Stranded Assets ? How to build infrastructure in times of (climate) crises
Sprache des Titels:
The IPCC Special Report 2018 stated that if global warming wants to be limited to 1.5°C annual average investment in the energy system of around 2.4 trillion USD between 2016 and 2035 are needed. While these 2.4 trillion USD are to be materialized, big investments are still made in fossil-fuel power plants.
Energy is not the only sector where ?dirty? infrastructure may become a considerable barrier for a transition into a low-carbon economy. Given the long lifetime of infrastructures and the high costs to build them, such ?dirty? capital stocks not only undermine climate targets and policies. They also divest much needed financial resources and put national economic development on an unsustainable path.
In this workshop we will explore the following questions:
? Will fossil-based infrastructure become a devalued ?stranded asset? in the near future, when climate change enforces a rapid fossil-fuel phase out?
? How can a transition to clean infrastructure be financed? Would environmental taxes (especially carbon taxes) be a viable instrument? What is the optimal mix between taxes and subsidies?
? Which consequences may arise for resource-rich developing countries that depend heavily on fossil fuel exports?
Officials, scholars, students and members of NGOs interested in environmental, economic and fiscal political economy and development are cordially invited to attend.