Article - June 26, 2023
On 16 June a new article was featuring work by our GEM-E3 team under the title “A research and development investment strategy to achieve the Paris climate agreement”. The article was prepared in the framework of Horizon 20220 projects INNOPATHS, ENGAGE, NAVIGATE and DEEDS.
The article argues that timely R&D investment in five low-carbon technologies and energy efficiency measures can lower mitigation costs and induce positive employment effects.
The paper links two IAMs to study R&D investment pathways consistent with #climate #stabilization and suggest a consistent #financing scheme.
According to the research findings:
- Achieving 2°C (1.5°C) requires a global 18% (64%) increase in cumulative low-carbon R&D investment relative to the reference scenario by 2050.
- Carbon revenues are sufficient to finance the additional R&D investment requirements and reduce distortionary taxation, such as payrol ltaxes, generate economic benefits and enhancing job creation.
Access the full article at the link