Energy investment needs for fulfilling the Paris Agreement and achieving the 
Sustainable Development Goals

McCollum, D. L.; Zhou, W.; Bertram, Christoph; Boer, H.-S. de; Bosetti, V.; Busch, S.; Deprés, J.; Drouet, L.; Emmerling, J.; Fay, M.; Fricko, O.; Fujimori, S.; Gidden, M.; Harmsen, M.; Huppmann, D.; Iyer, G.; Krey, V.; Kriegler, Elmar; Nicolas, C.; Pachauri, S.; Parkinson, S.; Poblete-Cazenave, M.; Rafaj, P.; Rao, N.; Rozenberg, J.; Schmitz, A.; Schoepp, W.; Vuuren, D. P. van; Riahi, K.

doi:10.1038/s41560-018-0179-z

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Energy investment needs for fulfilling the Paris Agreement and achieving the Sustainable Development Goals

Authors

McCollum, D. L.
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Zhou, W.
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/persons/resource/Bertram

Bertram, Christoph
Potsdam Institute for Climate Impact Research;

Boer, H.-S. de
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Bosetti, V.
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Busch, S.
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Deprés, J.
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Drouet, L.
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Emmerling, J.
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Fay, M.
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Fricko, O.
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Fujimori, S.
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Gidden, M.
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Harmsen, M.
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Huppmann, D.
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Iyer, G.
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Krey, V.
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/persons/resource/Elmar.Kriegler

Kriegler, Elmar
Potsdam Institute for Climate Impact Research;

Nicolas, C.
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Pachauri, S.
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Parkinson, S.
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Poblete-Cazenave, M.
External Organizations;

Rafaj, P.
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Rao, N.
External Organizations;

Rozenberg, J.
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Schmitz, A.
External Organizations;

Schoepp, W.
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Vuuren, D. P. van
External Organizations;

Riahi, K.
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Citation

McCollum, D. L., Zhou, W., Bertram, C., Boer, H.-S.-d., Bosetti, V., Busch, S., Deprés, J., Drouet, L., Emmerling, J., Fay, M., Fricko, O., Fujimori, S., Gidden, M., Harmsen, M., Huppmann, D., Iyer, G., Krey, V., Kriegler, E., Nicolas, C., Pachauri, S., Parkinson, S., Poblete-Cazenave, M., Rafaj, P., Rao, N., Rozenberg, J., Schmitz, A., Schoepp, W., Vuuren, D. P. v., Riahi, K. (2018): Energy investment needs for fulfilling the Paris Agreement and achieving the Sustainable Development Goals. - Nature Energy, 3, 7, 589-599.
https://doi.org/10.1038/s41560-018-0179-z

Cite as: https://publications.pik-potsdam.de/pubman/item/item_22493

Abstract

Low-carbon investments are necessary for driving the energy system transformation that is called for by both the Paris Agreement and Sustainable Development Goals. Improving understanding of the scale and nature of these investments under diverging technology and policy futures is therefore of great importance to decision makers. Here, using six global modelling frameworks, we show that the pronounced reallocation of the investment portfolio required to transform the energy system will not be initiated by the current suite of countries’ Nationally Determined Contributions. Charting a course toward ‘well below 2 °C’ instead sees low-carbon investments overtaking fossil investments globally by around 2025 or before and growing thereafter. Pursuing the 1.5 °C target demands a marked upscaling in low-carbon capital beyond that of a 2 °C-consistent future. Actions consistent with an energy transformation would increase the costs of achieving the goals of energy access and food security, but reduce the costs of achieving air-quality goals.