Baseline GECO 2024

The economic Multi-Regional Input-Output (I-O) tables used in the Global Energy and Climate Outlook (GECO) 2024 for the Reference scenario are presented. The Reference scenario (Baseline GECO 2024) represents a projection of the world economy with corresponding energy demand and greenhouse gas (GHG) emissions. The I-O tables are supplemented by energy balances (in physical units) and GHG emissions projections. The I-O tables and the data on bilateral trade flows are derived from the Global Trade Analysis Project (GTAP) 11 database (Aguiar et al., 2022). The I-O tables are reconciled and projected for future years using a multi-regional balancing procedure (Temursho et al., 2021; Wojtowicz et al., 2019; Rey Los Santos et al., 2018), which ensures consistency across the various data sources used in the Reference scenario of the GECO 2024 (Keramidas et al., 2024).