Managing Energy Technology Risks In Climate change mitigation Strategies

Strategies to mitigate climate change have been charted through long-term energy-climate scenarios. However, past scenarios have provided only little guidance for how the large uncertainties about the future should considered in the energy system and mitigation strategies. The uncertainties include scientific uncertainties about climate, the development of new energy technologies, and possible disruptive changes. This project develops new risk-management methodologies and uses stochastic dynamic programming (SDP) in IAM's to address these large risks. The topical results will focus on managing climatic and technological uncertainties; and also deep uncertainties relating to non-conventional mitigation methods, such as Solar Radiation Management. The results will portray real-world mitigation strategies that are able to hedge against the major risks involved in the climatic problem setting, and will be a major advancement in understanding the mankind's best response to climate change.