EEIST’s findings

The EEIST project has produced three major reports over the last three years:

EEIST’s first report, ‘The new economics of innovation and transition: evaluating opportunities and risks’, shows how policies critical to the most outstanding successes so far in low-carbon transitions in China, India, Brazil, the UK and EU were generally implemented ‘despite, not because of, the predominant economic analysis and advice’.

Foreword first supported the deployment of offshore wind, it generated around three times the market price. Few people guessed that within a would fall by 70 per cent, allowing offshore wind to provide electricity market price.

The second report, ‘Ten principles for policymaking in the energy transition: lessons from experience’, offers governments new methods to use policy to accelerate clean technology transitions to drive action on climate goals.

aimed to deploy 20 GW of offshore wind in the UK by 2030. With the announcement last year Ten Point Plan for a Green Industrial Revolution, we doubled that target to 40 GW by 2030 –every home in the country. Meanwhile, the number of high-quality jobs supported by the industry and continues to grow.

that progress in clean technologies has been faster than expected. The amount of solar power 2020 was over ten times higher than experts had forecast only fifteen years before. Similarly, the share of electric vehicles in global car sales continue to be revised radically upward. As we of the Paris Agreement within reach, and to maximise the benefits of the transition to net zero that we learn the lessons of these successes.

Government issued new guidance on policy appraisal in contexts of transformational change. This the future is uncertain, the aim of analysis is less to predict outcomes precisely, and more to find – places where a small intervention can have a large effect. I am delighted that researchers from and Brazil are working together to deepen our understanding of where such leverage points for change can be found, and to apply this to addressing climate change and ecosystem degradation, our challenge.

Energy Agency has estimated that without international collaboration, the transition to net zero global delayed by decades. On the other hand, if we work together, we can innovate faster, realise larger and create stronger incentives for investment. As countries of the world come together at COP26, this positive vision. With determined action and sustained collaboration, we can create new opportunities while securing a safe climate for the future.

Nick Bridge

Foreign Secretary's Special Representative for Climate Change Foreign, Commonwealth & Development Office

EEIST’s third report, ‘New economic models of energy innovation and transition: addressing new questions and providing better answers’, provides a treasure chest of real-life examples from EEIST’s global network of partners that show how this new economic modelling has worked to inform timely policy questions, and how it can work in the future to save trillions of dollars.

Case studies cover the global transition, and country-level studies on the power sector and industry, transport, agriculture, finance, and the impact of the transition. For example, analysis in this report suggests that, in Brazil, jobs and lower-emission development paths don’t have to be at odds with each other and in fact these development paths will likely help boost jobs. Other examples include: the macroeconomic impacts of achieving net zero in India by 2070, and the social consequences of the coal transition in China.