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An Economic Case for the UN Climate Targets: Early and strong climate action pays off
07/13/2020 - Climate action is not cheap – but climate damages aren’t, either. So what level of climate action is best, economically speaking? This question has puzzled economists for decades, and in particular since the 2018 Nobel Prize in Economics went to William Nordhaus, who found 3.5 degrees of warming by 2100 might be an economically desirable outcome. An international team of scientists led by the Potsdam Institute has now updated the computer simulation model used to come to this conclusion with latest data and insights from both climate science and economics. They found that limiting global warming to below 2 degrees strikes an economically optimal balance between future climate damages and today’s climate mitigation costs. This would require a price of CO2 of more than 100 US Dollar per ton.
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Bundesbank experts discuss climate risks for finance
13/02/2020 - Climate risks for finance were at the centre of a joint workshop at the Potsdam Institute for Climate Impact Research (PIK) with experts from the German Bundesbank. Both the physical impacts of global warming, for instance weather extremes, and the economical impacts of transitioning to net zero CO2 emissions have huge implications. The experts and scientists discussed potential future collaborations, namely on data exchange and computer simulation modelling.
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PIK and MCC deliver detailed assessment of German climate package
14/10/2019 - The climate protection programme adopted by the Federal Government last week, which is intended to limit greenhouse gas emissions especially in the transport and heating sectors, is unlikely to be sufficient to achieve the 2030 climate targets. Policymakers need to make four particular adjustments: first, they need to raise the level of ambition for the carbon price; second, they need to improve social balance; third, they need to develop further its integration with the EU level; and fourth, they need to introduce an effective monitoring process. This is the core message of a detailed assessment of the climate package, presented by the Berlin climate research institute MCC (Mercator Research Institute on Global Commons and Climate Change) and the Potsdam Institute for Climate Impact Research (PIK).
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Edenhofer speaks at CDU and CSU events
09/09/2019 - The two sister Parties of the German conservatives are seeking the expertise of climate economist Ottmar Edenhofer, Director of the Potsdam Institute for Climate Impact Research and the Mercator Research Institute on Global Commons and Climate Change. Prior to the Federal Government's decision on the possible introduction of a national CO2 pricing, Edenhofer was invited as an expert to several events by CDU and CSU, just as he had already presented the state of research to other Parties, ministries and associations. Edenhofer with his team from PIK and MCC has contributed the climatic-economic part of the report on CO2 pricing by the German Council of Economic Experts.
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Project »IF«: Investment Funds for low-carbon Infrastructure
Located in Institute Transformation Pathways Projects
Flipping the switch: making use of carbon price dollars for health and education
07/16/2018 - While health systems, clean water and education are a plain given in many parts of the world, millions of people still do not have sufficient access to these basic public goods. In fact, carbon prices could make substantial financial resources available for succeeding with the global Sustainable Development Goals (SDGs) set by the United Nations, a team of scientists now finds. At the same time, carbon pricing could be a central contribution to meet global climate targets and limit global warming to well below 2°C until the end of the century.
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FutureLab: Public Economics and Climate Finance
Located in Institute FutureLabs
PRIDE - Policy and Regulatory Instruments in a Decentralized Economy
Located in Institute Transformation Pathways Models