Work Package 5: Analysis of feasible economic transformations

Drawing on the results of WP1 (well-being and functionalities), regional emissions constraints (WP2), the specific linkage of functionalities and resources (WP3) and the economic evaluation tool thereof (WP4), we use this evaluation tool for the simulation of (i) emerging autonomous transformations in the Austrian economy embodied in the European and global context triggered by breakthrough technologies and new behaviours and (ii) targeted (climate policy) transformations enacted in such a world of transformation in order to highlight new structures, distributional implications, and labour skill demands for identifying areas of complementary policies.

Task 5.1

Specification of emerging transformations

Based on European research (including the H2020 project TRANSrisk) and defined resource vectors in WP3 we identify emerging (autonomous as well as targeted) transformation options. The identified transformation options follow the functionalities concept as developed in the previous work packages (WP1 and WP3) and implemented in the modelling tool.

Task 5.2

Impact of transformation options

Applying the tool developed in WP4 allows comparing current functionality fulfilment (and respective resource demand shares for these functionalities) with respective shares in (i) an autonomously transformed economy as well as (ii) a transformed economy under the particular low-carbon objective followed (i.e. targeted transformation). Identification of whether these demands are within the emission boundaries as identified in WP2.

Task 5.3

Expected impacts on skill demand and distribution

Simulation results illustrate how the implementation of transformation options change economic structures, labour skill demand and distributional implications. These results are of high policy relevance as they indicate where additional complementary policy is required.

Task 5.4

Recommendations

Derivation of (policy) recommendations for low-carbon transition.