Periodic Reporting for period 1 - GEOCEP (Global Excellence in Modeling Climate and Energy Policies)
Période du rapport: 2022-02-01 au 2024-01-31
An international consortium of world-class research institutions is tackling one of today's most pressing issues: the environmental crisis caused by climate change and the policy responses needed to mitigate and adapt to it. The Global Excellence in Modelling Climate and Energy Policies (GEOCEP) project aims to establish an international network for knowledge exchange and research on climate change and energy policy modelling. The research is creating, improving, and testing quantitative models to assess the impact of climate change mitigation and adaptation policies from a multidisciplinary standpoint, specifically combining economics and natural sciences. The findings have policy implications for mitigating and adapting to climate change and facilitating the transition to renewable energy.
The research project is divided into four work packages: (1) the drivers of social and technological innovations; (2) integrated and hybrid climate change modelling; (3) health and environmental impacts of climate change and ancillary benefits; and (4) political economy, institutions, and development. The research identifies institutional and political barriers to implementing practical solutions for addressing global carbon externality. It investigates various effective policies for increasing energy efficiency, reducing emissions and their environmental and health consequences, and promoting renewable energy.
In practice, the project coordinates the implementation of secondments between six beneficiary institutions in Europe and sixteen partner institutions across five continents. One axis of cooperation exists between European and well-known institutions in Australia, Canada, China, New Zealand, and the United States. Another collaboration area is between European institutions and those in developing countries, specifically South Africa and Chile. These secondments hastened the transfer of cutting-edge modelling knowledge between participants and, particularly for early-stage researchers, improved their research-related training skills in economics and modelling.
The research project is divided into four work packages: (1) the drivers of social and technological innovations; (2) integrated and hybrid climate change modelling; (3) health and environmental impacts of climate change and ancillary benefits; and (4) political economy, institutions, and development. The research identifies institutional and political barriers to implementing practical solutions for addressing global carbon externality. It investigates various effective policies for increasing energy efficiency, reducing emissions and their environmental and health consequences, and promoting renewable energy.
In practice, the project coordinates the implementation of secondments between six beneficiary institutions in Europe and sixteen partner institutions across five continents. One axis of cooperation exists between European and well-known institutions in Australia, Canada, China, New Zealand, and the United States. Another collaboration area is between European institutions and those in developing countries, specifically South Africa and Chile. These secondments hastened the transfer of cutting-edge modelling knowledge between participants and, particularly for early-stage researchers, improved their research-related training skills in economics and modelling.
The project made significant progress towards the scientific objectives. In the first work package, the researchers developed advanced models of social and technological innovation drivers. They contributed to our understanding of the behaviour of economic agents, examining issues such as the impact of energy policies, payment methods and peer socialisation. At another level of analysis, they have studied new business models, such as those for providing drinking water. Finally, they modelled the impact of energy policies on transport fuel consumption.
In the second work package, the researchers have accelerated the development of state-of-the-art integrated and hybrid climate change models. Using advanced machine learning programs, integrated assessment models have been developed, for example, to study the impact of environmental fiscal policies. Other models contributed to the dynamic stochastic general equilibrium method, which has been used to study the impact of central bank regulation. Finally, general equilibrium and sectoral optimisation models have been run to identify carbon dioxide emission reduction pathways.
In the third work package, the researchers made finely-grained contributions on the topic of climate change’s impact on societies and health. They have delivered valuable models to understand the effects of climate change-related extreme events on the well-being of households and the flooding of geographical regions. Also, models derived into problems such as the impact of climate change on land use, ecosystem services, wealth reallocation and air pollution.
In the fourth work package, researchers made progress towards understanding the complex dynamics of international cooperation, national policy and finances. For example, researchers examined the role of the European Council in environmental relations. At the regional level, models have been developed to address issues such as coal-fired power plants’ closure. Finally, researchers have developed quantitative models that analyse financial parameters such as the evolution of energy commodity prices, green investments by firms, and central bank policies.
In the second work package, the researchers have accelerated the development of state-of-the-art integrated and hybrid climate change models. Using advanced machine learning programs, integrated assessment models have been developed, for example, to study the impact of environmental fiscal policies. Other models contributed to the dynamic stochastic general equilibrium method, which has been used to study the impact of central bank regulation. Finally, general equilibrium and sectoral optimisation models have been run to identify carbon dioxide emission reduction pathways.
In the third work package, the researchers made finely-grained contributions on the topic of climate change’s impact on societies and health. They have delivered valuable models to understand the effects of climate change-related extreme events on the well-being of households and the flooding of geographical regions. Also, models derived into problems such as the impact of climate change on land use, ecosystem services, wealth reallocation and air pollution.
In the fourth work package, researchers made progress towards understanding the complex dynamics of international cooperation, national policy and finances. For example, researchers examined the role of the European Council in environmental relations. At the regional level, models have been developed to address issues such as coal-fired power plants’ closure. Finally, researchers have developed quantitative models that analyse financial parameters such as the evolution of energy commodity prices, green investments by firms, and central bank policies.
The GEOCEP project impacts the training of staff members to a state-of-the-art set of skills in line with the overall objective of the Research and Innovation Staff Exchange programme. These activities primarily benefited early-stage researchers, such as PhD students, to obtain advanced professional qualifications. They participated in activities at partner institutions such as course methods in energy economics, international environmental economics courses and energy policy seminars. This knowledge exchange prepares them to embark on a research career and maintain Europe’s knowledge workers at a high level of qualification.
Also, the project contributes to applying climate change and energy models to policymaking. Researchers have consulted with institutions such as the Republic of Georgia’s energy regulator on electricity policy and Chile’s Central Bank on the economic impact of green policies. Several participants in the Conference of the Parties contributed most to the United Nations Framework Convention on Climate Change (COP 27 and 28) in 2022 and 2023. The recommendations assist policymakers in selecting and designing effective policy instruments to address climate change and facilitate the energy transition.
Finally, the project addresses EU climate and energy policy concerns outlined in the 2020 European Green Deal, making it highly relevant to policymakers. Researchers developed models that consider the policy’s goals, such as increasing the share of renewable energy, lowering carbon dioxide emissions, and increasing energy efficiency. Other models of carbon taxation have implications for the EU Emissions Trading System. Several contributions are relevant to the Energy Union, such as internal energy markets, economic decarbonisation, and energy research and innovation.
Also, the project contributes to applying climate change and energy models to policymaking. Researchers have consulted with institutions such as the Republic of Georgia’s energy regulator on electricity policy and Chile’s Central Bank on the economic impact of green policies. Several participants in the Conference of the Parties contributed most to the United Nations Framework Convention on Climate Change (COP 27 and 28) in 2022 and 2023. The recommendations assist policymakers in selecting and designing effective policy instruments to address climate change and facilitate the energy transition.
Finally, the project addresses EU climate and energy policy concerns outlined in the 2020 European Green Deal, making it highly relevant to policymakers. Researchers developed models that consider the policy’s goals, such as increasing the share of renewable energy, lowering carbon dioxide emissions, and increasing energy efficiency. Other models of carbon taxation have implications for the EU Emissions Trading System. Several contributions are relevant to the Energy Union, such as internal energy markets, economic decarbonisation, and energy research and innovation.