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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 dioxide removal technologies are not born equal
    (Bristol : IOP Publ., 2021-7-1) Strefler, Jessica; Bauer, Nico; Humpenöder, Florian; Klein, David; Popp, Alexander; Kriegler, Elmar
    Technologies for carbon dioxide removal (CDR) from the atmosphere have been recognized as an important part of limiting warming to well below 2 °C called for in the Paris Agreement. However, many scenarios so far rely on bioenergy in combination with carbon capture and storage as the only CDR technology. Various other options have been proposed, but have scarcely been taken up in an integrated assessment of mitigation pathways. In this study we analyze a comprehensive portfolio of CDR options in terms of their regional and temporal deployment patterns in climate change mitigation pathways and the resulting challenges. We show that any CDR option with sufficient potential can reduce the economic costs of achieving the 1.5 °C target substantially without increasing the temperature overshoot. CDR helps to reduce net CO2 emissions faster and achieve carbon neutrality earlier. The regional distribution of CDR deployment in cost-effective mitigation pathways depends on which options are available. If only enhanced weathering of rocks on croplands or re- and afforestation are available, Latin America and Asia cover nearly all of global CDR deployment. Besides fairness and sustainability concerns, such a regional concentration would require large international transfers and thus strong international institutions. In our study, the full portfolio scenario is the most balanced from a regional perspective. This indicates that different CDR options should be developed such that all regions can contribute according to their regional potentials.