Climate change scenarios: narratives and business implications

The lecture discussed what climate neutrality means and how we can achieve it effectively.

Starting from the international climate policy context, the talk debated the evolving technological and policy landscape in the major economies which is paving the way towards decarbonization and climate resilience.

We discussed scenarios depicting future low carbon pathways, how those are formulated and how they translate into mitigation and adaptation strategies. We also played an interactive game of reaching net-zero emissions, and discussed lessons learned and implications for policy and business.

About the speaker

Massimo Tavoni is full professor of climate change economics at the School of Management of the Politecnico di Milano and director of the European Institute on Economic and the Environment (EIEE).

He received a starting grant from the European Research Council (ERC) in 2014 and has subsequently participated in more than 20 EU-funded research projects, 2 of them as scientific coordinator.

His research concerns climate change mitigation policies. He has been IPCC lead author (Fifth and Sixth Assessment reports) and serves as an advisor on mitigation issues for major international institutions, such as OECD and World Bank.

Interview with Massimo Tavoni

C-TAKEAWAYS: Fast facts for the C-level

• Scenarios are not to be thought as predictions, but representations of future possibilities.
• Refer to as many scenarios as possible. The purposes of analysis are many, just like the uncertainties about the future: scenarios should be as many.
• Models work with a set of inputs that are scenario specific. They then elaborate the variables and generate different outcomes. They serve the purpose of understanding the possible consequences of policy and technological choices; it’s up to you to decide what to do, given your business strategy.
• Make sure that you have at least one board member that understands the climate problem and is aware of the latest scientific developments.
• Incorporate climate education, transparency and accountability in your business strategy.