive to changes in uncertainty, damage-control investment and mitigation may act as substitutes and a PP with respect to the latter can be unambiguously irrational. The theoretical results are applied to a calibrated linear-quadratic model of climate change. The analysis suggests that a reversal of the PP with respect to mitigation, while theoretically possible, is very unlikely. © 2011 Elsevier Inc. Source

Bosetti V.,Fondazione Eni Enrico Mattei | Frankel J.,Harvard University
Review of Environmental Economics and Policy | Year: 2012

A new climate change treaty must address three current gaps: the absence of emissions targets extending far into the future; the absence of participation by the United States, China, and other developing countries; and the absence of reasons to expect compliance. Moreover, to be politically acceptable, a post-Kyoto treaty must recognize certain constraints regarding country-by-country economic costs. This article presents a framework for assigning quantitative emissions allocations across countries, one budget period at a time, through a two-stage plan: (a) China and other developing countries accept targets at business-as-usual (BAU) levels in the coming budget period, and, during the same period, the United States agrees to cuts below BAU; (b) all countries are asked to make further cuts in the future in accordance with a formula that includes a Progressive Reductions Factor, a Latecomer Catch-up Factor, and a Gradual Equalization Factor. An earlier proposal (Frankel 2009) for specific parameter values in the formulas achieved the environmental goal that carbon dioxide (CO 2) concentrations plateau at 500 ppm by 2100. It met our political constraints by keeping every country's economic cost below thresholds of Y = 1 percent of income in Present Discounted Value, and X = 5 percent of income in the worst period. The framework proposed in this article attains a stricter concentration goal of 460 ppm CO 2 but only by loosening the political constraints. © The Author 2011. Published by Oxford University Press on behalf of the Association of Environmental and Resource Economists. All rights reserved. Source

Blanford G.J.,EPRI | Kriegler E.,Potsdam Institute for Climate Impact Research | Tavoni M.,Fondazione Eni Enrico Mattei
Climatic Change | Year: 2014

This paper synthesizes results of the multi-model Energy Modeling Forum 27 (EMF27) with a focus on climate policy scenarios. The study included two harmonized long-term climate targets of 450 ppm CO2-e (enforced in 2100) and 550 pm CO2-e (not-to-exceed) as well as two more fragmented policies based on national and regional emissions targets. Stabilizing atmospheric GHG concentrations at 450 and 550 ppm CO2-e requires a dramatic reduction of carbon emissions compared to baseline levels. Mitigation pathways for the 450 CO2-e target are largely overlapping with the 550 CO2-e pathways in the first half of the century, and the lower level is achieved through rapid reductions in atmospheric concentrations in the second half of the century aided by negative anthropogenic carbon flows. A fragmented scenario designed to extrapolate current levels of ambition into the future falls short of the emissions reductions required under the harmonized targets. In a more aggressive scenario intended to capture a break from observed levels of stringency, emissions are still somewhat higher in the second half due to unabated emissions from non-participating countries, emphasizing that a phase-out of global emissions in the long term can only be reached with full global participation. A key finding is that a large range of energy-related CO2 emissions can be compatible with a given long-term target, depending on assumptions about carbon cycle response, non-CO2 and land use CO2 emissions abatement, partly explaining the spread in mitigation costs. © 2013 Springer Science+Business Media Dordrecht. Source

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