ECONOMIC IMPACT AND MITIGATION MEASURES OF REDUCING GREENHOUSE GAS EMISSIONS IN ASIAN COUNTRIES

Abstract

 Because of expected increases of GHG emissions due to population and economic growth, Asia is an important region for climate change mitigation. It's required to investigate the GHG reduction measures to achieve the 1.5°C goal set out in the Paris Agreement and to assess its economic impact. This study used an economic model to estimate energy system changes and economic impacts due to GHG emissions reductions up to 2050 in eight Asian countries and revealed the emission reduction measures in each country. Moreover performing multiple regression analysis based on the model calculation results, an estimation formula to explain the GDP loss was modeled and the factors of economic impact were analyzed. The results of the economic model show that the use of BECCS plays a significant role in all countries in the emission reduction based on the 1.5 °C goal. The estimation formula shows that the growth rate of GHG emissions, the share of energy in household expenditures, and GDP per capita would influence the GDP loss due to GHG emission reduction.