IAM_COMPACT_D5.1_Impact_assessment_of_COVID_19_recovery
Creators
- 1. E3Modelling S.A.
- 2. University of Piraeus Research Center (UPRC)
-
3.
Imperial College London
- 4. Basque Center for Climate Change, Sede Building 1, 1st floor, Scientific Campus of the University of the Basque Country, Leioa, 48940, Spain
- 5. University of Valladolid
- 6. Energy Policy Unit, School of Electrical & Computer Engineering, National Technical University of Athens, Iroon Polytechniou 9, 15780, Zografou, Athens, Greece
Description
This report first documents the development of a comprehensive database of green recovery packages globally, using data from reputational well-established sources, including the International Energy Agency (IEA), the Global Recovery Observatory, and the Energy Policy Tracker, and covering 105 countries representing more than 90% of global GDP, with green recovery funds totaling about 2.4 trillion USD and including 2109 unique policies and measures. Subsequently, using said database, this report also documents the analysis of the energy system and emissions impact of green recovery packages across energy supply and demand sectors, using three Integrated Assessment Models (IAMs): PROMETHEUS, GCAM, and TIAM. Utilising data gathered from the developed green recovery packages database, which is described in this report, four scenarios were developed to examine the impacts of green recovery funding at a global scale as well as with an additional focus on three major emitters (China, Europe, and India) under different policy contexts. The findings emphasise the positive role of green recovery packages in facilitating the transition to a low-carbon economy. However, it also underscores that, while these packages support innovation and specific national contexts, additional and robust climate policies are imperative to bridge the substantial investment gap for a net-zero transition and achieve the Paris Agreement goals effectively. Finally, this deliverable includes a national deep dive of green recovery spending in Greece.
Files
D5.1_Impact assessment of COVID-19 recovery_v1.00_SUBMITTED_.pdf
Files
(7.8 MB)
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