The EU’s Green Deal aims at achieving net zero emissions by 2050, requiring a tripling of the rate of emission reductions compared with the period from 1990 to 2020. More action is needed across all sectors, but particularly in those currently not covered by emission trading schemes, notably agriculture, housing and transport. This will entail significant economic and social costs. However, climate policy design can contribute to making the transition cost-effective and safeguard competitiveness and social cohesion.
In our webinar on 30 November 2023, the expert panel discussed effective policy tools, implementation challenges and conditions for success, based on a presentation of two simulation studies conducted for the Economic Surveys of Germany and the EU, which explore the economic and distributional effects of more ambitious emission reduction on the EU and major member countries,
Robert Grundke and Martin Borowiecki (OECD) presented insights on economic and social effects of reaching „Fit for 55“ targets. Then followed a discussion with Claudia Kemfert (DIW, Germany), Kristína Mojzesová (Ministry of the Environment of the Slovak Republic), Vicky Pollard (European Commission) and Jürgen Schneider (Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology, Austria). The event was moderated by Nicola Brandt (OECD).
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Presentation:
Further readings:
Economic Outlook Note: Euro Area. OECD-Report (November 2023).
Pricing Greenhouse Gas Emissions. Turning Climate Targets into Climate Action. OECD Paper (3 November 2022).
Economic Outlook Note: Germany. OECD-Report (November 2023).
Moving towards effective climate policies in Europe. Webinar des OECD Berlin Centre (17 October 2023).
Fit for 55 – Tracking Commission Proposals. Überblicksseite der Europäischen Kommission