Socio-economic energy-climate modelling for European green transition

The global M4G project aims to provide a comprehensive framework for socio-economic energy-climate modelling in support of EU climate and energy policies and the transition to net zero greenhouse gas emissions by 2050. M4G brings together leading universities and think tanks from around the world to advance the frontiers of energy and climate economics. Building on a large portfolio of existing projects, M4G promotes synergies through enhanced collaboration and knowledge transfer between European beneficiaries and associated partners. M4G emphasises inter- and multi-disciplinary research and links innovative economic modelling with humanities and social sciences disciplines including social psychology, sociology, law, and other social and natural sciences. A key component of M4G is to enhance the intellectual capacity and skills of PhD students and early-stage researchers. Funded secondments bring together leading global experts from different disciplines to collaborate on scientific breakthroughs and to develop next-generation models for complex economic analyses of the drivers of, and responses to, climate change impacts. To provide robust policy recommendations for EU energy and climate policy, M4G integrates lessons from different climate policies with modelling techniques that take into account social and earth systems. M4G develops models for carbon pricing and impact assessment using Integrated Assessment Models and hybridised behaviour-enriched economic and energy systems models. This approach creates a balanced portfolio of models that capture relevant factors and linkages within the European climate and energy initiatives. M4G is unique in its comprehensiveness and focus on understanding incentives. It enables markets to signal appropriate prices for carbon emissions, technologies and services, facilitating a fair and efficient green transition. M4G communicates advanced innovative research to policy makers and to the public at global and regional levels.