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Tag Archives: climate policies

Deep Focus: Energy transition in the next EU institutional cycle

Bruegel fellow Simone Tagliapietra speaks to Sean Gibson in this instalment of 'The Sound of Economics', on the matter of the European energy transition and how the EU should proceed in the new institutional cycle. When the dust settles after the recent European elections, and as the new Commission takes office, the problem of climate change – and its accompanying policy challenges – will remain one of the EU’s chief agenda items. One significant facet is the transition of Europe’s...

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Backstage: Making the most of climate modelling

Bruegel senior fellow Georg Zachmann interviews Massimo Tavoni, professor at the Politecnico di Milano and director of EIEE, on the purpose of climate and energy models, what they can deliver and what are the most recent developments in their formulation. In this episode of ‘The Sound of Economics’, Bruegel senior fellow Georg Zachmann continues the Backstage series with an interview with Massimo Tavoni, professor at the Politecnico di Milano and director of EIEE. The discussion point...

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Does attaching environmental issues to trade agreements boost support for trade liberalisation?

This blog post shows that the omission of environmental issues in the new EU-US trade negotiations may make it challenging to pass the trade agreement in the European Parliament. In particular, the inclusion of environmental issues is pivotal to keep the second largest, centre-left S&D group in the pro-trade coalition. On April 15th, the European Council authorised mandates for the Commission to open trade negotiations with the United States. Compared to the now-defunct Transatlantic...

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The geopolitical implications of the global energy transition

Energy has traditionally played an important role in global geopolitics, contributing to the rise of great powers, the formation of alliances and, in many cases, also to the emergence of wars and conflicts. Every international order in modern history has been based on an energy resource. This piece discusses how the ongoing low-carbon energy transformation could reshape global geopolitics in the future. Since the First World War, oil has undoubtedly been the cornerstone of global energy...

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The Economists’ Statement on Carbon Dividends and the Green New Deal

In the last month two prominent policy proposals that aim to combat climate change have been presented in the United States. The Green New Deal calls for the deployment of substantial government resources to combat climate change. The Economists’ Statement on Carbon Dividends, suggests a market-based and budget-neutral approach through a carbon tax. Michael Baltensperger reviews reactions to both. On 6 February, Democratic members of the US Congress put forward a House Resolution that...

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Greening monetary policy: An alternative to the ECB’s market-neutral approach

The ECB’s market-neutral approach to monetary policy undermines the general aim of the EU to achieve a low-carbon economy. An alternative tilting approach would foster low-carbon production, accelerating the transition of the EU to a low-carbon economy, and could be implemented without undue interference with the chief aim of price stability. By: Dirk Schoenmaker Date: February 21, 2019 Topic: European Macroeconomics & Governance...

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Deep Focus: A greener monetary policy approach for the ECB

Bruegel fellow Dirk Schoenmaker walks Sean Gibson and 'The Sound of Economics' listeners through his latest working paper, focusing on how to make monetary policy in Europe more climate-friendly By: The Sound of Economics Date: February 21, 2019 Topic: European Macroeconomics & Governance In this episode of the Deep Focus podcast series, Bruegel’s Dirk Schoenmaker explains his proposed greener alternative to the ECB’s...

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Greening monetary policy

The author proposes a tilting approach to steer the allocation of the Eurosystem’s assets and collateral towards low-carbon sectors, which would reduce the cost of capital for these sectors relative to high-carbon sectors. Central banks have already started to look at climate-related risks in the context of financial stability. Should they also take the carbon intensity of assets into account in the context of monetary policy? Central banks have already started to look at...

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The UN climate conference in Katowice: A message from the European capital of coal

Following the COP24 climate talks in Poland, Simone Tagliapietra reviews the arguments for and challenges to decarbonisation. This opinion piece was originally published in Die Zeit. This year’s United Nations climate-change conference (COP24) opened this week in Katowice, the European capital of coal. Over the next days, the international delegates who have converged on the Polish city to negotiate a rule-book to make the Paris Agreement work will frequently experience the thick...

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Les gilets jaunes

For weeks, protesters wearing yellow motorist vests have taken to the streets of Paris to protest against the rising price of fuel. They have since taken on a wider role, and are seen as symbols of the growing popular discontent with President Macron. Silvia Merler reviews scholars’ opinions about this movement. Branko Milanovic thinks that the recent French event raises two important issues. The first issue is “new”. Proponents of degrowth and those arguing in favour of doing something...

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