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Accounting for Carbon in Copenhagen | Morten Hojer

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The document discusses Copenhagen's efforts to become carbon neutral by 2025. It summarizes that over the past 20 years, Copenhagen's economy grew 25% while reducing GHG emissions 40%, showing that climate action and economic growth can go hand in hand. Copenhagen has identified initiatives that could reduce emissions by 1.2 million tons of CO2e annually through 2025, requiring major public and private investments totaling over 36 billion euros. The document argues Copenhagen's experience shows the economic benefits of early and ambitious climate action in cities.

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Accounting for Carbon in Copenhagen Energieffektivitet i byggeriet: xxx ICARB Conference, Edinburgh September 5 2014 Morten Hojer Climate Unit, City of Copenhagen
London School of Economics launched report on Copenhagen as a ”green economy leader” in June 2014 Is there is an economic rationale for early action on ”green” growth in cities? Source: LSE, Economics of Green Cities Programme (2011-2015). 2
The intellectual foundation of the LSE report spans across a diversity of fields (1/3) 3 1990 1995 2001 From science… … to economics 2007 2013 The Stern Review (2006) argued that the benefits of strong, early action on climate change outweigh the costs: • Without action, overall costs of climate change are equvalent to 5%-20% of world GDP each year • The impacts are irreversible and unevenly distributed; poor people in less developed countries are likely to suffer most • To avoid the worst effects of climate change about 2% of world GDP needs to be invested
The intellectual foundation of the LSE report spans across a diversity of fields (2/3) …to economics of urban agglomeration “Cities are actually the healthiest, greenest, and richest places to live. New Yorkers, for instance, live longer than other Americans; heart disease and cancer rates are lower in Gotham than in the nation as a whole. More than half of America’s income is earned in twenty-two metropolitan areas. And city dwellers use, on average, 40 percent less energy than suburbanites.” New York Times Review of Books 2011 4
The intellectual foundation of the LSE report spans across a diversity of fields (3/3) 5 … to a new ”industrial” revolution
The state of the debate Neutral Growth and climate have tradeoffs Growth and climate have co-benefits ▪ Growth model too fragile to take on climate action now ▪ High energy costs will kill growth and create competitive asymmetries ▪ Climate action puts an unfair burden on the developing world ▪ There are multiple factors which affect growth in the next 3- 5-10 years which are more important than climate action (which is frankly second-order) ▪ Higher resource efficiency can lead to better short-term growth/less volatility ▪ There are major co-benefits (air quality) ▪ Cleantech is an enormous innovation driver that will spillover positively to the whole economy Source: The Global Commission on the Economy and Climate, New Climate Economy project. 6
What is Copenhagen doing about it? Energieffektivitet i byggeriet: xxx
Over the past 20 years, Copenhagen’s economy grew by 25% while simultaneously reducing GHG emissions by 40% 8
Urban crisis and de-population followed by inner-city densification 9
Despite a low average population density, housing and employment areas have been planned with good accessibility 10
Low levels of vehicle ownership per capita 11
Low time costs of journey-to-work indicate a very effective urban transport network 12
Copenhagen carbon neutral by 2025 Energieffektivitet i byggeriet: xxx
There are big challenges… 14 • Carbon: From 20 pct to 100 pct reduction in 10 years • Population: +20 pct increase in 2025 • Housing: +25.000 new units • Office spaces: +2,8 mio. m2
… and opportunities 15
Potential emissions reductions of 1,2 mio. tons of CO2e have been identified… Energy production Energy consumption Green mobility Million tCO2e per year City administration Total Selected initiatives ▪ Biomass-based combined heat and power ▪ Land and offshore wind turbines ▪ Separation of plastics from waste ▪ Energy retrofitting of existing buildings ▪ Low-energy new build ▪ Solar PV ▪ City of Cyclists ▪ Alternative fuel vehicles (electric, hydrogen) ▪ Biogas and hybrid busses ▪ Intelligent traffic systems (ITS) ▪ Energy efficiency in own buildings ▪ New fuels in municipal vehicle fleet ▪ LED street lights New initiatives ▪ New initiatives at EU-level (energy, renewables, transport) ▪ New initiatives at national level (energy, transport) ▪ New initiatives at city-level (construction, transport) 0,9 0,1 0,1 0,1 1,2 16
… that require massive investments in Copenhagen 2013- 2025 17 Public Investments City of Copenhagen 0,4 bn€ Private Investments Direct Investments 3,25 bn€ Private Investments Energy and Climate Investments 32,8 bn€ 9 85
On the day the ”green economy” finally arrives 18
Thank you for your attention 19 MORTEN HOJER Special Advisor on Climate and Green Growth (+45) 23 39 34 43 morten.hojer@tmf.kk.dk www.kk.dk/climate and www.kk.dk/english

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Accounting for Carbon in Copenhagen | Morten Hojer

  • 1. Accounting for Carbon in Copenhagen Energieffektivitet i byggeriet: xxx ICARB Conference, Edinburgh September 5 2014 Morten Hojer Climate Unit, City of Copenhagen
  • 2. London School of Economics launched report on Copenhagen as a ”green economy leader” in June 2014 Is there is an economic rationale for early action on ”green” growth in cities? Source: LSE, Economics of Green Cities Programme (2011-2015). 2
  • 3. The intellectual foundation of the LSE report spans across a diversity of fields (1/3) 3 1990 1995 2001 From science… … to economics 2007 2013 The Stern Review (2006) argued that the benefits of strong, early action on climate change outweigh the costs: • Without action, overall costs of climate change are equvalent to 5%-20% of world GDP each year • The impacts are irreversible and unevenly distributed; poor people in less developed countries are likely to suffer most • To avoid the worst effects of climate change about 2% of world GDP needs to be invested
  • 4. The intellectual foundation of the LSE report spans across a diversity of fields (2/3) …to economics of urban agglomeration “Cities are actually the healthiest, greenest, and richest places to live. New Yorkers, for instance, live longer than other Americans; heart disease and cancer rates are lower in Gotham than in the nation as a whole. More than half of America’s income is earned in twenty-two metropolitan areas. And city dwellers use, on average, 40 percent less energy than suburbanites.” New York Times Review of Books 2011 4
  • 5. The intellectual foundation of the LSE report spans across a diversity of fields (3/3) 5 … to a new ”industrial” revolution
  • 6. The state of the debate Neutral Growth and climate have tradeoffs Growth and climate have co-benefits ▪ Growth model too fragile to take on climate action now ▪ High energy costs will kill growth and create competitive asymmetries ▪ Climate action puts an unfair burden on the developing world ▪ There are multiple factors which affect growth in the next 3- 5-10 years which are more important than climate action (which is frankly second-order) ▪ Higher resource efficiency can lead to better short-term growth/less volatility ▪ There are major co-benefits (air quality) ▪ Cleantech is an enormous innovation driver that will spillover positively to the whole economy Source: The Global Commission on the Economy and Climate, New Climate Economy project. 6
  • 7. What is Copenhagen doing about it? Energieffektivitet i byggeriet: xxx
  • 8. Over the past 20 years, Copenhagen’s economy grew by 25% while simultaneously reducing GHG emissions by 40% 8
  • 9. Urban crisis and de-population followed by inner-city densification 9
  • 10. Despite a low average population density, housing and employment areas have been planned with good accessibility 10
  • 11. Low levels of vehicle ownership per capita 11
  • 12. Low time costs of journey-to-work indicate a very effective urban transport network 12
  • 13. Copenhagen carbon neutral by 2025 Energieffektivitet i byggeriet: xxx
  • 14. There are big challenges… 14 • Carbon: From 20 pct to 100 pct reduction in 10 years • Population: +20 pct increase in 2025 • Housing: +25.000 new units • Office spaces: +2,8 mio. m2
  • 16. Potential emissions reductions of 1,2 mio. tons of CO2e have been identified… Energy production Energy consumption Green mobility Million tCO2e per year City administration Total Selected initiatives ▪ Biomass-based combined heat and power ▪ Land and offshore wind turbines ▪ Separation of plastics from waste ▪ Energy retrofitting of existing buildings ▪ Low-energy new build ▪ Solar PV ▪ City of Cyclists ▪ Alternative fuel vehicles (electric, hydrogen) ▪ Biogas and hybrid busses ▪ Intelligent traffic systems (ITS) ▪ Energy efficiency in own buildings ▪ New fuels in municipal vehicle fleet ▪ LED street lights New initiatives ▪ New initiatives at EU-level (energy, renewables, transport) ▪ New initiatives at national level (energy, transport) ▪ New initiatives at city-level (construction, transport) 0,9 0,1 0,1 0,1 1,2 16
  • 17. … that require massive investments in Copenhagen 2013- 2025 17 Public Investments City of Copenhagen 0,4 bn€ Private Investments Direct Investments 3,25 bn€ Private Investments Energy and Climate Investments 32,8 bn€ 9 85
  • 18. On the day the ”green economy” finally arrives 18
  • 19. Thank you for your attention 19 MORTEN HOJER Special Advisor on Climate and Green Growth (+45) 23 39 34 43 morten.hojer@tmf.kk.dk www.kk.dk/climate and www.kk.dk/english