Fossil extraction bans and carbon taxes: Assessing their interplay through multiple models

Article - March 28, 2023

In this paper we explore the interplay between demand-side policies like carbon pricing with supply-side bans on extracting fossil fuels with the use of four IAMs. We find that extraction bans decrease global emissions by up to 60% until 2050 which means that such bans alone cannot reach net-zero emissions ; but, when combined with demand-side policies, these bans help reduce the required carbon price, minimize reliance on CO2 removal technologies, and increase investment in renewable energy. This work was prepared for NDC Aspects and NAVIGATE projects and can be found here