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NERA Contributes Economic Analysis to 'Massive Deployment' chapter of Michelin Challenge Bibendum's Green Paper
12 November 2014
New York—NERA Economic Consulting, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, was commissioned by Michelin to study the macroeconomic impacts of moving the global transportation sector towards a low-carbon pathway. The study was carried out in collaboration with the International Transport Forum, the International Energy Agency, the Climate Economics Chair of University Paris Dauphine and Oliver Wyman.
The analysis focused on the tradeoffs faced by policy-makers in the United States, the European Union, and China over the period 2015 to 2030 and how the transportation sector could play a role to meet the goals set out in the Cancun Agreements. The conclusions of the study are featured in the "Massive Deployment" chapter of the Michelin Challenge Bibendum’s Green Paper.
NERA used its proprietary general equilibrium model of the world economy, NewERA model, to compare the economic impacts of a significant reduction in the tank-to-wheel CO2 emissions of the transportation sector under different scenarios and policy levers. The NERA team, led by Vice President Jean-Sébastien Lénik, found:
- Economic and employment impacts from greenhouse gas reductions differ qualitatively across regions.
- Uncertainty in policy choices, technological paths, and market responses lead to large variations in impacts in the long run, 2030.
- The most cost-effective policies are those enabling the development of ultra-low carbon transport technologies and recycling carbon pricing revenues to lower existing taxes on individuals and corporations.
"For more than 50 years, NERA's experts have been at the forefront of applying economics to help clients assess and solve their business and legal issues. Our participation in the MCB reflects NERA's commitment to and expertise in helping organizations with their high-stakes policy decisions and projects," said NERA’s President Lawrence Wu.
NERA Vice President Jean-Sébastien Lénik, Senior Consultant Mei Yuan, and Consultant Gonçalo Vilaça will attend the MCB event in Chengdu to discuss their findings in the Massive Deployment Backbone session.
The Michelin Challenge Bibendum’s Green Paper can be downloaded from: http://www.challengebibendum.com/eng/Chengdu-2014-Global-Summit/Backbone-Sessions/Green-Paper
About NERA
NERA Economic Consulting (www.nera.com) is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, we have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation.
NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing our legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.