Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

Cutting carbon, not the economy. Bruegel Policy Contribution 2012/03, February 2012

Zachmann, Georg (2012) Cutting carbon, not the economy. Bruegel Policy Contribution 2012/03, February 2012. [Policy Paper]

[img]
Preview
PDF - Published Version
Download (160Kb) | Preview

    Abstract

    A drastic change in the way we produce and consume energy is necessary to contain the risk of global environmental catastrophe. For its part, the EU has set agreed to a greenhouse gas reduction target of 80-95 percent by 2050, compared to 1990. However, with the current fuel mix, even the most ambitious improvements on incumbent technologies are unlikely to be sufficient for reaching the reduction targets. Meeting the targets requires low-carbon transition. However, the process of transition will likely be littered with market failures. Hundreds of more-or-less proven low-carbon technologies are competing for market share in the low-carbon system. In order to bring about the transition to a low-carbon energy and transport system at the lowest cost, policymakers should rely as much as possible on private action to choose, develop, and deploy low-carbon technologies. For those market failures that might only be overcome with technology-specific measures, governments should set up a transparent and predictable mechanism for selecting technologies.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy
    EU policies and themes > Policies & related activities > environmental policy (including international arena)
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Contributions
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 20 Feb 2012 09:36
    Number of Pages: 8
    Last Modified: 20 Feb 2012 09:36
    URI: http://aei.pitt.edu/id/eprint/33606

    Actions (login required)

    View Item

    Document Downloads