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Author: Krey, Volker × Subject: climate policy ×

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Now showing 1 - 2 of 2
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    Energy system developments and investments in the decisive decade for the Paris Agreement goals
    (Bristol : IOP Publ., 2021-6-29) Bertram, Christoph; Riahi, Keywan; Hilaire, Jérôme; Bosetti, Valentina; Drouet, Laurent; Fricko, Oliver; Malik, Aman; Pupo Nogueira, Larissa; van der Zwaan, Bob; van Ruijven, Bas; van Vuuren, Detlef; Weitzel, Matthias; Dalla Longa, Francesco; de Boer, Harmen-Sytze; Emmerling, Johannes; Fosse, Florian; Fragkiadakis, Kostas; Harmsen, Mathijs; Keramidas, Kimon; Kishimoto, Paul Natsuo; Kriegler, Elmar; Krey, Volker; Paroussos, Leonidas; Saygin, Deger; Vrontisi, Zoi; Luderer, Gunnar
    The Paris Agreement does not only stipulate to limit the global average temperature increase to well below 2 °C, it also calls for 'making finance flows consistent with a pathway towards low greenhouse gas emissions'. Consequently, there is an urgent need to understand the implications of climate targets for energy systems and quantify the associated investment requirements in the coming decade. A meaningful analysis must however consider the near-term mitigation requirements to avoid the overshoot of a temperature goal. It must also include the recently observed fast technological progress in key mitigation options. Here, we use a new and unique scenario ensemble that limit peak warming by construction and that stems from seven up-to-date integrated assessment models. This allows us to study the near-term implications of different limits to peak temperature increase under a consistent and up-to-date set of assumptions. We find that ambitious immediate action allows for limiting median warming outcomes to well below 2 °C in all models. By contrast, current nationally determined contributions for 2030 would add around 0.2 °C of peak warming, leading to an unavoidable transgression of 1.5 °C in all models, and 2 °C in some. In contrast to the incremental changes as foreseen by current plans, ambitious peak warming targets require decisive emission cuts until 2030, with the most substantial contribution to decarbonization coming from the power sector. Therefore, investments into low-carbon power generation need to increase beyond current levels to meet the Paris goals, especially for solar and wind technologies and related system enhancements for electricity transmission, distribution and storage. Estimates on absolute investment levels, up-scaling of other low-carbon power generation technologies and investment shares in less ambitious scenarios vary considerably across models. In scenarios limiting peak warming to below 2 °C, while coal is phased out quickly, oil and gas are still being used significantly until 2030, albeit at lower than current levels. This requires continued investments into existing oil and gas infrastructure, but investments into new fields in such scenarios might not be needed. The results show that credible and effective policy action is essential for ensuring efficient allocation of investments aligned with medium-term climate targets.
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    Carbon budgets and energy transition pathways
    (Bristol : IOP Publishing, 2016) van Vuuren, Detlef P.; van Soest, Heleen; Riahi, Keywan; Clarke, Leon; Krey, Volker; Kriegler, Elmar; Rogelj, Joeri; Schaeffer, Michiel; Tavoni, Massimo
    Scenarios from integrated assessment models can provide insights into how carbon budgets relate to other policy-relevant indicators by including information on how fast and by how much emissions can be reduced. Such indicators include the peak year of global emissions, the decarbonisation rate and the deployment of low-carbon technology. Here, we show typical values for these indicators for different carbon budgets, using the recently compiled IPCC scenario database, and discuss how these vary as a function of non-CO2 forcing, energy use and policy delay. For carbon budgets of 2000 GtCO2 and less over the 2010–2100 period, supply of low carbon technologies needs to be scaled up massively from today's levels, unless energy use is relatively low. For the subgroup of scenarios with a budget below 1000 GtCO2 (consistent with >66% chance of limiting global warming to below 2 °C relative to preindustrial levels), the 2050 contribution of low-carbon technologies is generally around 50%–75%, compared to less than 20% today (range refers to the 10–90th interval of available data).