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Integrated Assessment Models (IAMs) connect trends in future socio-economic and technological development with impacts on the environment, such as global climate change. Critics have taken issue with the transparency of IAM methods and assumptions as well as the transparency of assessments of IAMs by the Intergovernmental Panel on Climate Change (IPCC), the United Nations body for assessing the science related to climate change.
An article published in
WIREs Climate Change that s co-authored by officials at the IPCC documents various activities underway to enhance the transparency of IAMs and their assessments. The purpose of this paper is to document how both the IAM community and IPCC are working to enhance transparency and to suggest some criteria for judging the success of these efforts, the authors wrote. Transparency does not in itself guarantee scientific closure, but it facilitates debate and provides a clearer evidence base for policymakers.
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Green energy technology is often more expensive than more established fossil fuel equivalents. But government support for scaling up green energy could push its price down fast and result in a cheaper energy system in the long run, a new study suggests. The findings are in contrast with the output of many Integrated Assessment Models […]
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Researchers at the University of Zurich show how climate mitigation scenarios can be improved by taking into account that the financial system can play both an enabling or a hampering role on the path to a sustainable economic system.
To limit global warming, a profound transformation of energy, production and consumption in our economies is required. The scale of the transformation means that the financial system must have a proactive role. New green investments are needed, as well as a reallocation of capital from high to low-carbon activities. The Central Banks and Supervisors Network for Greening the Financial System (NGFS), of which the Swiss National Bank is a member, was recently established with the aim of better understanding and managing the financial risks of climate change. The climate mitigation scenarios developed by the NGFS in collaboration with the Intergovernmental Panel on Climate Change of the United Nations (IPCC) have been a major step in providing f
A new study published in the journal
Science, highlights the opportunity to complement current climate mitigation scenarios with scenarios that capture the interdependence among investors perception of future climate risk, the credibility of climate policies, and the allocation of investments across low- and high-carbon assets in the economy.
Climate mitigation scenarios are key to understanding the transition to a low-carbon economy and inform climate policies. These scenarios are also important for financial investors to assess the risk of missing out on the transition or making the transition happen too late and in a disorderly fashion. In this respect, the scenarios developed by the platform of financial authorities known as the Network for Greening the Financial System (NGFS) - a platform of over 80 financial authorities around the globe who take an active interest in advancing the transition toward a sustainable world economy - have been a major step to provide investors wi