chapter  1
44 Pages

Introduction

This article contributes to the UK-Japan modelling comparison project by developing and analysing global low-carbon society (LCS) scenarios using a global macro-econometric model, E3MG. In common with the other contributions, we set out three scenarios: (i) a base case and (ii) a rising carbon price case, both of which include endogenous technological change;1 and (iii) a carbon-plus case, which incorporates additional policy measures to accelerate the development and deployment of low-carbon technologies through regulation and fiscal incentives.