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Assessing regional progress towards a ‘Green Energy Economy’

Mundaca, Luis LU and Markandya, Anil (2016) In Applied Energy 179. p.1372-1394
Abstract

This paper provides a regional, empirical analysis of policy portfolios that aim to contribute towards a ‘Green Energy Economy’ (GEE) transformation. Taking green economy policies and related indicators as the analytical framework, the study examines (i) the composition of policy portfolios promoting low-carbon energy technologies, (ii) short-term trends related to the GEE, (iii) long-term empirical observations of GEE-related factors, and (iv) whether, given these results, CO2 emission reduction targets can be met. The study focuses on the following regions: Africa, Asia, Latin America and the Caribbean, the Middle East, Non-OECD Europe and countries from the Former Soviet Union, Oceania, OECD Europe, and OECD North America.... (More)

This paper provides a regional, empirical analysis of policy portfolios that aim to contribute towards a ‘Green Energy Economy’ (GEE) transformation. Taking green economy policies and related indicators as the analytical framework, the study examines (i) the composition of policy portfolios promoting low-carbon energy technologies, (ii) short-term trends related to the GEE, (iii) long-term empirical observations of GEE-related factors, and (iv) whether, given these results, CO2 emission reduction targets can be met. The study focuses on the following regions: Africa, Asia, Latin America and the Caribbean, the Middle East, Non-OECD Europe and countries from the Former Soviet Union, Oceania, OECD Europe, and OECD North America. Findings reveal that low-carbon energy technology policies have spread rapidly since the 2000s. Economics incentives are widespread across all regions, highlighting the growing use of market-based policies. The short-term analysis shows that per capita income growth (and to a lesser extent population growth) are the main obstacles to transition towards a GEE transformation. From a longer-term perspective, results are highly consistent and show no, or limited, progress in making the transformation. Relative improvements in efficiency have not offset the negative effects of growing economic activity, suggesting that this factor per se is a roadblock to GEE transformation. From a policy perspective, the analysis strongly suggests that, despite a plethora of policy initiatives aimed at the market uptake of low-carbon energy technologies, the impacts on key areas of a GEE remain insufficient. A far more ambitious and integrated policy approach is needed to transition towards a GEE, particularly if emission reduction targets in line with a 2 °C mitigation scenario are to be met.

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author
organization
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type
Contribution to journal
publication status
published
subject
keywords
Decomposition analysis, Economic instruments, Environmental effectiveness, Green energy economy, Low-carbon technology policy portfolios
in
Applied Energy
volume
179
pages
23 pages
publisher
Elsevier
external identifiers
  • scopus:84947996736
  • wos:000383291800112
ISSN
0306-2619
DOI
10.1016/j.apenergy.2015.10.098
language
English
LU publication?
yes
id
2f103d9c-82f3-400c-a8f1-d95b1fd30b66
date added to LUP
2016-10-21 13:02:31
date last changed
2017-10-08 04:53:42
@article{2f103d9c-82f3-400c-a8f1-d95b1fd30b66,
  abstract     = {<p>This paper provides a regional, empirical analysis of policy portfolios that aim to contribute towards a ‘Green Energy Economy’ (GEE) transformation. Taking green economy policies and related indicators as the analytical framework, the study examines (i) the composition of policy portfolios promoting low-carbon energy technologies, (ii) short-term trends related to the GEE, (iii) long-term empirical observations of GEE-related factors, and (iv) whether, given these results, CO<sub>2</sub> emission reduction targets can be met. The study focuses on the following regions: Africa, Asia, Latin America and the Caribbean, the Middle East, Non-OECD Europe and countries from the Former Soviet Union, Oceania, OECD Europe, and OECD North America. Findings reveal that low-carbon energy technology policies have spread rapidly since the 2000s. Economics incentives are widespread across all regions, highlighting the growing use of market-based policies. The short-term analysis shows that per capita income growth (and to a lesser extent population growth) are the main obstacles to transition towards a GEE transformation. From a longer-term perspective, results are highly consistent and show no, or limited, progress in making the transformation. Relative improvements in efficiency have not offset the negative effects of growing economic activity, suggesting that this factor per se is a roadblock to GEE transformation. From a policy perspective, the analysis strongly suggests that, despite a plethora of policy initiatives aimed at the market uptake of low-carbon energy technologies, the impacts on key areas of a GEE remain insufficient. A far more ambitious and integrated policy approach is needed to transition towards a GEE, particularly if emission reduction targets in line with a 2 °C mitigation scenario are to be met.</p>},
  author       = {Mundaca, Luis and Markandya, Anil},
  issn         = {0306-2619},
  keyword      = {Decomposition analysis,Economic instruments,Environmental effectiveness,Green energy economy,Low-carbon technology policy portfolios},
  language     = {eng},
  month        = {10},
  pages        = {1372--1394},
  publisher    = {Elsevier},
  series       = {Applied Energy},
  title        = {Assessing regional progress towards a ‘Green Energy Economy’},
  url          = {http://dx.doi.org/10.1016/j.apenergy.2015.10.098},
  volume       = {179},
  year         = {2016},
}