Project description
Implications of shifting away from fossil fuels
Fossil fuels must stay underground for climate change to be tackled. While this is implicitly required under the 2015 Paris Agreement, it also implies stranding enormous amounts of fossil fuel resources and assets, which will impact big investors, debt financiers and governments. But research into these implications is limited. The EU-funded CLIFF project will address the role of big investors in leaving fossil fuels underground (LFFU), the North-South implications of LFFU, and the necessary measures to equitably allocate and accelerate the responsibilities of shareholders and stakeholders in energy transformation. Applying a comparative and transdisciplinary case study approach, the project team will combine institutional analysis with an innovative theoretical model for inclusive development.
Objective
To halt climate change, the 2015 Paris Agreement implicitly requires leaving fossil fuels (FF) underground (LFFU) and coherent financial flows. This implies stranding huge amounts of FF resources and assets (worth $16-300 trillion), affecting big investors: FF firms, shareholders (pension funds/philanthropies), debt financers (aid agencies/development banks) and governments. Research is scarce on big investors, the implications for developing countries with FF resources, and how LFFU can be equitably mobilized. Hence, CLIFF addresses the question: What is the role of big investors in leaving fossil fuels underground (LFFU), what are the North-South implications of LFFU and what measures can be taken by whom to equitably allocate and accelerate shareholder and stakeholder responsibility in energy transformation for inclusive development? LFFU has high stakes, disputed values, and urgency, so CLIFF combines institutional analysis and a theory of change for inclusive development (ICID) using a transdisciplinary, comparative case study approach. It has 4 substantive work packages: (a) a research protocol; (b) case studies on FF firms; pension funds; philanthropic foundations; aid agencies/development banks; developing countries with new FFs; (c) a geo-political analysis, and (d) an integrative analysis. CLIFF innovatively examines big investors and countries with new FF discoveries and growing vested interests in opposing climate policy implementation; and agents of change who address these vested interests (theory of change). CLIFF develops an innovative theoretical model (ICID) to analyse these actors and the changing North-South aspects, a CLIFF Interactive Atlas, and a Stranded Asset Index, co-creates equitable policy instruments; and assesses strategies of agents of change to make such climate policy instruments politically feasible and effective. Rather than Building Back Better from the COVID-19 pandemic, CLIFF strives for Catalysing Climate-resilient Change.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- medical and health sciences health sciences public health epidemiology pandemics
- engineering and technology environmental engineering energy and fuels
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.1. - EXCELLENT SCIENCE - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
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Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
ERC-ADG - Advanced Grant
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2020-ADG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
1012WX Amsterdam
Netherlands
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