IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v15y2022i9p3289-d806461.html
   My bibliography  Save this article

One Earth Climate Model—Integrated Energy Assessment Model to Develop Industry-Specific 1.5 °C Pathways with High Technical Resolution for the Finance Sector

Author

Listed:
  • Sven Teske

    (Institute for Sustainable Futures, University of Technology Sydney (UTS), 235 Jones Street, Sydney, NSW 2007, Australia)

  • Jaysson Guerrero

    (Institute for Sustainable Futures, University of Technology Sydney (UTS), 235 Jones Street, Sydney, NSW 2007, Australia)

Abstract

According to the IPCC, a global carbon budget of 400 GtCO 2 is required to limit the temperature rise to 1.5 °C with a 67% likelihood by 2050. The finance industry is increasingly committed to ambitious climate targets. In this article, we describe the detailed methodology and energy model architecture of a MATLAB-based integrated energy assessment model for industry-specific 1.5 °C pathways, with a high technical resolution of target parameters as key performance indicators (KPIs). The additionality of OECM 2.0 is the high technical resolution in terms of the level of detail of industry-specific energy demand and supply parameters that can be modeled—a prerequisite to define industry-specific KPIs. We found that a database of industry-sector-specific energy demands and energy intensities, with a consistent methodology, is required to improve the accuracy of calculations in future research. We supplement the technical documentation with the results for a transport scenario.

Suggested Citation

  • Sven Teske & Jaysson Guerrero, 2022. "One Earth Climate Model—Integrated Energy Assessment Model to Develop Industry-Specific 1.5 °C Pathways with High Technical Resolution for the Finance Sector," Energies, MDPI, vol. 15(9), pages 1-32, April.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:9:p:3289-:d:806461
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/15/9/3289/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/15/9/3289/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Süsser, Diana & Gaschnig, Hannes & Ceglarz, Andrzej & Stavrakas, Vassilis & Flamos, Alexandros & Lilliestam, Johan, 2022. "Better suited or just more complex? On the fit between user needs and modeller-driven improvements of energy system models," Energy, Elsevier, vol. 239(PB).
    2. Christoph Schlenzig, 1999. "Energy planning and environmental management with the information and decision support system MESAP," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 12(1/2/3/4/5), pages 81-91.
    3. Sonja Simon & Tobias Naegler & Hans Christian Gils, 2018. "Transformation towards a Renewable Energy System in Brazil and Mexico—Technological and Structural Options for Latin America," Energies, MDPI, vol. 11(4), pages 1-26, April.
    4. Ringkjøb, Hans-Kristian & Haugan, Peter M. & Solbrekke, Ida Marie, 2018. "A review of modelling tools for energy and electricity systems with large shares of variable renewables," Renewable and Sustainable Energy Reviews, Elsevier, vol. 96(C), pages 440-459.
    5. Wachtmeister, Henrik & Henke, Petter & Höök, Mikael, 2018. "Oil projections in retrospect: Revisions, accuracy and current uncertainty," Applied Energy, Elsevier, vol. 220(C), pages 138-153.
    6. Joeri Rogelj & Alexander Popp & Katherine V. Calvin & Gunnar Luderer & Johannes Emmerling & David Gernaat & Shinichiro Fujimori & Jessica Strefler & Tomoko Hasegawa & Giacomo Marangoni & Volker Krey &, 2018. "Scenarios towards limiting global mean temperature increase below 1.5 °C," Nature Climate Change, Nature, vol. 8(4), pages 325-332, April.
    7. Xiaoyuan Wang & Yaopeng Zhang & Peng Gao, 2020. "Design and Analysis of Second-Order Sliding Mode Controller for Active Magnetic Bearing," Energies, MDPI, vol. 13(22), pages 1-14, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Østergaard, P.A. & Lund, H. & Thellufsen, J.Z. & Sorknæs, P. & Mathiesen, B.V., 2022. "Review and validation of EnergyPLAN," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    2. Thomas Pregger & Tobias Naegler & Wolfgang Weimer-Jehle & Sigrid Prehofer & Wolfgang Hauser, 2020. "Moving towards socio-technical scenarios of the German energy transition—lessons learned from integrated energy scenario building," Climatic Change, Springer, vol. 162(4), pages 1743-1762, October.
    3. Tobias Junne & Sonja Simon & Jens Buchgeister & Maximilian Saiger & Manuel Baumann & Martina Haase & Christina Wulf & Tobias Naegler, 2020. "Environmental Sustainability Assessment of Multi-Sectoral Energy Transformation Pathways: Methodological Approach and Case Study for Germany," Sustainability, MDPI, vol. 12(19), pages 1-28, October.
    4. Thimet, P.J. & Mavromatidis, G., 2022. "Review of model-based electricity system transition scenarios: An analysis for Switzerland, Germany, France, and Italy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 159(C).
    5. Gorman, Nicholas & MacGill, Iain & Bruce, Anna, 2024. "Re-dispatch simplification analysis: Confirmation holism and assessing the impact of simplifications on energy system model performance," Applied Energy, Elsevier, vol. 365(C).
    6. Tobias Naegler & Lisa Becker & Jens Buchgeister & Wolfgang Hauser & Heidi Hottenroth & Tobias Junne & Ulrike Lehr & Oliver Scheel & Ricarda Schmidt-Scheele & Sonja Simon & Claudia Sutardhio & Ingela T, 2021. "Integrated Multidimensional Sustainability Assessment of Energy System Transformation Pathways," Sustainability, MDPI, vol. 13(9), pages 1-28, May.
    7. Alizadeh, Reza & Lund, Peter D. & Soltanisehat, Leili, 2020. "Outlook on biofuels in future studies: A systematic literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    8. Morstyn, Thomas & Collett, Katherine A. & Vijay, Avinash & Deakin, Matthew & Wheeler, Scot & Bhagavathy, Sivapriya M. & Fele, Filiberto & McCulloch, Malcolm D., 2020. "OPEN: An open-source platform for developing smart local energy system applications," Applied Energy, Elsevier, vol. 275(C).
    9. Jen-Yu Lee & Tien-Thinh Nguyen & Hong-Giang Nguyen & Jen-Yao Lee, 2022. "Towards Predictive Crude Oil Purchase: A Case Study in the USA and Europe," Energies, MDPI, vol. 15(11), pages 1-15, May.
    10. Bojana Škrbić & Željko Đurišić, 2023. "Novel Planning Methodology for Spatially Optimized RES Development Which Minimizes Flexibility Requirements for Their Integration into the Power System," Energies, MDPI, vol. 16(7), pages 1-34, April.
    11. Nathalie Spittler & Ganna Gladkykh & Arnaud Diemer & Brynhildur Davidsdottir, 2019. "Understanding the Current Energy Paradigm and Energy System Models for More Sustainable Energy System Development," Post-Print hal-02127724, HAL.
    12. Maria Taljegard & Lisa Göransson & Mikael Odenberger & Filip Johnsson, 2021. "To Represent Electric Vehicles in Electricity Systems Modelling—Aggregated Vehicle Representation vs. Individual Driving Profiles," Energies, MDPI, vol. 14(3), pages 1-25, January.
    13. Gils, Hans Christian & Gardian, Hedda & Kittel, Martin & Schill, Wolf-Peter & Zerrahn, Alexander & Murmann, Alexander & Launer, Jann & Fehler, Alexander & Gaumnitz, Felix & van Ouwerkerk, Jonas & Bußa, 2022. "Modeling flexibility in energy systems — comparison of power sector models based on simplified test cases," Renewable and Sustainable Energy Reviews, Elsevier, vol. 158(C).
    14. Casari, Marco & Tavoni, Alessandro, 2024. "Climate clubs in the laboratory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 110(C).
    15. Francesco Bandarin & Enrico Ciciotti & Marco Cremaschi & Giovanna Madera & Paolo Perulli & Diana Shendrikova, 2020. "Which Future for Cities after COVID-19 An international Survey," Reports, Fondazione Eni Enrico Mattei, October.
    16. Hossein Yousefi & Mohammad Hasan Ghodusinejad & Armin Ghodrati, 2022. "Multi-Criteria Future Energy System Planning and Analysis for Hot Arid Areas of Iran," Energies, MDPI, vol. 15(24), pages 1-25, December.
    17. Leonard Goke & Jens Weibezahn & Christian von Hirschhausen, 2021. "A collective blueprint, not a crystal ball: How expectations and participation shape long-term energy scenarios," Papers 2112.04821, arXiv.org, revised Dec 2022.
    18. Theresa Liegl & Simon Schramm & Philipp Kuhn & Thomas Hamacher, 2023. "Considering Socio-Technical Parameters in Energy System Models—The Current Status and Next Steps," Energies, MDPI, vol. 16(20), pages 1-19, October.
    19. Lisa Göransson & Caroline Granfeldt & Ann-Brith Strömberg, 2021. "Management of Wind Power Variations in Electricity System Investment Models," SN Operations Research Forum, Springer, vol. 2(2), pages 1-30, June.
    20. Bi-Huei Tsai & Yao-Min Huang, 2023. "Comparing the Substitution of Nuclear Energy or Renewable Energy for Fossil Fuels between the United States and Africa," Sustainability, MDPI, vol. 15(13), pages 1-16, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:15:y:2022:i:9:p:3289-:d:806461. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.