Periodic Reporting for period 1 - PRISMA (NET ZERO PATHWAY RESEARCH THROUGH INTEGRATED ASSESSMENT MODEL ADVANCEMENTS)
Periodo di rendicontazione: 2023-01-01 al 2024-06-30
Context:
The ambition to achieve the Paris Agreement goals has led to the realization that a rapid and full decarbonization of the economy is required, involving a structural transition of the current economy and society. With the rise of quantified policy targets, policy packages, and consideration of multiple dimensions and sectors, Integrated Assessment Models with their ability to consider complex relationships and provide calibrated numerical results have become ever more important in the last decade.
The PRISMA project aims to bring these models to the next level by focusing on four key areas of improvement, namely the representation of distributional justice and efficiency, innovation and finance, climate impacts and land-use implications, and lifestyle change and circularity. In these four key areas we will improve existing large-scale IAMs and sectorial models, and consider the linking of different models where applicable. Two cross-cutting shared themes across these areas are the improvement of the temporal and spatial resolution of the analysis, and the representation of disruptive and structural change in the economy. Notably we will increase the spatial granularity with a focus on Europe, and look at the yearly and in particular near term detailed modeling of rapid decarbonization pathways.
The extensive model development will be co-designed through an interactive stakeholder engagement process from the beginning, and focus on model openness and usability to ensure the stakeholder and policy relevance. Moreover, PRISMA will focus in its application on the analysis of the spectrum of Fit for 55 package policies of the EU developing focalized robust and resilient Net zero pathways and assess the uncertainty around key variables and outcomes. PRISMA will also provide key insights to international climate assessments, a large number of open modelling tools and databases, including capacity building and dissemination activities for all countries.
General Objectives:
The PRISMA project aims to bring Integrated Assessment Models to the next level by focusing on four key areas of improvement, namely the representation of distributional justice and efficiency, innovation and finance, climate impacts and land-use implications, and lifestyle change and circularity. In these four key areas we will improve existing large-scale IAMs and sectorial models, and consider the linking of different models where applicable. Two cross-cutting shared themes across these areas are the improvement of the temporal and spatial resolution of the analysis, and the representation of disruptive and structural change in the economy. Notably we will increase the spatial granularity with a focus on Europe, and look at the yearly and in particular near term detailed modeling of rapid decarbonization pathways.
The ambition to achieve the Paris Agreement goals has led to the realization that a rapid and full decarbonization of the economy is required, involving a structural transition of the current economy and society. With the rise of quantified policy targets, policy packages, and consideration of multiple dimensions and sectors, Integrated Assessment Models with their ability to consider complex relationships and provide calibrated numerical results have become ever more important in the last decade.
The PRISMA project aims to bring these models to the next level by focusing on four key areas of improvement, namely the representation of distributional justice and efficiency, innovation and finance, climate impacts and land-use implications, and lifestyle change and circularity. In these four key areas we will improve existing large-scale IAMs and sectorial models, and consider the linking of different models where applicable. Two cross-cutting shared themes across these areas are the improvement of the temporal and spatial resolution of the analysis, and the representation of disruptive and structural change in the economy. Notably we will increase the spatial granularity with a focus on Europe, and look at the yearly and in particular near term detailed modeling of rapid decarbonization pathways.
The extensive model development will be co-designed through an interactive stakeholder engagement process from the beginning, and focus on model openness and usability to ensure the stakeholder and policy relevance. Moreover, PRISMA will focus in its application on the analysis of the spectrum of Fit for 55 package policies of the EU developing focalized robust and resilient Net zero pathways and assess the uncertainty around key variables and outcomes. PRISMA will also provide key insights to international climate assessments, a large number of open modelling tools and databases, including capacity building and dissemination activities for all countries.
General Objectives:
The PRISMA project aims to bring Integrated Assessment Models to the next level by focusing on four key areas of improvement, namely the representation of distributional justice and efficiency, innovation and finance, climate impacts and land-use implications, and lifestyle change and circularity. In these four key areas we will improve existing large-scale IAMs and sectorial models, and consider the linking of different models where applicable. Two cross-cutting shared themes across these areas are the improvement of the temporal and spatial resolution of the analysis, and the representation of disruptive and structural change in the economy. Notably we will increase the spatial granularity with a focus on Europe, and look at the yearly and in particular near term detailed modeling of rapid decarbonization pathways.
During the first 18 months, PRISMA has achieved the goals set in the Grant Agreement. Seven deliverables and eight Milestones have been submitted. PRISMA has addressed the 3 key project objectives of developing new modeling capabilities while rooting them in new empirical work and making models more robust and decision-relevant. The project's unique feature is matching a vast and diverse suite of modeling tools with new sources of data, both qualitative and quantitative, and making models trustworthy and relevant.
The model development has been informed by parallel advancements on the empirical front. A new datasets on cost of capital, material intensities, and other key variables for IAMs has been established and provided to the modelers. Social scientists working on lifestyle have used new data sources and surveys on human behaviour to calibrate a lifestyle change model. Meanwhile, intense stakeholder engagement activities have taken place, in order to ensure that the model developments are guided by a continuous confrontation with the key users of models. A launch event and five thematic workshops have taken place on subjects such as ‘Climate Finance’, ‘Citizens and behavioural change’, ‘Impacts of climate (in)action’,‘Biodiversity and biophysical impacts’, and ‘Sector-specific green transformations’.