Economic Assessment of Post-2012 Global Climate Policies Analysis of Greenhouse Gas Emission Reduction Scenarios with the POLES and GEM-E3 models

Abstract

This report documents the JRC/IPTS modelling activities of the 2009 European Commission Communication "Towards a comprehensive climate change agreement in Copenhagen", which establishes the EU's position in the Copenhagen negotiations. According to the POLES model, the estimated global direct abatement costs of an emission reduction scenario compatible with the EU 2 degrees target are ¿175 billion by 2020. The report also highlights the crucial importance of energy efficiency improvements in achieving the overall emission reduction targets. Finally, the analyses with the POLES and GEM-E3 models underline the fundamental role that a global carbon market can play in implementing climate policies in a cost-efficient way.