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Economics of climate change mitigation

Ekins, Paul; (2023) Economics of climate change mitigation. In: Stopping Climate Change: Policies for Real Zero. (pp. 282-321). Routledge: London, UK. Green open access

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Abstract

Carbon emission reduction can be brought about by a wide range of technologies, developed and deployed through innovation and investment in both technologies and the skills needed to operate them. Such investment is still well short of where it needs to be for ‘real zero’ by 2050. What is required to bring about more investment is greater zero-carbon ambition from businesses, more transparency in how they intend to achieve it, and government that is prepared to intervene strategically in markets to ensure that businesses can deliver large emissions reductions and remain profitable. Investment in the transition to clean energy will lead to a net increase in jobs, and, contrary to degrowth literature, to economic growth. The reduction and then elimination of fossil fuel use, and improving the diets of affluent people, will result in a number of benefits apart from greenhouse gas (GHG) emissions reduction, called ‘co-benefits’, the largest being health benefits from improvement in both outdoor and indoor air quality, from greater active travel in cities, and from reducing excess meat and dairy consumption. Afforestation and better land management that stores carbon should also improve ecosystems and lead to increased biodiversity.

Type: Book chapter
Title: Economics of climate change mitigation
ISBN-13: 9781003438007
Open access status: An open access version is available from UCL Discovery
DOI: 10.4324/9781003438007-12
Publisher version: https://doi.org/10.4324/9781003438007-12
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/10190194
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