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Tag Archives: European Green Deal

Europe’s Green Deal must reach beyond its borders

A European Climate and Sustainable Development Bank could become the external investment arm of the European Green DealUrsula von der Leyen has made climate change a top priority for the European Commission, proposing a European Green Deal that would make Europe climate neutral by 2050.This is good for Europe and for the world.It is good for Europe because deep decarbonisation represents a historic occasion to revitalise Europe’s economy and provide purpose and meaning to the common...

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Berlin will make or break the European Green Deal

€1 trillion isn't enough for the European Green Deal and the EU's fiscal framework is constraining public investment. "Mrs Merkel, tear down this rule".This opinion piece was originally published in Le Monde and Il Sole 24 Ore€1 trillion: this is the ‘green investment wave’ the European Commission seeks to mobilise over ten years with its newly-launched European Green Deal Investment Plan.In doing so, the EU executive arm seeks to unleash the public and private financing required to reach its...

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Paying for the European Green Deal

The European Commission has presented its Just Transition Fund to help regions still dependent on fossil fuel as they move towards green energy. But where does the money come from and is it enough to make Europe carbon neutral by 2050? Should the EU re-write its fiscal rules to encourage sustainable investment? And should environmentalists be optimistic? Nicholas Barrett asked Simone Tagliapietra and Grégory Claeys. By: The Sound of Economics Date: January 16, 2020 Topic: Energy &...

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European green finance is expanding, a discount on bank capital would discredit it

If EU banks are to mobilise a greater share of loans for sustainable projects they will need a reliable policy framework, clear internal performance targets and the relevant skills. A discount on bank capital underlying such assets is neither justified nor likely effective. A comprehensive review of how climate risks are reflected in prudential regulation is nevertheless in orderThe Commission’s ‘European Green Deal’ sets out massive investment needs in a variety of areas, amounting to...

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The Green Deal is not just one of many EU projects, it is the new defining mission

The EU has already invested so much of its political capital into the green transition that a failure to deliver would severely damage its legitimacy.Most flags are multicoloured. Together with red-flagged China, the blue-flagged European Union is one of the few monochrome entities. Not anymore, apparently: the EU’s new defining project colours it green. At a meeting in mid-December, the leaders of all EU countries except one (Poland, not the United Kingdom) officially endorsed the goal of...

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Europe’s Apollo 11 will not be about the moon

The European Green Deal has an ambitious double target to “reconcile the economy with the planet” and to become Europe’s “new growth strategy”.“This is Europe’s ‘man on the moon’ moment.” These are the bold words used by European Commission president Ursula von der Leyen 11 days into her job as she presented her plan for a ‘European Green Deal’ aimed at creating the first climate-neutral continent by 2050.The plan includes 50 ideas, spanning from carbon pricing to green investments, from just...

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The European Green Deal needs a reformed fiscal framework

The European Green Deal should include a sustainable investment strategy that will help citizens change behaviour and companies switch technologies. But to finance it, the EU will have to increase the flexibility of its fiscal rules to encourage member states to invest in the transition.The European Commission is set to present the outline of its European Green Deal plan. As discussed in our recent paper, the plan should include a sustainable investment strategy that will help companies...

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A value-added tax could reduce carbon leakage

The European Commission President-elect Ursula von der Leyen is pursuing ambitious environmental targets, notably to reach zero net emissions across the EU by 2050. This transition requires pricing emissions to incentivise producers to develop greener alternatives, while avoiding putting domestic producers at a disadvantage.Border Carbon AdjustmentBorder carbon adjustment (BCA) has been Ms. von der Leyen’s suggested remedy and deserves the attention of policymakers. Carbon leakage — the...

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How to make the European Green Deal work (Part Two)

Nicholas Barrett and Guntram Wolff discuss industrial policy and the social consequences of the green deal with Grégory Claeys and Simone Tagliapietra.Don’t worry if you missed part one because all of Bruegel’s pillars for a European Green Deal are created equal. This time, Nicholas Barrett and Guntram Wolff discuss industrial policy and the social consequences of the green deal with Grégory Claeys and Simone Tagliapietra. Read the paper in full.

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How to make the European Green Deal work (Part One)

What industrial policy for the European Green Deal?This event will be a workshop, aiming to look into the design and implementation process of the European Green Deal. Each session will be introduced by three short presentations aimed at launching the discussion among all workshop participants. Speakers: Jos Delbeke, Bertrand Déprez, Markus Hess, Laura Piovesan, Megan Richards, Simone Tagliapietra, Mary Veronica Tovšak Pleterski, Kurt Vandenberghe and Reinhilde Veugelers Topic: Energy &...

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