The Energy Transition, NDCs, and the Post-COP21 Agenda

IMF Seminars, January 1, 1901

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The Energy Transition, NDCs, and the Post-COP21 Agenda

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Bibliographic details

• Published: January 1, 1901

Overview and Objectives

• The International Monetary Fund, the Center on Global Economic Governance at Columbia University and the OCP Policy Center organized a High Level Seminar, supported by the COP22 Scientific Committee, under the theme of “The Energy Transition, NDCs, and the Post-COP21 Agenda”.
• The seminar took place on September 8 th and 9 th, 2016 in Marrakech, Morocco.
• The timing was aligned with Marrakech gearing up to host COP22, described as “the COP of actions,” enabling participants to contribute to the COP22 debate and broader discourse on climate change and the energy transition.
• Attendance is by invitation only.

Major Themes and Policy Focus

• Energy transition dynamics and their macroeconomic, fiscal, and distributional consequences.
• Carbon pricing: principles, country-level implementation, and the use of fiscal instruments to address externalities and raise revenue.
• Managing transitional risks associated with shifts away from fossil fuels.
• Dealing with uncertainty in climate policy: discounting, risk, robust and dynamic decision frameworks.
• Implementing climate agreements: credibility, technology diffusion, conservation, infrastructure, finance, and policy instruments suitable for developing countries.

Sessions, Topics, and Key Discussion Points

• Session I: The Energy Transition and Its Consequences
  • Chairs and speakers addressed structural and macroeconomic consequences of the energy transition.
  • Topics listed: energy efficiency, climate and energy policy implications for growth and employment.
  • Notable presentations: “Energy and Climate: From Paris to Marrakesh and Beyond”; “Transitional Risks”.
• Session II: Carbon Pricing
  • Focus on fiscal instruments, country-specific impacts, and practical implementation of energy price reform.
  • Presentation titled “Getting Energy Prices Right” emphasized the role of fiscal policy to mitigate climate change and raise revenue.
  • Question addressed explicitly: “Should Carbon Pricing be Different Across Countries?”
• Session III: Dealing with Uncertainty
  • Analytical emphasis on decision theory under uncertainty, long-run discounting, and robustness of climate policy.
  • Presentations included “Climate Beta” and “Robust Dynamic Energy Use and Climate Change”.
• Session IV: Implementing Climate Agreements
  • Emphasized credibility of commitments, technology and conservation, infrastructure and climate finance, and perspectives from developing countries.
  • Presentations included “Improving Paris: Credibility, Technology, and Conservation” and “Perspective from Developing Countries”.
• Panel discussions linked infrastructure, finance, and climate policy to practical investment and institutional responses.

Key Participants and Roles

• Conference organizers: International Monetary Fund; Center on Global Economic Governance, Columbia University; OCP Policy Center; COP22 Scientific Committee (support).
• Chairs, moderators, and keynote speakers included:
  • Maurice Obstfeld — Economic Counsellor and Director, International Monetary Fund.
  • Martin Weitzman — Professor, Harvard University (Keynote).
  • Nizar Baraka — President, COP22 Scientific Committee (Keynote, Sept 9).
  • Prakash Loungani — Chair, Session I.
  • Natacha Valla — Chair, Session II.
  • Martin Weitzman — Chair, Session III.
  • Karim El Aynaoui — Chair, Session IV.
  • Patrick Bolton — Moderator for a panel on infrastructure, finance and climate.
• Selected speakers and discussants (roles preserved as given):
  • Philippe Benoit — International Energy Agency; presentation “Energy and Climate: From Paris to Marrakesh and Beyond”.
  • Rick van der Ploeg — Oxford University; presentation “Transitional Risks”.
  • Ian Parry — International Monetary Fund; presentation “Getting Energy Prices Right”.
  • Katheline Schubert — Paris School of Economics; presentation “Should Carbon Pricing be Different Across Countries?”
  • Christian Gollier — Toulouse School of Economics; presentation “Climate Beta”.
  • Ted Loch-Temzelides — Rice University; presentation “Robust Dynamic Energy Use and Climate Change”.
  • Bård Harstad — University of Oslo; presentation “Improving Paris: Credibility, Technology, and Conservation”.
  • Ujjayant Chakravorty — Resources for the Future; presentation “Perspective from Developing Countries”.
  • Thierry Deau, Gael Giraud, Frederic Samama, Ambroise Fayolle — participants in finance/infrastructure panel.

Practical and Logistical Details Highlighted

• The seminar schedule spanned two days: Thursday, September 8, 2016 and Friday, September 9, 2016.
• Specific session timing examples:
  • Coffee Break: 10:30 am—11:00 am (Sept 8 schedule context).
  • Lunch: 12:30 pm—2:00 pm (Sept 8 schedule context).
  • Dinner: 7:00 pm (Sept 8 schedule context).
  • Session IV timing example: 12:00 pm—1:30 pm (Sept 9 schedule context).
  • Panel Discussion timing example: 3:00 pm—3:30 pm (Sept 9 schedule context).
• Conference Program Committee: Rabah Arezki (IMF); Patrick Bolton (Columbia University); Karim El Aynaoui (OCP Policy Center).
• Conference Coordinators: Rim Berahab (OCP Policy Center); Rahel Kidane (IMF).

Content in this bundle

• Climatechangeinfopdf (PDF)
• Agendapdf (PDF)
• Benoitprespdf (PDF)
• Chakravortyprespdf (PDF)
• Gollierprespdf (PDF)
• Harstadprespdf (PDF)
• Parryprespdf (PDF)
• Ploegprespdf (PDF)
• Schubertprespdf (PDF)
• Temzelidesprespdf (PDF)
• Weitzmanprespdf (PDF)