05.12.2016

# New Publications

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Heyen, Daniel (2016): Strategic Conflicts on the Horizon. R&D Incentives for Environmental Technologies

Heyen, Daniel (2016): Strategic Conflicts on the Horizon. R&D Incentives for Environmental Technologies. In Clim. Change Econ. 07 (04), p. 1650013–1650013. DOI 10.1142/S2010007816500135.

"This paper focuses on a specific mechanism for strategic distortions in this R&D game. In this mechanism, the outlook of future conflicts surrounding technology deployment directly impacts on the willingness to undertake R&D. Apart from free-riding, a different deployment conflict with distortive effects on innovation can occur. Low deployment costs and heterogeneous preferences might give rise to ‘free-driving’ (Weitzman, ML (2015). A voting architecture for the governance of free-driver externalities, with application to geoengineering. The Scandinavian Journal of Economics, 117(4), 1049–1068): The country with the highest preference for technology deployment, the free driver, may dominate the deployment outcome to the detriment of others."

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17.11.2016

# New Publications

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Harding, A.; Moreno-Cruz, Juan B. (2016): Solar geoengineering economics. From incredible to inevitable and half-way back

Harding, A.; Moreno-Cruz, Juan B. (2016): Solar geoengineering economics. From incredible to inevitable and half-way back. In Earth's Future. DOI 10.1002/2016EF000462.

"As our scientific understanding of the technologies evolve, so does the way economists think about them. In this paper, we document the evolution of economic thinking around these technologies since before [2006] until today and provide some fruitful areas for further research."

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26.09.2016

# New Publications

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Muratori, Matteo; et al. (2016): Global economic consequences of deploying bioenergy with carbon capture and storage (BECCS)

Muratori, Matteo; Calvin, Katherine; Wise, Marshall; Kyle, Page; Edmonds, Jae (2016): Global economic consequences of deploying bioenergy with carbon capture and storage (BECCS). In Environ. Res. Lett. 11 (9), p. 95004–95004. DOI 10.1088/1748-9326/11/9/095004.

"We use the Global Change Assessment Model (GCAM) integrated assessment model to explore the potential global and regional economic impacts of BECCS. As a negative-emissions technology, BECCS would entail a net subsidy in a policy environment in which carbon emissions are taxed."

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21.09.2016

# Media

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Green Biz: Why carbon removal is the next frontier in corporate climate action

"Because time travel is not an option, we will need to develop what are known as "carbon removal" solutions that can clean up large volumes of CO2 from the atmosphere. A wide variety of carbon removal solutions have been proposed, ranging from basic tree planting and ecosystem restoration to high-tech devices that hoover up CO2 directly from the atmosphere, as shown in the figure below. While carbon removal solutions face many commercialization hurdles, estimates show a very large technical scale potential for a portfolio of solutions if these challenges are tackled successfully."

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15.09.2016

# New Publications

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Moriyama, Ryo; et al. (2016): The cost of stratospheric climate engineering revisited

Moriyama, Ryo; Sugiyama, Masahiro; Kurosawa, Atsushi; Masuda, Kooiti; Tsuzuki, Kazuhiro; Ishimoto, Yuki (2016): The cost of stratospheric climate engineering revisited. In Mitig Adapt Strateg Glob Change. DOI 10.1007/s11027-016-9723-y.

"Here, we critically synthesize previous estimates of the underlying parameters and examine the total costs of SAI. It is evident that there have been inconsistencies in some assumptions and the application of overly optimistic parameter values in previous studies, which have led to an overall underestimation of the cost of aircraft-based SAI with sulfate aerosols."

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01.08.2016

# Media

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Energy Transition Show: Can Economics Guide the Energy Transition?

"Will they be any help at all in supporting technologies like carbon capture and sequestration, or geoengineering? Can negative discount rates help us pay for climate change mitigation projects?"

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31.07.2016

# New Publications

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Emmerling, Johannes; et al. (2016): Climate Engineering under Deep Uncertainty and Heterogeneity

Emmerling, Johannes; Manoussi, Vassiliki; Xepapadeas, Anastasios (2016): Climate Engineering under Deep Uncertainty and Heterogeneity. Fondazione Eni Enrico Mattei (FEEM) (Nota di Lavoro, 52.2016).

"We study the role of the SRM implementation and its strategic dimension in a model with two heterogeneous countries with the notable feature of model misspecification on the impacts from SRM. We find that deep uncertainty leads to a reduction in SRM deployment both under cooperation and strategic behavior, which is a more relevant issue if countries act strategically."

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06.06.2016

# Media

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VOX: Alternatives to emissions reduction: Using climate engineering to tackle global warming

"This column discusses a new set of technologies collectively known as climate engineering, and explores their potential effectiveness and role in climate change economics. A lot of uncertainty surrounds the costs and effects of climate engineering tools, but it is clear that they would change the optimal levels of emissions reduction currently discussed in literature."

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30.05.2016

# New Publications

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Barrett, Scott; Moreno-Cruz, Juan B. (2015): The alternatives to unconstrained climate change: Emission reductions versus carbon and solar geoengineering

Barrett, Scott; Moreno-Cruz, Juan B. (2015): The alternatives to unconstrained climate change: Emission reductions versus carbon and solar geoengineering. In Scott Barrett, Carlo Carraro, Jaime de Melo (Eds.): Towards a workable and effective climate regime. London: Centre for Economic Policy Research, pp. 353–365.

"With the 2°C target likely to be crossed later this century, this chapter argues that it is now time to consider solar and carbon geoengineering as well. Carbon geoengineering offers the option of a true backstop and provides a ceiling to the costs of managing climate change."

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02.05.2016

# New Publications

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Haszeldine, R. Stuart (2016): Can CCS and NET enable the continued use of fossil carbon fuels after CoP21?

Haszeldine, R. Stuart (2016): Can CCS and NET enable the continued use of fossil carbon fuels after CoP21? In ECOPOL 32 (2), pp. 304–322. DOI 10.1093/oxrep/grw013.

"Both CCS and negative emission technology (NET) are now required to manage the carbon stock in earth’s atmosphere and oceans. All components of CCS are operationally proven secure at the industrial scale. Fifteen CCS projects operate globally; seven are under construction. CCS systems increase electricity prices, to about £100/MWhr."

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