Economics

An assessment of different transition pathways to a green global economy

S. Shayegh, S. Reissl, et al.

This research by Soheil Shayegh, Severin Reissl, Elnaz Roshan, and Matteo Calcaterra explores crucial pathways for the global economy's shift from fossil fuels to a low-emission sector. The findings emphasize the importance of capital formation and R&D investment in green productivity, analyzing Linear, Delayed, and Fast transition strategies.

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Abstract

This paper investigates alternative pathways for the global economy's transition from a fossil-fueled to a low-emission sector, modifying a climate change and economy integrated assessment model. Three transition pathways (Linear, Delayed, and Fast) are analyzed. Results show that capital formation, accumulation, and transfers, facilitated by full R&D investment in the green sector's productivity, are crucial. The Delayed pathway relies on higher green capital investment and increased green capital productivity via R&D, while the Fast pathway needs substantial capital transfers from the brown sector and high abatement efforts.

Publisher

Communications Earth & Environment

Published On

Nov 29, 2023

Authors

Soheil Shayegh, Severin Reissl, Elnaz Roshan, Matteo Calcaterra

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