UCL Institute for Sustainable Resources


Macro-economic Modelling

Our research studies the inter-linkages between the economy and the environment, focussing on the use and management of scarce resources and assessing the impacts of resource and environmental policies on the economy.

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What we do

This theme’s portfolio is spread over a number of resource and environmental policy research projects. As part of consultancy work for the OECD, the potential economic and environmental benefits of circular economy policies were explored focusing on the iron and steel sector. We also have ongoing research under the COP21 Results, Implications, Pathways and Policies for Low-Emissions European Societies (RIPPLES) project and the UK Energy Research Centre. These projects focus on the energy systems transition and the macro-economic impacts of global decarbonisation pathways. Special focus is given to the economic impacts of different financial scenarios.

Our Work

ISR is developing macro-economic modelling tools to address resource interlinkages and future transformations at the global, regional and country level. Our Environmental Global Applied General Equilibrium (ENGAGE) model is based on up-to-date international trade data and has detailed modules on food, water, minerals, and energy. The model seeks to fill gaps on analysing policies and transition pathways.

The ENGAGE-materials model was updated to become the most advanced global CGE model able to assess the steel industry as an integral part of the circular economy. ENGAGE-materials include an explicit modelling of production, consumption and trade of the whole supply chain of steel. Ongoing work assesses the potential competitive advantages, economic benefits and environmental gains for China by moving to a circular economy in the steel industry.


Alvaro Calzadilla Rivera
Associate Professor
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Matthew Winning
Research Associate
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