To limit global warming to 1.5°C, postgraduate students from English Master of Science in Managerial Economics (MME-E) participated in "Climate Action Summit" simulation on 8 November 2021 organized by the United Nations Secretary-General to urgently address climate change. The students came up with a range of proposals from imposing a higher price on carbon emissions, to investing in energy-efficiency and carbon capture and storage technology, and a higher adoption rate for electric transportation, among other solutions.
The students developed their proposed solutions during a mock COP26 climate summit held in their Efficiency in Energy Market class. Taught by lecturer Dr Hang-Wei Hao, Ph.D., CFA, the students role-played as leaders and representatives from various sectors and organisations. Our students also engaged with a powerful and dynamic simulator called En-ROADS (abbreviated for “Energy Rapid Overview and Decision Support”) to examine the impacts of their proposed policies (e.g. electrification of transport, carbon price, and carbon capture and storage technologies) on climate change and other economic dimensions such as energy price and consumption.
This simulation experience is aimed at equipping future business leaders and policymakers with the skills and knowledge to develop sustainable initiatives and solutions for a greener future.