“The assessment indicates that limiting global warming to 1.5 ˚C is not impossible, but the challenges are unprecedented. The feasibility of meeting the target involves multiple dimensions, and several links, synergies, and trade-offs are identified in the report.

The economics of 1.5°C is a very new field, and plenty of attention is being given to abatement costs, but the emerging literature also suggests large potential reduction in economic damages when limiting global warming 1.5 ˚C relative to 2 ˚C.

The assessment shows that stringent and integrated policy portfolios are urgently needed to keep the 1.5 ˚C within reach. Whereas carbon pricing is essential to prompt to mitigation pathways compatible with the 1.5 ˚C goal, it needs to be supported by other policies. Other critical enabling conditions identified in the assessment include effective international cooperation, access to finance, sustainable consumption, behavioural change and emphasis on equality and ecosystem services”, says Luis Mundaca.

Contact:
Luis Mundaca
luis [dot] mundaca [at] iiiee [dot] lu [dot] se
+46 46 222 02 57