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Edenhofer awarded with most prestigious environmental prize
2.9.2020 - This year’s "Umweltpreis" – the most prestigious environmental prize in Germany – goes to Ottmar Edenhofer. Deutsche Bundesstiftung Umwelt honours the Director of the Potsdam Institute for Climate Impact Research (PIK, member of Leibniz Association), and of the Mercator Research Institute for Global Commons and Climate Change (MCC), for his groundbreaking work namely in the field of carbon pricing. The award will be presented to Edenhofer by the German head of state, President Frank-Walter Steinmeier, on 25 October in Hanover.
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Heating our climate damages our economies – study reveals greater costs than expected
19/08/2020 - Rising temperatures due to our greenhouse gas emissions can cause greater damages to our economies than previous research suggested, a new study shows. Scientists from the Potsdam Institute for Climate Impact Research (PIK) and the Mercator Research Institute for Global Commons and Climate Change (MCC) took a closer look at what climate change does to regions at the sub-national level, such as US states, Chinese provinces or French départements, based on a first-of-its-kind dataset by MCC. If CO2 emissions from burning fossil fuels are not reduced rapidly, a global warming of 4°C until 2100 can make that regions lose almost 10% of economic output on average and more than 20% in the tropics.
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An Economic Case for the UN Climate Targets: Early and strong climate action pays off
13/07/2020 - 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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Shaping the energy transition together: Kopernikus project Ariadne launched
03/07/2020 - From our energy supply to the industry and the Paris climate targets, from individual sectors to the big picture: a network of leading research institutions is now starting an unparalleled research process focused on shaping the German energy transition. The Ariadne project aims at improving our understanding of the impact of different policy instruments in order to develop sound strategies for change. From the very beginning, a comprehensive dialogue between decision-makers from politics, business, and civil society will be a core part of the project.
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Direct CO2 pricing gives room for additional voluntary emissions reductions
06/30/2020- Most climate economist agree that it makes sense to put a price tag on the emission of the most important greenhouse gas carbon dioxide, CO2. The discussion primarily revolves around whether it would be better to achieve this through a tax or emissions trading. Arguments include the administrative effort involved, the signal effect for investors, and the political enforceability. A new study based on a scientifically controlled experiment now sheds light on another aspect that has barely been researched so far: the incentive effect of both options on actors who want to act morally beyond their economic interests. The study was conducted by the economists Axel Ockenfels, Peter Werner and Ottmar Edenhofer, and has now been published in the renowned journal Nature Sustainability.
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EU Commission draft climate law is "an important step" - yet comprehensive CO2 pricing is needed: Edenhofer
Today, the EU Commission proposed a draft climate law, containing regulation to implement parts of its Green Deal plan. On this issue, Ottmar Edenhofer, Director of the Potsdam Institute for Climate Impact Research and Professor for Climate Economics at Technische Universität Berlin, Germany, published a statement. Setting the right targets is not enough, he argues - "we need well-defined pathways and short-term entry points to reach them".
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Eurogroup Finance Ministers debate with Edenhofer
17/02/2020 - The Eurogroup Finance Ministers invited climate economist Ottmar Edenhofer to speak at their Brussels meeting this Monday. They expect him to “bring a fresh perspective” based on his “important contributions to the research and public debate on the economics of the climate transition”. Edenhofer, Director of the Potsdam Institute for Climate Impact Research and the Mercator Research Institute on Global Commons and Climate Change, will talk about environmental taxation that could help both climate stabilization and social equity.
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Edenhofer: Shutting down German power stations could have been achieved more cheaply
29.01.2020 - Today, about a year after the report of the so-called Commission, the German government passed the Kohleausstiegsgesetz (Coal Exit Law). Power generation from lignite and hard coal, accounting for 28 percent of gross electricity generation in 2019, shall be stopped by 2038. Lignite operators will receive 4.35 billion euros in compensation; further compensation to hard coal operators will be determined and distributed through auctions. In addition, coal regions will receive 40 billion euros in structural aid.
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Climate costs smallest if warming is limited to 2°C
27/01/2020 - Climate costs are likely smallest if global warming is limited to 2 degrees Celsius. The politically negotiated Paris Agreement is thus also the economically sensible one, Potsdam researchers find in a new study. Using computer simulations of a model by US Nobel Laureate William Nordhaus, they weight climate damages from, for instance, increasing weather extremes or decreasing labour productivity against the costs of cutting greenhouse gas emission by phasing out coal and oil. Interestingly, the economically most cost-efficient level of global warming turns out to be the one more than 190 nations signed as the Paris Climate Agreement. So far however, CO2 reductions promised by nations worldwide are insufficient to reach this goal.
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Germany likely to ramp up CO2 price path
16/12/2019 - Germany is likely to introduce a more ambitious carbon price path than previously envisioned by the Federal government. The mediation committee of the two legislative bodies agreed on a starting price of 25 Euro per ton CO2 in 2021, gradually rising to 55 Euros in 2025. Previously, the German government's plan was to start with 10 Euro, rising to 35 Euro. The national pricing scheme is supposed to complement the European Union's Emissions Trading System. The Green Deal plans just announced by Ursula von der Leyen, President of the European Commission, might also comprise more substantial carbon pricing. On this issue Ottmar Edenhofer, Director of the Potsdam Institute for Climate Impact Research (PIK) and of the Mercator Research Institute on Global Commons and Climate Change (MCC):
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