We develop a theoretical model of directed technical change in which clean (zero emissions) and dirty (emissions-intensive) technologies are embodied in long-lived capital. We show how obsolescence costs generated by technological embodiment create inertia in a transition to clean growth....

Carbon Capture Utilization and Storage (CCUS) stands as a pivotal technology crucial for achieving the most ambitious climate objectives. Despite its prominent inclusion in energy mix projections, its current deployment falls short of the requisite level. Additionally, uncertainties surrounding...

Combining policies to remove carbon dioxide (CO2) from the atmosphere with policies to reduce emissions could decrease CO2 concentrations faster than possible via natural processes. We model the optimal selection of a dynamic portfolio of abatement, research and development (R&D), and negative...

This paper analyses how EU regions have aligned their innovation and policy endeavours to tackle exposure to the effects of Climate Change at regional level. Scholars hailed the need to orienting efforts and resources to tackle societal challenges. However, we have little empirical evidence on...

This policy note investigates whether the current level of public support to environment-friendly technologies is sufficient to allow European countries to respond to the multiple challenges posed by climate change and other environmental concerns. We first lay out the justifications for...

Myriad policy measures aim to reduce greenhouse gas emissions from the electricity sector, promote generation from renewable sources, and encourage energy conservation. To what extent do innovation and energy efficiency (EE) market failures justify additional interventions when a carbon price is...

The authors discuss about the current status of the world and try to explore sectors for the future entrepreneurs, policy analysts. The authors have tried to identify two most promising sectors for social entrepreneurs and policy enthusiasts to act upon for the challenges of the tomorrow. The...

Meeting the Paris Agreement target of maintaining global average temperature increases well below 2.0°C requires rapid innovation in climate-friendly, or green, technologies. A substantial literature has mapped the relationship between patent law and climate change, with the concern that...

This paper provides a model-based macroeconomic assessment of First-Mover Advantage (FMA) in environmental technologies, in which a European sector becomes world leader and captures the global market for a particular technology. The E3MG model is used to assess a set of scenarios where the FMA...