Achieving 2°C climate stabilisation: macroeconomic benefits or costs?

The workshop will address issues associated with the costs of stringent mitigation of climate change (say 450ppmv CO2-equivalent by 2100) required for an even chance of achieving the 2°C target adopted by the international community in order to maintain climate stability.

There have been several comparative studies of different aspects of the problem, and the workshop will focus on

• The “Green Growth” idea
• Is the 2°C target feasible, reasonable and achievable with macro-benefits?
• Do the E3 models capture historical transitions?
• E3 (Energy-Environment-Economy) modelling of the 2°C target: the literature on the benefits and costs of achieving the target
• Modelling the achievement of the 2°C target: different approaches (demand-driven growth, simulation and equilibrium modelling)
• Multiple objectives for GHG mitigation policy: investment and reduction of risk
• The financial crisis and the 2°C target: a “New Economics” global policy response

The emphasis will be on new thinking in economics.