ICEED Promotes Energy Security and Environmental Protection
As the world grapples with the intricate challenges posed by climate change and threats to energy security, ICEED remains steadfast in its commitment to fostering sustainable solutions. Our core values and goals resonate deeply with the objectives of the 6th Annual National Bureau of Economic Research (NBER) Environmental and Energy Policy and the Economy Conference, held May 23, 2024, in Washington, D.C. This makes the event a pivotal platform for driving meaningful change.
We believe addressing environmental concerns and ensuring energy resilience are inextricably linked. The conference’s focus on integrating these critical spheres aligns seamlessly with our holistic approach to tackling complex global issues. We recognize that siloed efforts are insufficient; instead, we must adopt a comprehensive perspective that harmonizes economic growth, environmental stewardship, and energy security. Fostering collaboration and knowledge-sharing lies at the heart of ICEED’s mission.
Beyond policy discussions, ICEED recognizes the importance of catalyzing tangible action. The NBER conference serves as a platform to explore practical solutions, cutting-edge technologies, and scalable initiatives that can drive meaningful progress toward a sustainable future.
Pursuing to these goals, ICEED has partnered with the Royal Institute of International Affairs, commonly known as Chatham House, to coordinate research and analysis on carbon neutrality and energy security. We are eager to continue the collaboration with like-minded organizations and individuals, leveraging our collective expertise and resources to turn ambitious goals into reality.
Recognizing the Value of Temporary Emissions Reductions
A focus area at the NBER conference aligns with ICEED’s evidence-based approach – the role of temporary emissions reductions in climate policy. As highlighted in recent research (Groom and Venmans, 2024), temporary solutions can provide valuable additions to climate strategies, offering several benefits that must be weighed against the costs.
Temporary emissions reductions deliver temporary cooling and lower climate damages, providing a valuable flow of benefits, irrespective of long-term temperature trajectories. They also can produce permanent gains, such as technological progress through learning-by-doing, reduced likelihood of triggering tipping points, and preserving biodiversity by slowing the rate of warming.
From an economic perspective, the value of temporary reductions is inherently positive, stemming from the wellbeing they provide for people and communities. However, concerns around issues like discounting rates and intertemporal trade-offs must be addressed transparently.
Ultimately, all removal technologies, including temporary solutions, should be evaluated through a wellbeing lens, weighing their benefits against alternative approaches. Recent work on additionality highlights the importance of quality assurance, as non-additional solutions may offer limited equivalence to permanent emissions reductions.
As we navigate the complexities of the 21st century, ICEED remains resolute in its commitment to shaping a world where economic prosperity, environmental protection, and energy security coexist harmoniously. The 6th Annual NBER Environmental and Energy Policy and the Economy Conference presents a valuable opportunity to further this vision, fostering cross-sector collaboration, advancing evidence-based policymaking, and accelerating the transition toward a sustainable future for all.