Implications of the Paris Agreement on Stranded Assets in Latin America and the Caribbean: The Case of Gas-fired Power Plants and Oil Reserves
Date: Wednesday, October 30th, 2019.Time: 09:00 – 10:30 am (Time in Costa Rica, CST)Verify the time according to your location: http://bit.ly/35XeqIA
Agenda
Welcome. Aida Figari. Technical expert of the LEDS LAC Secretariat, Libélula Peru.
Long-term decarbonization strategies: an instrument to anticipate and avoid stranded assets in the transition to zero net emissions. Adrien Vogt-Schilb. Senior Economist, Inter-American Development Bank.
Implications of climate targets for oil production and tax revenues in Latin America and the Caribbean. Baltazar Solano-Rodriguez. Senior Researcher in Energy Systems Modeling, UCL Energy Institute (University College London). | Download presentation
Committed emissions and the risk of stranded assets in the Latin American and Caribbean electricity sector. Esperanza González-Mahecha. Climate change consultant, Inter-American Development Bank. | Download presentation
About the webinar
A zero-carbon economy is necessary to stabilize the climate. It is worth saying that this economy is technically feasible and comes with opportunities for the development of Latin American countries. However, the energy transition can generate losers and winners, which can make its implementation politically difficult.
For example, several countries in the region depend on oil tax revenues, but demand may be affected by the global transition to electric vehicles, renewable energy and the implementation of the Paris Agreement. A study by the IDB and UCL shows that 66-81% of oil reserves in LAC could remain untapped by 2035, which could cost the region up to $4 trillion in royalties.
Another example is the electricity sector. A second study accounts for the CO2 emissions that will be emitted during the operation of existing and planned power plants during their useful life. This study concludes that 10% to 16% of existing power plants may need to be “abandoned” to meet the goals of the Paris agreement, and that building more gas, oil or coal-fired plants in the region may be inconsistent with these goals.
This webinar will explain how long-term decarbonization strategies can be an instrument to anticipate and avoid stranded assets in the transition to zero net emissions. The webinar will be held in Spanish. If you have any questions about this event, please contact the LAC LEDS Platform Secretariat: info@ledslac.org
About the panelists
Adrien is a senior climate change economist at the Inter-American Development Bank. His work focuses on the design of effective and politically acceptable emission-reduction policies: how to align NDC implementation with local development goals and the long-term decarbonization imperative while navigating the political economy. Adrien is an engineer, holds a PhD in climate economics and is the author of 3 books and more than 15 academic papers on decarbonization and development.Baltazar is a senior researcher in Energy Systems Modelling at the UCL Energy Institute. He specializes in the use and development of energy models for studies related to decarbonisation pathways and the quantitative assessment of transition risks. Prior to joining UCL, Baltazar worked as modeller for AEA Technology, the UK’s National Nuclear Laboratory and Schlumberger.
Consultant at IDB Climate Change Division. Economist with a specialization in Statistics from the National University of Colombia. She holds a master’s degree and a PhD in Energy Planning from COPPE/UFRJ in Brazil. She worked in Colombia in institutions such as the Regulatory Agency for Water and Sanitation, Mining and Energy Planning Unit of Colombia, Ecopetrol S.A., and Colombian Energy Observatory. Prior to join the IDB, Esperanza was part of the Center for Energy and Environmental Economics (CENERGIA) in Rio de Janeiro.
This webinar is co-organized with: