Page - 6 - in options, Volume summer 2019

News in brief Today, an estimated 40 million people live without electricity, 663 million lack improved sources of drinking water, 2.4 billion lack improved sanitation facilities, one billion live more than two kilometers from an all-season road, and four billion people lack internet access. A new World Bank report provides analyses of investments needed to solve these challenges while staying on track to limit global warming to less than 2°C. IIASA researchers contributed to two chapters of the report focused on energy systems and irrigation, and calculated investments needed to achieve other Sustainable Development Goals, including access to water and education, and reducing air pollution. The irrigation analysis showed that investments in irrigation infrastructure could play an important role in adaptation to the most adverse climate change. Increased water scarcity may however also limit adaptation potentials. Investments required for energy system transformation are substantially larger than other sectors. To meet countries’ commitments to the Paris Agreement, an additional US$130 billion of annual investment will be needed by 2030. To achieve the 2°C target the gap is US$320 billion and for 1.5°C it is US$480 billion. Overall, the report finds that investments of 4.5% of GDP would allow developing countries to achieve their infrastructure goals while limiting climate change. This amount is similar to what many countries already spend on infrastructure and no more expensive than other options. Investment needs for climate-friendly infrastructure Further info: Rozenberg, Julie, Fay, Marianne. 2019. Beyond the Gap: How Countries Can Afford the Infrastructure They Need while Protecting the Planet. Sustainable Infrastructure; Washington, DC: World Bank. Amanda Palazzo: palazzo@iiasa.ac.at Addressing climate change would have global benefits for future generations, but for some, it’s hard to justify investments that they believe will only pay off in the future. A study by IIASA and Princeton University, however, shows that climate action would have significant economic benefits for current generations through reduced health impacts. Since air pollutants and the gases that cause climate change come from the same sources, action to reduce greenhouse gas emissions would also improve air quality. Previous IIASA research established significant co-benefits of tackling climate change and air pollution through integrated policies. The new study adds a health perspective to this analysis. The researchers combined the cost of reducing emissions with the potential health co-benefits of climate policy, which have traditionally been excluded in cost-benefit models that estimate how much the world should pay to reduce carbon emissions. When put together, the researchers found immediate net benefits globally from climate policy investments. “One of the most important insights of this study is that, when you consider additional facets of an already complex problem like climate change, new mechanisms may emerge that help to address the original problem,” says IIASA researcher Fabian Wagner. “Our approach illustrates the power of modern systems analysis: identifying sweet spots for decision makers where apparently conflicting objectives can be resolved at a higher level of integration.” Further info: Scovronick N, Budolfson M, Dennig F, Errickson F, Fleurbaey M, Peng W, Socolow RH, Spears D, & Wagner F (2019). The impact of human health co-benefits on evaluations of global climate policy. Nature Communications 10: e2095 [pure.iiasa.ac.at/15897] Fabian Wagner: wagnerf@iiasa.ac.at Climate action could pay off today www.iiasa.ac.at6 Options Summer 2019