Book: Climate Change Mitigation, Technological Innovation and Adaptation

Finally, the long-due book that summarizes work done with the integrated assessment model WITCH
Abstract and contributors below, more information and order form here.




Abstract

This book presents a rigorous yet accessible treatment of the main topics in climate change policy using a large body of research generated using WITCH (World Induced Technical Change Hybrid), an innovative and path-breaking integrated assessment model.

The authors give a particular emphasis to the analysis of technological change necessary to build low-carbon economies. The WITCH model can track all of the actions which impact the level of mitigation – such as R&D expenditures, investments in carbon-free technologies and adaptation, purchases of emission permits, or expenditures for carbon taxes – thus allowing for the evaluation of equilibrium responses stimulated by different climate policy tools. The chapters examine various questions to explore the future of climate change policy. Why is it so hard to achieve a global agreement that paves the way to widespread reductions of carbon dioxide and other greenhouse gas emissions? What are the technologies that would deliver clean energy without harming economic growth? And finally, how does uncertainty about future policies and future technologies affect choices in the present?

This innovative book will appeal to researchers, policy makers and academics interested in climate change policy.

Contributors: Valentina Bosetti, Carlo Carraro, Enrica De Cian, Thomas Longden, Emanuele Massetti, Lea Nicita, Fabio Sferra, Alessandra Sgobbi and Massimo Tavoni

IPCC WGIII Fifth Assessment Report: Investments and Cross Cutting Issues

The Fifth Assessment Report of the IPCC was approved on Sunday April 13th.

The Summary for Policy Makers is available here.

Not major findings in my opinion. Maybe, the most important part is on the 2°C temperature limit.

In a nutshell: we can keep global mean temperature below 2°C if 1) ALL countries start 2) NOW using 3) ALL technologies available (including CCS and nuclear) and accept to loose 1.7% (1.0% – 3.7%) of consumption in 2030, 3.4% (2.1% – 6.2%) nel 2050 and 4.8% (2.9% – 11.4%) in 2100. If we start late, costs increase quickly and many models show that the 2°C is not feasible. If we do not use CCS, costs increase by 138%. Not really new findings, but good to see the IPCC endorsing results in the serious literature.

In practice (this is my opinion, not the IPCC opinion), the 2°C is not attainable with present technologies, if we do not (quickly) collectively embrace the life of Saint Francis of Assisi. A few years ago Carlo Carraro and I wrote a column for Vox-EU titled "The improbable 2°C target" on why we should prepare for 2.5 or 3°C.

The Chapter for which I was Lead Author is on Investments and Cross Cutting Issues (Ch 16). For the first time the report provides estimates of investments in key mitigation technologies (See the Figure below for change of investments in 2010-2029).

There are not many studies in the literature with investment estimates. Carlo Carraro, Alice Favero and I co-authored one of the few studies in the literature that estimates investments in mitigation technologies. You find a copy here. Hopefully the authors of the next report will have more observations to build more robust estimates.

EAERE Summer School 2014 on the Economics of Adaptation to Climate Change

Robert Mendelsohn and I will co-ordinate the 2014 EAERE Summer School. The Summer School is aimed at Ph.D. students that are already writing a thesis on the economics of adaptation to climate change and want to engage into a highly interactive exchange with experts in the field. Students will be asked to present an advanced version of their research work and will receive valuable feedback from fellow students and from the School professors. Students will also be assigned a tutor that will provide individual feedback during consultation time.

School co-ordinators: Emanuele MASSETTI and Robert MENDELSOHN

• Brian HURD
  Professor of Agricultural Economics and Agricultural Business
  New Mexico State University
  Topic: Water


• Emanuele MASSETTI (School co-coordinator)
  Senior Researcher
  Fondazione Eni Enrico Mattei - FEEM
  Topic: Adaptation in Agriculture


• Robert MENDELSOHN (School co-coordinator)
  Sterling Professor of Economics
  Yale University
  Topic: Introduction and tropical cyclones


• Richard S. J. TOL
  Professor of Economics
  University of Sussex
  Topic: Sea level rise and Integrated assessment modeling


• Brent SOHNGEN
  Professor of Economics
  Ohio State University
  Topic: Forestry and Ecosystems

from http://virgo.unive.it

Back to FEEM after Post Doc at Yale

Back at FEEM for the third year of my Marie Curie Outgoing Fellowship after two wonderful years at Yale!

Postdoc at Yale

Starting from May 1st I will be Postdoctoral Fellow at the Yale School of Forestry & Environmental Studies. I will spend two years at Yale as part of the outgoing phase of the International Outgoing Marie Curie Fellowship that I received this year.