Arup associate director Dr Simon Roberts introduced the 4see model, a combined economic and physical approach that looks at systematic interactions of an entire economy. The 4see e-model has been applied to the UK economy and is currently being used to analyse the economies of Taiwan and Australia.
The data-driven model brings together various factors of including economic activity, capital stocks, employment, energy and balance of payments to project future scenarios and explore the impact of different investment choices.
The high-level meeting was joined by government officials and experts from various departments and research institutions, including Council for Economic Planning Development, Environment Protection Administration, Bureau of Energy, Industrial Development Bureau, Taiwan Institute of Economic Research and New Taipei City Government.
To illustrate how the model works in the policy-making process, Roberts took the UK economy as an example, and presented his latest research findings as well as what possible actions the model suggests for the UK government to reduce carbon emissions. He also shared the initial results from a 4see model for Taiwan - a joint work with the Advanced Research Institute at Institute for Information Industry.
"Many governments around the world are setting out low carbon transition policies and plans with different departments working on their own measures to meet the targets, said Arup Group deputy chairman Andrew Chan. “However, the consequences of one policy may ripple through to others and affect the whole economy. Sometimes the policies overlap or even contradict with each other, resulting in little effect. 4see is a unique, innovative model that brings all the components of an entire economy together to provide evidence-based projection and point out the way forward."