Report of November 16, 2015
DIW Berlin and Universität Potsdam have carried out the research project “RESOURCES – Climate policies in the strategic markets of coal, oil, natural gas” since 2012 (until end 2015). The project is part of the funding program “Economics of Climate Change” of the German Federal Ministry of Education and Research which aims at fostering the discipline of climate economics in Germany. Dr. Franziska Holz and Roman Mendelevitch, together with project leader Prof. Dr. Anne Neumann (Universität Potsdam), presented the main project results and discussed them with scholars and stakeholders at the final conference of the research program. Among other topics, the project analyses showed that unilateral climate policies, even innovative supply-side policies, are limited in their effectiveness because fossil reserves and production capacities are plentiful in the global markets. It became clear that the strategic decision to phase out fossil resources to the benefit of renewable energies and energy efficiency can improve supply security and reduce greenhouse gas emissions.