ENGAGE-RD3

Title

Economic Growth Impacts of Climate Change (ENGAGE)

Duration

March 2016 until February 2020

Budget

980.843 € funded by Leibniz-Gemeinschaft: Pakt für Forschung und Innovation

Contact

Elmar Kriegler

PIK number / OEH

Description

The IPCC 5th Assessment Report shows large knowledge gaps about socio-economic impacts of climate change, especially changes in economic growth. This prevents the integrated assessment of impacts, mitigation and adaptation. ENGAGE aims to move towards closing these gaps by (a) developing a sound conceptual and empirical understanding of channels through which climate impacts affect growth, (b) estimating economic damages from selected impacts in a changing climate and socio-economic environment, in particular with regard to long-term growth effects, (c) exploring how the inclusion of growth effects changes the integrated assessment of selected impacts and mitigation strategies. This comprehensive approach will contribute to the next generation of integrated assessments for climate policy advice.

ENGAGE addresses three challenges: a) to develop sound theoretical understanding and empirical quantification of the channels through which climate impacts may affect long-term growth and development patterns b) to develop new approaches for a bottom-up economic valuation of biophysical impacts bridging the gap between impact and economic models c) the integration of impacts and mitigation in a global dynamic growth framework.

Homepage

https://www.pik-potsdam.de/research/projects/engage