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The Clean Energy R&D Strategy for 2°C

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  • Marangoni, Giacomo
  • Tavoni, Massimo

Abstract

This paper uses an integrated assessment model to quantify the climate R&D investment strategy for a variety of scenarios fully consistent with 2°C. We estimate the total climate R&D investment needs in approximately 1 USD Trillion cumulatively in the period 2010-2030, and 1.6 USD Trillions in the period 2030-2050. Most of the R&D would be carried out in industrialized countries initially, but would be evenly split after 2030. We also assess a ‘climate R&D deal’ in which countries cooperate on innovation in the short term, and find that an R&D agreement slightly underperforms a climate policy based on the extension of the Copenhagen pledges till 2030. Both policies are inferior to full cooperation on mitigation starting in 2020. A global agreement on clean energy innovation beyond 2030 without sufficiently stringent GHG emissions reduction policies is found to be incompatible with 2°C.

Suggested Citation

  • Marangoni, Giacomo & Tavoni, Massimo, 2013. "The Clean Energy R&D Strategy for 2°C," Climate Change and Sustainable Development 162376, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcl:162376
    DOI: 10.22004/ag.econ.162376
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    1. Giacomo Marangoni & Gauthier De Maere & Valentina Bosetti, 2017. "Optimal Clean Energy R&D Investments Under Uncertainty," MITP: Mitigation, Innovation and Transformation Pathways 256056, Fondazione Eni Enrico Mattei (FEEM).
    2. Awaworyi Churchill, Sefa & Inekwe, John & Smyth, Russell & Zhang, Xibin, 2019. "R&D intensity and carbon emissions in the G7: 1870–2014," Energy Economics, Elsevier, vol. 80(C), pages 30-37.
    3. Jonas Meckling & Clara Galeazzi & Esther Shears & Tong Xu & Laura Diaz Anadon, 2022. "Energy innovation funding and institutions in major economies," Nature Energy, Nature, vol. 7(9), pages 876-885, September.
    4. Lara Aleluia Reis & Zoi Vrontisi & Elena Verdolini & Kostas Fragkiadakis & Massimo Tavoni, 2023. "A research and development investment strategy to achieve the Paris climate agreement," Nature Communications, Nature, vol. 14(1), pages 1-10, December.

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