Author(s)
Dafnomilis, Ioannis;Chen, Hsing-Hsuan;Elzen, Michel;Fragkos, Panagiotis;Chewpreecha, Unnada;Soest, Heleen van;Fragkiadakis, Kostas;Karkatsoulis, Panagiotis;Paroussos, Leonidas;de Boer, Harmen Sytze;Daioglou, Vassilis;Edelenbosch, Oreane;Kiss-Dobronyi, Bence;Vuuren, Detlef van
Book, Journal
NA NA, NA, NA 2021-07-20
Abstract
Abstract Despite the significant volume of fiscal recovery measures announced by countries to deal with the COVID-19 crisis, most recovery plans allocate a low percentage to green recovery. We present scenarios exploring the long-term impact of the COVID-19 crisis and develop a Green Recovery scenario using three global models to analyze the impact of a more ambitious allocation. The results show that a Green Recovery scenario, with 1% of global GDP in fiscal support directed to mitigation measures for three years, could reduce global CO2 emissions by 10.5-15.5% below pre-COVID projections by 2030. The share of renewables in global electricity generation is projected to reach 45% in 2030, the uptake of electric vehicles would be accelerated, and energy efficiency in the buildings and industry sector would improve. However, such a temporary investment should be reinforced with sustained climate policies after 2023 to lead to socio-economic restructuring towards carbon neutrality by mid-century.
DOI
http://dx.doi.org/10.21203/rs.3.rs-667715/v1
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