Introduction – What is EEIST?

The problem

The world needs to transition to a clean economy five times faster to meet global climate targets and avoid dangerous levels of warming.

The solution

The Economics of Energy Innovation and System Transition is a three-year project from a consortium of institutions which is funded by the UK Government and CIFF, the Children’s Investment Fund Foundation. By developing new economic models, the project intends to support a step-change in thinking on the economics of the energy transition, which will in turn support more ambitious and effective policy.

Aims of the EEIST Project

The project develops analysis in the shape of tailored models which answer specific policy questions that support government decision making around low-carbon innovation and technological change. By engaging with policymakers and stakeholders in Brazil, China, India, the UK and the EU, the project aims to contribute to the economic development of emerging nations and support sustainable development globally.

The consortium

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 creation of Communities of Practice

Led by the University of Exeter, EEIST brings together an international team of world-leading research institutions across Brazil, China, India, the UK and the EU.

The consortium of institutions are: 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.

UK: University of Exeter, University of Oxford, University of Cambridge, University College London, Anglia Ruskin University, Cambridge Econometrics, Climate Strategies.

The EEIST project has worked hard with national, regional and local societies including stakeholders and governments in emerging economies in Brazil, China and India to create ‘Communities of Practice’ which act as knowledge transfer hubs. These hubs have helped offer bespoke answers to specific policy questions, which vary from country to country.

India: The Energy and Resources Institute, World Resources Institute.

China: Beijing Normal University, Tsinghua University, Energy Research Institute.

Brazil: Federal University of Rio de Janeiro, University of Brasilia, Universidade Estadual de Campinas (UNICAMP).

The models challenge much of the economic status quo. They suggest the transition will save us money and can be good for growth and jobs. EEIST has developed a wealth of case studies in different sectors in emerging economies that show how new models of the transition can inform key decisions.

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.

EU: Scuola Superiore di Studi Universitari e di Perfezionamento Sant’Anna.

Please read on for an overview of the EEIST project’s major reports over the last three years.

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.

For full institutional affiliations see the back cover or visit eeist.co.uk

Nick Bridge Foreign Secretary's Special Representative for Climate

Foreign, Commonwealth & Development Office