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Finance and Innovation to couple Negative emissions and sustainable Development

Project description

Negative emission technology for a sustainable transition

Achieving the Paris Agreement objectives may require carbon dioxide removal, but current technologies are underdeveloped and carry risks. Understanding the potential for diffusion and the impacts of carbon removal methods is critical for future climate action. The ERC-funded FIND project aims to evaluate the feasibility and social desirability of limiting global warming through negative emission technologies. The project seeks to ensure that these technologies contribute to long-term sustainable development rather than impede it. By integrating various disciplines, it will provide evidence on carbon removal solutions. The project will also assess policies to support a rapid and sustainable transition to a net-zero society, aligning with Europe’s goal of carbon neutrality by 2050.

Objective

The FIND project will develop an innovative framework to assess the feasibility and social desirability of limiting global warming through the diffusion of negative emission technologies. Current global climate action is deeply insufficient to deliver the objectives of the Paris Agreement and containing global warming to 1.5 °C will likely require the deployment of carbon dioxide removals. However, the technologies to sequestrate and store carbon from the atmosphere are currently immature, risky, and highly questioned. Understanding the effective diffusion potential of carbon removal methods and their socioeconomic and environmental impacts is pivotal to design future climate action. The FIND project aims to ensure that negative emission technologies act as an enabler, not a barrier, of long-run sustainable development. It brings together different disciplines – namely, climate science, economics, innovation studies, climate finance, integrated assessment, and agent-based modelling - in a coherent and synergic whole. FIND is designed to provide breakthrough evidence about two crucial and under-investigated aspects of carbon removal solutions: (i) how their techno-economic paradigms evolve and relate to the broader technological landscape, and (ii) how immature and uncertain technologies can be financed to provide social value rather than speculative interest. By combing innovation, finance, and political economy into a quantitative theory of carbon removal operationalization unfolding at global scale, FIND will expand the state-of-the-art in climate-energy-economy modelling and reassess decarbonization pathways. The project will evaluate climate and non-climate policies to create robust, no-regret policy portfolios supporting a rapid and sustainable path to a net-zero society. FIND will be of high relevance for public policy and civil society, especially considering Europe’s commitment to reach carbon neutrality by 2050 while spurring green and inclusive growth.

Keywords

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Programme(s)

Multi-annual funding programmes that define the EU’s priorities for research and innovation.

Topic(s)

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.

HORIZON-ERC - HORIZON ERC Grants

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) ERC-2023-STG

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Host institution

SCUOLA SUPERIORE DI STUDI UNIVERSITARI E DI PERFEZIONAMENTO S ANNA
Net EU contribution

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.

€ 1 124 375,00
Address
PIAZZA MARTIRI DELLA LIBERTA 33
56127 PISA
Italy

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Region
Centro (IT) Toscana Pisa
Activity type
Higher or Secondary Education Establishments
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Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 1 124 375,00

Beneficiaries (2)

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