An international consortium of world-class universities, led by Charles University, will address one of today’s most pressing social and political issue: the environmental crisis induced by climate change. Researchers will develop new economic knowledge to improve climate change adaptation and mitigation policies. The research will notably provide insight in line with the 2030 climate and energy framework of the European Commission.
To execute this project, the European Commission has signed a Grant Agreement for the research project Global Excellence in Modeling Climate and Energy Policies (GEOCEP) on 27 November 2019. This interdisciplinary project connects the frontiers of climate change and energy economics with state-of-the-art natural and social sciences.
Researchers aim to achieve scientific breakthroughs in creating new generations of models enabling a sophisticated economic analysis. “Researchers will utilise a wide range of integrated assessment economic and hybrid models,” says GEOCEP Coordinator Milan Ščasný. “These models include the analysis of social and technological innovations, new business and services models, and the need for flexibility in demand to support the energy transition to a zero-carbon economy. We will analyse consumer and firm behaviour, the impacts on the economy, energy use, the environment, and human health” adds Ščasný.
Between 2020 and 2024, researchers will travel to deploy a worldwide knowledge network over five continents. They will come from six top research institutions in the European Union and sixteen other prestigious institutions in the rest of the world. Beneficiary institutions include CMCC, ETH Zurich, the London School of Economics, Toulouse School of Economics, and the University of Oxford. Partner institutions include notably the universities of California, Columbia, Harvard, Maryland, Princeton, Stanford, and Yale.
“We are looking forward to having high-quality research scientists coming to Charles University and, the other way around, to send researchers from Prague to high-quality research institutions abroad. We foresee about sixty researchers from Charles University will participate,” says GEOCEP deputy coordinator Karel Janda.
“GEOCEP project is relevant not just for researchers directly working on the economics of climate change or energy but also to those whose contributions in economic techniques supporting this project, such as econometric modelling,” Janda adds.
GEOCEP will identify institutional and political obstacles to implementing efficient solutions to control for the global carbon externality. It will investigate an array of effective policies focused on increasing energy efficiency, reducing emissions and related environmental and health externalities, and promoting renewable energy.