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Tag Archives: European Green Deal

Regulatory power in times of crisis and beyond: Assessing the European Green Deal

The European Commission announced a new ‘Green Deal’ at the end of 2019, just months before the start of the Covid-19 pandemic. Sandra Eckert argues that while the pandemic might have been expected to derail the EU’s agenda, the Green Deal has benefited from successful attempts to frame Europe’s green transition as a necessary precondition for economic recovery. She takes a more cautious approach, however, with respect to challenges ahead for the EU’s regulatory power in the global...

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Exploding energy prices

Wholesale gas prices have reached record highs in the past months, leaving EU governments scrambling for emergency aid to help households cope with their rising bills. However, this is not only about energy: though its origins might be environmental, there are diplomatic, social and economic consequences for governments and citizens. And less than two months after the EU’s bold ‘Fit-for-55’ climate initiative, a gas crisis is threatening the EU’s green agenda. In this episode of The Sound...

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A Safety Net for the Green Economy

Fit for 55 marks Europe’s climate moment of truth With Fit for 55, Europe is the global first mover in turning a long-term net-zero goal into real-world policies, marking the entry of climate policy into the daily life of all citizens and businesses. By: Simone Tagliapietra Topic: Energy & Climate, European Macroeconomics & Governance Date: July 14, 2021

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A fitting plan for the European Green Deal?

Ensuring competitiveness of low-carbon investments At this event, speakers will introduce the core idea of commercialisation contracts, and then discuss key design elements. This includes whether contracts should be issued at the EU or national level, how competition for contracts should be organised, and which industries should be eligible for support. Speakers: Natalia Fabra, Peter Handley, Ben McWilliams and Georg Zachmann Topic: Energy & Climate, European Macroeconomics &...

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‘Fit-for-55’ package: Squaring the circle

The European Union finds itself at the centre of a three-dimensional puzzle. Burdens need to be shared between 450 million citizens, 25 million businesses and EU countries in a way that is acceptable to enough of them. Read the piece published by Euractiv. Republishing and referencing Bruegel considers itself a public good and takes no institutional standpoint. Due to copyright agreements we ask that you kindly email request to republish opinions that have appeared in print to...

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Fit for 55 marks Europe’s climate moment of truth

With Fit for 55, Europe is the global first mover in turning a long-term net-zero goal into real-world policies, marking the entry of climate policy into the daily life of all citizens and businesses. The author is grateful to Maria Demertzis, Guntram B. Wolff and Georg Zachmann for their comments on previous drafts. The European Commission’s long-awaited ‘Fit for 55’ package, intended to facilitate a European Union greenhouse gas emissions cut of 55% by 2030 compared to 1990, has as its...

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Banks in a net-zero Europe

A net-zero emissions target is a powerful incentive for the low-carbon transition, but for bank supervisors, climate-related risks, not climate outcomes, should remain the focus. Europe’s climate law, agreed in April, will have knock-on effects through a wide range of sector-specific legislation, with the intention of delivering on European Union states’ collective commitment to emission reduction targets and a net-zero economy in 2050. Globally, 32 countries have such targets in law or...

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Accounting for climate policies in Europe’s sovereign debt market

Sovereign debt will be vital in stimulating sustainable investment, but information is lacking on how green public spending actually is. The authors are grateful for very helpful comments from Moritz Krämer, Patrice Cochelin and Paul Munday in the context of a related project, undertaken with Stavros Zenios. International debt investors increasingly demand assets that are aligned with environmental, social and governance objectives. Sovereign debt is being belatedly swept up in this...

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Form a climate club: United States, European Union and China

If the three biggest economies agree a carbon tax on imports, it will catalyse climate action globally. This article was originally published on Nature. Copyright remains with Nature at all times. The United States, the European Union and China together emit half of the world’s greenhouse gases. They must come together to cut domestic emissions and levy a carbon tax on imports. That would incentivize all nations to cut their emissions.

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Carbon price floors: an addition to the European Green Deal arsenal

As the European Union sets out a more ambitious climate policy, carbon price floors provide an opportunity to place greater emphasis on altering expectations, so that market agents anticipate today higher future pay-offs from low-carbon investment. This year will be decisive for Europe’s climate policy, with a wide range of new legislation promised to align current EU climate and energy policies with a new emissions reduction target of 55% by 2030. The reform of the backbone of the EU climate...

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