Objective
The objective of this project is to analyse the role of path dependence due to infrastructural lock-in and irreversible investment decisions for the design of optimal energy and climate policies. The project brings together several strands of economics research, namely macroeconomics, public economics, environmental and resource economics and risk and uncertainty, with climate change and energy economics into an integrated assessment. INFRACLIMATE is aimed to go beyond standard models designed to study energy and climate policies, by incorporating irreversible investment decisions, inertia in energy systems and possibility of underutilization of capital stocks. The project has three main objectives. Firstly, to carry out innovative research in the theoretical understanding of the interplay between irreversible investment decisions, high persistence in capital stocks and climate policies. Second, extending the existing Green Paradox literature by focusing on how the irreversibility of investment decisions affect the supply of fossil fuels, and thirdly, to develop a fully-fledged integrated assessment model of economy, energy and climate to quantify the effects of climate policies on investment decisions and the amount of stranded capital assets. A key ingredient of the analysis will be how various forms of uncertainty affect the interactions between investment decisions and climate policies. In doing so, the project will be able to provide a richer characterization of investment decisions and their interaction with energy and climate policies, and to quantify welfare effects of different policy options. INFRACLIMATE is a timely and highly policy relevant project given Europe’s pledges to emissions reductions, high infrastructural lock-ins in the extraction and power sector, and uncertainties about future technological innovations and government’s environmental policies.
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.
- social sciences economics and business economics macroeconomics
- natural sciences physical sciences theoretical physics particle physics
- engineering and technology environmental engineering energy and fuels
- natural sciences earth and related environmental sciences atmospheric sciences climatology climatic changes
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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.1.3. - EXCELLENT SCIENCE - Marie Skłodowska-Curie Actions
MAIN PROGRAMME
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H2020-EU.1.3.2. - Nurturing excellence by means of cross-border and cross-sector mobility
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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.
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.
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)
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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) H2020-MSCA-IF-2016
See all projects funded under this callCoordinator
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.
20123 Milano
Italy
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.