Timing of Mitigation and Technology Availability in Achieving a Low-Carbon World |
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Authors: | Valentina Bosetti Carlo Carraro Massimo Tavoni |
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Institution: | (1) PBL Netherlands Environmental Assessment Agency, PO BOX 303, 3720 BA Bilthoven, The Netherlands;(2) Department of Geography, Utrecht University, Utrecht, The Netherlands |
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Abstract: | This paper analyzes the economic and investment implications of a series of climate mitigation scenarios, characterized by
different levels of ambition for long-term stabilization goals and transitional pathways. Results indicate that although milder
climate objectives can be achieved at moderate costs, stringent stabilization paths, compatible with the 2°C target, might
require significant economic resources. Innovation and technology are shown to be able to mitigate, but not structurally alter,
this trade-off. Technologies that allow capturing CO2 from the atmosphere are shown to be important for expanding the feasibility space of stringent climate policies, though only
if deployed at a scale which would represent a tremendous challenge. In general, the analysis indicates that the timing of
mitigation is an important factor of cost containment, with early action being desirable. It also elaborates on the set of
mitigation strategies and policies that would be required to achieve climate protection at maximum efficiency. |
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