Title: Energy investment needs for fulfilling the Paris Agreement and achieving the Sustainable Development Goals
Authors: MCCOLLUM DAVIDZHOU WENJIBERTRAM CHRISTOPHDE BOER HARMEN SYTZEBOSETTI VALENTINABUSCH SEBASTIANDESPRÉS JACQUESDROUET LAURENTEMMERLING JOHANNESFAY MARIANNEFRICKO OLIVERFUJIMORI SHINICHIROGIDDEN MATTHEWHARMSEN J.H. MATHIJSHUPPMANN DANIELIYER GOKULKREY VOLKERKRIEGLER ELMARNICOLAS CLAIREPACHAURI SHONALIPARKINSON SIMONPOBLETE-CAZENAVE MIGUELRAFAJ PETERRAO NARASIMHAROZENBERG JULIESCHMITZ ANDREASSCHOEPP WOLFGANGVAN VUUREN DETLEFRIAHI KEYWAN
Citation: NATURE ENERGY vol. 3 p. 589-599
Publisher: NATURE PUBLISHING GROUP
Publication Year: 2018
JRC N°: JRC108794
ISSN: 2058-7546
URI: http://publications.jrc.ec.europa.eu/repository/handle/JRC108794
DOI: 10.1038/s41560-018-0179-z
Type: Articles in periodicals and books
Abstract: Low-carbon investments are necessary for driving the energy system transformation that is called for by both the Paris Agreement and Sustainable Development Goals. Improving understanding of the scale and nature of these investments under diverging technology and policy futures is therefore of great importance to decision makers. Here, using six global modelling frameworks, we show that the pronounced reallocation of the investment portfolio required to transform the energy system will not be initiated by the current suite of countries’ Nationally Determined Contributions. Charting a course toward ‘well below 2 °C’ instead sees low-carbon investments overtaking fossil investments globally by around 2025 or before and growing thereafter. Pursuing the 1.5 °C target demands a marked upscaling in low-carbon capital beyond that of a 2 °C-consistent future. Actions consistent with an energy transformation would increase the costs of achieving the goals of energy access and food security, but reduce the costs of achieving air-quality goals.
JRC Directorate:Energy, Transport and Climate

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