Jessica Jewell: Fossil fuel subsidies and climate change
CET is happy to announce the upcoming seminar with Jessica Jewell on Wednesday November 22nd.
Fossil fuel subsidies and climate change
Fossil fuel subsidies are often blamed for thwarting efforts to mitigate climate change. A number of countries and international organizations advocate fossil fuel subsidy phase-out using the opportunity of today’s low oil prices. The talk explores how these initiatives stack up against the Paris climate commitments using results from five integrated assessment models. We find that removing subsidies in most regions would deliver smaller emission reductions than existing climate pledges and in some regions global subsidy removal may actually increase emissions. Subsidy removal would result in the largest CO2 emission reductions in oil and gas exporting regions where it can outperform their climate pledges and also impact fewer poor people than in lower income regions. Globally, subsidy removal would have a small impact on global energy demand and CO2 emissions but would not increase renewable energy use. Subsidy removal would reduce the carbon tax necessary to stabilize greenhouse gas concentration at 550 ppm by 2-12%.
Jessica Jewell is Visiting Professor in the Centre for Climate and Energy Transformations and the Geography Department at the University of Bergen and a Research Scholar in the Energy Program at the International Institute for Applied Systems Analysis. Her research focuses on understanding how political, economic, and technological constraints shape future energy systems in different countries. She has published on energy security under decarbonization scenarios, nuclear energy prospects and the political economy of energy transitions in journals such as Energy Policy, Climatic Change and Nature Energy. She also serves on the editorial board of Energy Research and Social Science as well as the Routledge series on Energy Transitions.