Transcribed
Impact on consumption of goods and services in households in the 4-for-2 °C Scenario relative to the New Policies Scenario, 2020
Figure 2.15 Impact on consumption of goods and services in households in the 4-for-2 °C relative to the New Policies Scenario, 2020 Electricity -4.2% Oil products -2.3% Natural gas -3.8% Services Transport* Manufactured goods Other Net effect +0.1% Electricity -8.1% Oil products -3.9% Natural gas -3.2% Services Transport* Manufactured goods Other Net Effect +0.4% -80 -60 -40 -20 20 40 60 80 Billion dollars (2011) Includes transport equipment and transport services. Non-OECD OECD
Impact on consumption of goods and services in households in the 4-for-2 °C Scenario relative to the New Policies Scenario, 2020
shared by W.E.R.I on Jul 10
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The manufacturing sector also sees reduced production costs and a 4% increase in
cumulative activity. In relative terms, the policy impact for the services sector is limited.
Given the sheer size of...
services in the global economy _ currently around 60% of total
value-added _ the amount of capital invested in energy efficiency relative to capital in
place is only a few percentage points. In addition, energy use is in the services sector is too
limited to benefit significantly from reduced energy prices in the 4-for-2 °C Scenario.
The overall objective of reducing CO2 and methane emissions entails sectoral and regional
reallocations of supply and demand across all commodities, goods and services. Energy
efficiency investments by households and firms reduce their energy bills, freeing up finance
for the purchase of other goods. Prices of non-energy goods and services are moderated,
as energy costs are lower. This simulates an increase in activity in non-energy sectors that
more than compensates for the reductions in the energy sector. The global trade impacts
of the policies remain very limited _ a mere 0.1% increase in 2020.
The reshuffling of sectoral activity is chiefly triggered by the altered consumption
behaviour of households, a distinct driver of economic growth, particularly in OECD
countries (Figure 2.15). Goods and services with relatively low energy content or whose
adoption may bring about significant energy savings, such as in transport through the
deployment of energy-efficient vehicles, are specifically targeted by the policy package
implemented in OECD countries. In 2020, the four policies in OECD countries lead to an
increase in household expenses of above 1% for transport services and equipment, and
also for manufactured products relative to the New Policies Scenario.24 Both categories of
additional expense are of similar magnitude, around $35 billion.
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