Fossil extraction bans and carbon taxes: Assessing their interplay through multiple models.

Given concerns about the ambition and effectiveness of current climate policies, a case has been made for the combination of demand side policies such as carbon pricing with supply side bans on fossil fuel extraction. However, little is known about their interplay in the context of climate stabilization strategies. Here, we present a multi-model assessment quantifying the effectiveness of supply side policies and their interactions with demand-side ones. We explore a variety of fossil fuel bans with four integrated assessment models and find that international supply side policies reduce carbon emissions but not at sufficient levels to stabilize temperature increase to well below 2°C. When combined with demand side policies, supply side policies reduce the required carbon price, dampen reliance on CO2 removal technologies, and increase investment in renewable energy. The results indicate the opportunity to integrate fossil fuel bans alongside price-based policies when exploring pathways to reach ambitious mitigation targets.

Higher cost of finance exacerbates a climate investment trap in developing economies.

Finance is vital for the green energy transition, but access to low cost finance is uneven as the cost of capital differs substantially between regions. This study shows how modelled decarbonisation pathways for developing economies are disproportionately impacted by different weighted average cost of capital (WACC) assumptions. For example, representing regionally-specific WACC values indicates 35% lower green electricity production in Africa for a cost-optimal 2 °C pathway than when regional considerations are ignored. Moreover, policy interventions lowering WACC values for low-carbon and high-carbon technologies by 2050 would allow Africa to reach net-zero emissions approximately 10 years earlier than when the cost of capital reduction is not considered. A climate investment trap arises for developing economies when climate-related investments remain chronically insufficient. Current finance frameworks present barriers to these finance flows and radical changes are needed so that capital is more equitably distributed.

Climate change impacts on the energy system: a review of trends and gaps.

Major transformation of the global energy system is required for climate change mitigation. However, energy demand patterns and supply systems are themselves subject to climate change impacts. These impacts will variously help and hinder mitigation and adaptation efforts, so it is vital they are well understood and incorporated into models used to study energy system decarbonisation pathways. To assess the current state of understanding of this topic and identify research priorities, this paper critically reviews the literature on the impacts of climate change on the energy supply system, summarising the regional coverage of studies, trends in their results and sources of disagreement. We then examine the ways in which these impacts have been represented in integrated assessment models of the electricity or energy system. Studies tend to agree broadly on impacts for wind, solar and thermal power stations. Projections for impacts on hydropower and bioenergy resources are more varied. Key uncertainties and gaps remain due to the variation between climate projections, modelling limitations and the regional bias of research interests. Priorities for future research include the following: further regional impact studies for developing countries; studies examining impacts of the changing variability of renewable resources, extreme weather events and combined hazards; inclusion of multiple climate feedback mechanisms in IAMs, accounting for adaptation options and climate model uncertainty.

China's air pollution reduction efforts may result in an increase in surface ozone levels in highly polluted areas.

China, as a fast growing fossil-fuel-based economy, experiences increasing levels of air pollution. To tackle air pollution, China has taken the first steps by setting emission-reduction targets for nitrogen oxides (NO x ) and sulphur dioxide (SO2) in the 11th and 12th Five Year Plans. This paper uses two models-the Energy-Environment-Economy Model at the Global level (E3MG) and the global Chemistry Transport Model pTOMCAT-to test the effects of these policies. If the policy targets are met, then the maximum values of 32 % and 45 % reductions below 'business as usual' in the monthly mean NO x and SO2 concentrations, respectively, will be achieved in 2015. However, a decrease in NO x concentrations in some highly polluted areas of East, North-East and South-East China can lead to up to a 10% increase in the monthly mean concentrations in surface ozone in 2015. Our study demonstrates an urgent need for the more detailed analysis of the impacts and designs of air pollution reduction guidelines for China.

Public health, climate, and economic impacts of desulfurizing jet fuel.

In jurisdictions including the US and the EU ground transportation and marine fuels have recently been required to contain lower concentrations of sulfur, which has resulted in reduced atmospheric SO(x) emissions. In contrast, the maximum sulfur content of aviation fuel has remained unchanged at 3000 ppm (although sulfur levels average 600 ppm in practice). We assess the costs and benefits of a potential ultra-low sulfur (15 ppm) jet fuel standard ("ULSJ"). We estimate that global implementation of ULSJ will cost US$1-4bn per year and prevent 900-4000 air quality-related premature mortalities per year. Radiative forcing associated with reduction in atmospheric sulfate, nitrate, and ammonium loading is estimated at +3.4 mW/m(2) (equivalent to about 1/10th of the warming due to CO(2) emissions from aviation) and ULSJ increases life cycle CO(2) emissions by approximately 2%. The public health benefits are dominated by the reduction in cruise SO(x) emissions, so a key uncertainty is the atmospheric modeling of vertical transport of pollution from cruise altitudes to the ground. Comparisons of modeled and measured vertical profiles of CO, PAN, O(3), and (7)Be indicate that this uncertainty is low relative to uncertainties regarding the value of statistical life and the toxicity of fine particulate matter.