A successful transition to a low carbon economy will depend on a number of technological, economic, environmental and social factors. However, before we start this process, it is important to understand the full environmental and economic implications of any step changes that this transition may require. In this project we propose to concentrate on developing a methodology and decision-support tools that would help us understand and evaluate environmental and economic consequences of the changes required for the "decarbonisation" of the economy. In particular, we propose to develop a methodology for a life-cycle estimation of carbon inventories in different supply chains. The project will also investigate the options for, and the associated costs of, carbon mitigation measures by considering standard economic parameters such as investment and operating costs and value added, together with uncertainty and risk where appropriate. The intention is that the methodology and thetools will be usable for investigation of future scenarios, involving completely new technologies and products. The tools will also help companies to respond to the activities such as carbon management and emissions trading. The industrial sectors to be considered in the project include Chemicals and related products, Food and Drink, Bio-feedstocks and Biofuels
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09/07/07
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