What is GEOCEP? 

A project on climate and energy policy modelling

Global Excellence in Modeling Climate and Energy Policies (GEOCEP) is a European-funded project that provides an innovative economic modelling framework to aid in the energy transition to a zero-carbon economy. It incorporates transitional challenges such as social and technological innovations, the need for flexibility, and new business and service models. 

The project divided the research work in four packages: 

— The drivers of social and technology innovations;
— Integrated and hybrid modelling of climate change;
— Health and environmental impacts of climate change and ancillary benefits;
— Political economy, institutions, and development.

The project brings together world-class universities and a think-tank. It links the frontiers of climate change and energy economics with cutting-edge natural and social sciences knowledge for complex modelling.

An international network for knowledge transfers

Staff members on secondments help to facilitate global knowledge transfers. They sought to accomplish scientific advances by developing new generations of models that would allow for a detailed economic study of anthropogenic drivers as well as the effects and responses to climate change. 

The project recognises that the imposition of a global price on carbon emissions is the first-best policy in addressing the global externality of greenhouse gases as a significant driving force of climate change. As a result, it seeks to enhance modelling methods linked to carbon pricing and effect assessment. These methods are integrated assessment models, hybrid models, and theoretical and empirical models.

Supporting evidence-based policies

The project identifies institutional and political barriers to implementing first-best solutions to control global carbon externalities. As a result, it investigates a range of second-best energy and climate mitigation policies aimed at increasing energy efficiency, reducing emissions and related environmental and health externalities, and promoting renewable energy.

GEOCEP has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 681228.