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  "documentTitle": "ey e book the green transition",
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      "text": "In this instance, the data set for this model covered: the EU27+UK, the US, Asia, the Middle East and Australia, which together represent 75% of global GDP and 80% of global CO2 emissions.",
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      "text": "The first scenario is called LCE. This scenario models GDP based on NDC policy announcements, including the COP27 pledges.\nThe second scenario is LCE+, which provides a feasible pathway to minimize carbon emissions beyond political pledges. It is based on reducing emissions by adopting the optimum, least-emissions pathway within key industry sectors and available technologies.\nThe third — baseline scenario — depicts no policy implementation or technological changes, with energy demand driven only by economic growth until 2050.",
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      "text": "We collaborated with Politecnico di Milano to model the potential value and impacts of the green transition process. Specifically, we focused on what governments' NDCs to meet the target of 1.5 degrees Celsius set by the UN 2015 Paris Agreement will mean for gross domestic product (GDP) and jobs growth over the next three decades. To do this, we modeled two scenarios plus a baseline scenario:",
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      "text": "In business parlance, IOSFC modeling techniques generate an economy-wide integrated set of financial, economic and physical energy accounts, describing changes to both the balance sheet (e.g., stocks of assets) and the income statement (e.g., flows of energy, goods and services) in a consistent fashion. The technique produces realistic projections of major macroeconomic, financial and real energy variables, enabling a detailed understanding of the feasibility of different transition pathways subject to social, political and economic constraints such as government debt ratios and the unemployment rate.",
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      "text": "The analysis is based on an input-output stock-flow consistent model (IOSFC), a technique that fully accounts for how energy is produced in (with financial and human capital), and how it flows through (as an input into production and consumption), the economy.",
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      "text": "About the model",
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