POLICY PRESCRIPTIONS FOR A DECARBONIZED ECONOMY
The Deep Decarbonization Pathways Project is a consortium of energy researchers from the 16 countries which are the world’s largest GHG emitters. In mid-September, the DDPP released a Synthesis Report and 16 country studies, outlining policy directions for long-term (to 2050). The Canadian report identifies six decarbonization pathways under three main themes: Deepening Current Trends, Encouraging next generation technologies; and Structural Economic Pathways, for which the report simulated oil price scenarios of $114, $80 and $40 per barrel in current dollars in 2050. The Canada report recommends “regulations that strengthen existing policies for buildings and transport sectors, a cap and trade system to drive abatement in heavy industry, and finally a complementary carbon price on the rest of the economy that returns revenues to reduced income and corporate taxes”. All DDPP reports will be tabled at the COP21 meetings in Paris in December.
