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  Alternative carbon price trajectories can avoid excessive carbon removal

Strefler, J., Kriegler, E., Bauer, N., Luderer, G., Pietzcker, R. C., Giannousakis, A., Edenhofer, O. (2021): Alternative carbon price trajectories can avoid excessive carbon removal. - Nature Communications, 12, 2264.
https://doi.org/10.1038/s41467-021-22211-2

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???ViewItemFull_lblCiteItemAs???: https://publications.pik-potsdam.de/pubman/item/item_25351 ???ViewItemFull_lblCiteItemVersionAs???: https://publications.pik-potsdam.de/pubman/item/item_25351_8
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Strefler, Jessica1, ???ENUM_CREATORROLE_AUTHOR???           
Kriegler, Elmar1, ???ENUM_CREATORROLE_AUTHOR???           
Bauer, Nicolas1, ???ENUM_CREATORROLE_AUTHOR???           
Luderer, Gunnar1, ???ENUM_CREATORROLE_AUTHOR???           
Pietzcker, Robert C.1, ???ENUM_CREATORROLE_AUTHOR???                 
Giannousakis, Anastasis1, ???ENUM_CREATORROLE_AUTHOR???           
Edenhofer, Ottmar1, ???ENUM_CREATORROLE_AUTHOR???                 
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1Potsdam Institute for Climate Impact Research, ou_persistent13              

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 ???ViewItemFull_lblAbstract???: The large majority of climate change mitigation scenarios that hold warming below 2 °C show high deployment of carbon dioxide removal (CDR), resulting in a peak-and-decline behavior in global temperature. This is driven by the assumption of an exponentially increasing carbon price trajectory which is perceived to be economically optimal for meeting a carbon budget. However, this optimality relies on the assumption that a finite carbon budget associated with a temperature target is filled up steadily over time. The availability of net carbon removals invalidates this assumption and therefore a different carbon price trajectory should be chosen. We show how the optimal carbon price path for remaining well below 2 °C limits CDR demand and analyze requirements for constructing alternatives, which may be easier to implement in reality. We show that warming can be held at well below 2 °C at much lower long-term economic effort and lower CDR deployment and therefore lower risks if carbon prices are high enough in the beginning to ensure target compliance, but increase at a lower rate after carbon neutrality has been reached.

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 ???ViewItemFull_lblDates???: 2021-02-242021-04-152021-04-15
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???ENUM_IDENTIFIERTYPE_PIKDOMAIN???: Director / Executive Staff / Science & Society
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???ENUM_IDENTIFIERTYPE_ORGANISATIONALK???: Director Edenhofer
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???ENUM_IDENTIFIERTYPE_DOI???: 10.1038/s41467-021-22211-2
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???project_info_title??? : NAVIGATE - Next generation of AdVanced InteGrated Assessment modelling to support climaTE policy making
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???project_info_funding_info_program_title??? : Horizon 2020 (H2020)
???project_info_funding_info_organization_title??? : European Commission (EC)
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???ViewItemFull_lblSourceTitle???: Nature Communications
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