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Paris Agreement requires substantial, broad, and sustained engagements beyond COVID-19 public stimulus packages

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Listed:
  • Katsumasa Tanaka
  • Christian Azar
  • Olivier Boucher
  • Philippe Ciais
  • Yann Gaucher
  • Daniel J. A. Johansson
Abstract
It has been claimed that COVID-19 public stimulus packages could be sufficient to meet the short-term energy investment needs to leverage a shift toward a pathway consistent with the 1.5 degrees C target of the Paris Agreement. Here we provide complementary perspectives to reiterate that substantial, broad, and sustained engagements beyond stimulus packages will be needed for achieving the Paris Agreement long-term targets. Low-carbon investments will need to scale up and persist over the next several decades following short-term stimulus packages. The required total energy investments in the real world can be larger than the currently available estimates from Integrated Assessment Models (IAMs). Existing databases from IAMs are not sufficient for analyzing the effect of public spending on emission reduction. To inform what role COVID-19 stimulus packages and public investments may play for reaching the Paris Agreement targets, explicit modelling of such policies is required.

Suggested Citation

  • Katsumasa Tanaka & Christian Azar & Olivier Boucher & Philippe Ciais & Yann Gaucher & Daniel J. A. Johansson, 2021. "Paris Agreement requires substantial, broad, and sustained engagements beyond COVID-19 public stimulus packages," Papers 2104.08342, arXiv.org, revised Feb 2022.
    • Handle: RePEc:arx:papers:2104.08342
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    References listed on IDEAS

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    Cited by:

    1. Michal Brzezinski, 2021. "The impact of past pandemics on CO$_2$ emissions and transition to renewable energy," Papers 2104.14199, arXiv.org.

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