Kimon Keramidas

European Commission | ec · Economics of Climate Change, Energy and Transport

Carbon fluxes from land use are key to the Paris Agreement. However, data comparability issues persist between countries’ inventories and targets (Nationally Determined Contributions, NDCs), which generally include direct and indirect anthropogenic net emissions, and what models provide as Paris-aligned benchmarks (direct net emissions only). As a...

Despite faster-than-expected progress in clean energy technology deployment, global annual CO2 emissions have increased from 2020 to 2023. The feasibility of limiting warming to 1.5 °C is therefore questioned. Here we present a model intercomparison study that accounts for emissions trends until 2023 and compares cost-effective scenarios to alterna...

Recent climate diplomacy efforts have resulted in Just Energy Transition Partnerships (JETPs) with South Africa, Indonesia and Vietnam, mobilizing financial support for ambitious decarbonization targets. Here, to assess JETPs’ alignment with global climate targets, we conduct a model-based assessment of JETPs’ energy and emissions targets. Results...

Global steel demand and production processes projections to 2070 using the energy system model POLES, with abatement options (electrification/recycling, direct reduction/hydrogen, carbon capture and sequestration), mitigation feedbacks on materials demand and senstivity studies

Delaying climate mitigation action and allowing a temporary overshoot of temperature targets require large-scale carbon dioxide removal (CDR) in the second half of this century that may induce adverse side effects on land, food and ecosystems. Meanwhile, meeting climate goals without global net-negative emissions inevitably needs early and rapid em...

Global emissions scenarios play a critical role in the assessment of strategies to mitigate climate change. The current scenarios, however, are criticized because they feature strategies with pronounced overshoot of the global temperature goal, requiring a long-term repair phase to draw temperatures down again through net-negative emissions. Some i...

Closing the emissions gap between Nationally Determined Contributions (NDCs) and the global emissions levels needed to achieve the Paris Agreement’s climate goals will require a comprehensive package of policy measures. National and sectoral policies can help fill the gap, but success stories in one country cannot be automatically replicated in oth...

The Paris Agreement does not only stipulate to limit the global average temperature increase to well below 2 °C, it also calls for 'making finance flows consistent with a pathway towards low greenhouse gas emissions'. Consequently, there is an urgent need to understand the implications of climate targets for energy systems and quantify the associat...

Integrated assessment models (IAMs) form a prime tool in informing about climate mitigation strategies. Diagnostic indicators that allow comparison across these models can help describe and explain differences in model projections. This increases transparency and comparability. Earlier, the IAM community has developed an approach to diagnose models...

Change in the air The 2016 Paris Agreement set the ambitious goals of keeping global temperature rise this century below 2°C, or even better, 1.5°C above preindustrial levels. Substantial interventions are required to meet these goals, particularly for industrialized countries. Duan et al. projected that China will need to reduce its carbon emissio...

Allowing delayed climate mitigation actions and overshoot of temperature targets requires large scale negative carbon emissions that may induce adverse side-effects on land, food and ecosystems in the second half of this century. Meanwhile, meeting climate goals without net negative emissions inevitably needs the implementation of early and quick e...

Global emissions scenarios play a critical role in the assessment of strategies to mitigate climate change and their related societal transformations. The current generation of scenarios, however, are criticized because they rely heavily on net negative CO2 emissions (NNCE) that result from allowing temperature limits to be temporarily exceeded. In...

Closing the remaining emissions gap between Nationally Determined Contributions (NDCs) and the global emissions levels needed to achieve the Paris Agreement’s climate goals will likely require a comprehensive package of policy measures. National and sectoral policies can help fill the gap, but success stories in one country cannot be automatically...

This study examines model-specific assumptions and projections of methane (CH4) emissions in deep mitigation scenarios generated by integrated assessment models (IAMs). For this, scenarios of nine models are compared in terms of sectoral and regional CH4 emission reduction strategies, as well as resulting climate impacts. The models’ projected redu...

Several studies have shown that the greenhouse gas reduction resulting from the current nationally determined contributions (NDCs) will not be enough to meet the overall targets of the Paris Climate Agreement. It has been suggested that more ambition mitigations of short-lived climate forcer (SLCF) emissions could potentially be a way to reduce the...

The overlap in sources of greenhouse gas and local air pollutant emissions creates scope for policy measures to limit global warming and improve air quality simultaneously. In a first step, we derive estimates for the air pollution mortality-related component of the social cost of atmospheric release for 6 pollutants and 56 regions in the world. Co...

Bioenergy is expected to play an important role in long-run climate change mitigation strategies as highlighted by many integrated assessment model (IAM) scenarios. These scenarios, however, also show a very wide range of results, with uncertainty about bioenergy conversion technology deployment and biomass feedstock supply. To date, the underlying...

The relatively short atmospheric lifetimes of methane (CH 4) and black carbon (BC) have focused attention on the potential for reducing anthropogenic climate change by reducing Short-Lived Climate Forcer (SLCF) emissions. This paper examines radiative forcing and global mean temperature results from the Energy Modeling Forum (EMF)-30 multi-model su...

Many countries have implemented national climate policies to accomplish pledged Nationally Determined Contributions and to contribute to the temperature objectives of the Paris Agreement on climate change. In 2023, the global stocktake will assess the combined effort of countries. Here, based on a public policy database and a multi-model scenario a...

This edition of the Global Energy and Climate Outlook (GECO) analyses the role of electrification in global transition pathways to a low Greenhouse Gas (GHG) emissions economy. Electricity is found to be an increasingly important energy carrier in final energy consumption already in the absence of stronger climate policies than those currently in p...

Many countries are formulating a long-term climate strategy to be submitted to the United Nations Framework Convention on Climate Change by 2020. Model-based, multi-disciplinary assessments can be a key ingredient for informing policy makers and engaging stakeholders in this process.

Under the Paris Agreement, countries committed to a variety of climate actions, including post-2020 greenhouse gas (GHG) emissions reduction targets. This study compares projected GHG emissions in the G20 economies under current climate policies to those under the GHG targets outlined in the nationally determined contributions (NDCs). It is based o...

Integrated assessment models are extensively used in the analysis of climate change mitigation and are informing national decision makers as well as contribute to international scientific assessments. This paper conducts a comprehensive review of techno-economic assumptions in the electricity sector among fifteen different global and national integ...

Local air quality co-benefits can provide complementary support for ambitious climate action and can enable progress on related Sustainable Development Goals. Here we show that the transformation of the energy system implied by the emission reduction pledges brought forward in the context of the Paris Agreement on climate change (Nationally Determi...

The Paris Agreement—which is aimed at holding global warming well below 2 °C while pursuing efforts to limit it below 1.5 °C—has initiated a bottom-up process of iteratively updating nationally determined contributions to reach these long-term goals. Achieving these goals implies a tight limit on cumulative net CO2 emissions, of which residual CO2...

From a price range between 100 and 120 USD (U.S. dollars) per barrel in 2011–2014, the crude oil price fell from mid-2014 onwards, reaching a level of 26 USD per barrel in January 2016. Here we assess the economic consequences of this strong decrease in the oil price. A retrospective analysis based on data of the past 25 years sheds light on the vu...

The Paris Agreement is a milestone in international climate policy as it establishes a global mitigation framework towards 2030 and sets the ground for a potential 1.5 °C climate stabilization. To provide useful insights for the 2018 UNFCCC Talanoa facilitative dialogue, we use eight state-of-the-art climate-energy-economy models to assess the effe...

The EU remains widely dependent on external gas supplies, with imports representing 70% of its consumption in 2013. Member States have different import profiles with divergent levels of dependency on Russian imports. Several European Member States rely heavily on Russian supplies, which shows that the EU gas supply security needs to be examined bot...

This study shows that achieving the climate change mitigation target of staying below 2°C temperature rise is possible technically – thanks to an acceleration of decarbonisation trends, an increased electrification of final demand and large changes in the primary energy mix that include a phase out of coal and a reduction of oil and gas – and is co...

Global Energy and Climate Outlook 2017: How climate policies improve air quality - Global energy trends and ancillary benefits of the Paris Agreement This study shows that achieving the climate change mitigation target of staying below 2°C temperature rise is possible technically – thanks to an acceleration of decarbonisation trends, an increased e...

The use of shale gas is commonly considered as a low-cost option for meeting ambitious climate policy targets. This article explores global and country-specific effects of increasing global shale gas exploitation on the energy markets, on greenhouse gas emissions, and on mitigation costs. The global techno-economic partial equilibrium model POLES (...

The United Nations-led international climate change negotiations in Paris in December 2015 (COP21) trigger and enhance climate action across the globe. This paper presents a model-based assessment of the Paris Agreement. In particular, we assess the mitigation policies implied by the Intended Nationally Determined Contributions (INDCs) put forward...

The report describes the importance of oil for oil exporting countries and analyses the potential economic effects that current low oil prices may have in their economy and political stability. Firstly, the report describes the main drivers that have led to the present low oil prices. Secondly, descriptive statistics are employed to show the exposu...

According to the IEA World Energy Outlook 2012, primary demand for bioenergy will strongly increase up to the year 2035: the demand for biofuels and biomass for electricity is expected to triple. These changes will have an impact on the regional balance of demand and supply of bioenergy leading to both increasing trade flows and changes in trade pa...

This report investigates the effects of an increased exploitation of shale gas reserves around the globe and the extent to which it can serve as a low-cost GHG mitigation option. We compare a scenario of global shale gas exploitation with a scenario in which shale gas use is very limited. Both scenarios are modelled with the global techno-economic...

In the coming decades, huge challenges in the global energy system are expected. Scenarios indicate that bioenergy will play a substantial role in this process. However, up to now there is very limited insight regarding the implication this may have on bioenergy trade in the long term. The objectives of this chapter are: (1) to assess how bioenergy...