Environmental Studies and Forestry

A research and development investment strategy to achieve the Paris climate agreement

L. A. Reis, Z. Vrontisi, et al.

This research conducted by Lara Aleluia Reis, Zoi Vrontisi, Elena Verdolini, Kostas Fragkiadakis, and Massimo Tavoni reveals how timely R&D investments can reduce mitigation costs and enhance job creation in the fight against climate change. To meet 2°C and 1.5°C targets, significant boosts in low-carbon R&D investment are necessary, achievable through carbon revenues. Dive into the findings that could reshape our approach to climate stabilization!

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Abstract

This paper investigates R&D investment pathways aligned with climate stabilization goals, linking two integrated assessment models (WITCH and GEM-E3). Focusing on five low-carbon technologies and energy efficiency, the study finds that timely R&D investment lowers mitigation costs and boosts employment. Achieving the 2°C (1.5°C) target requires an 18% (64%) increase in cumulative low-carbon R&D investment by mid-century. Carbon revenues are sufficient to finance this additional R&D and reduce distortionary taxation, further enhancing job creation.

Publisher

Nature Communications

Published On

Jun 16, 2023

Authors

Lara Aleluia Reis, Zoi Vrontisi, Elena Verdolini, Kostas Fragkiadakis, Massimo Tavoni

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