IDEAS home Printed from https://ideas.repec.org/p/zbw/ifsoex/8.html
   My bibliography  Save this paper

How to boost the European Green Deal's scale and ambition

Author

Listed:
  • Wildauer, Rafael
  • Leitch, Stuart
  • Kapeller, Jakob

Abstract

The European Green Deal (EGD) is the European Union's flagship strategy to tackle climate change. This policy study compares the ambition and scale of the EGD with the current relevant scientific literature. The goal is to assess whether the current proposals are capable of fulfilling the EU's commitment to limit global warming to 1.5°C in line with the Paris Agreement. (...) Taken together, this suggests that annual investment requirements of up to € 855 billion (excluding transport) in the EU27 would be required for a successful transition. Setting and delivering on more ambitious GHG emission reduction targets requires the use of all possible policy tools. The EGD is a promising start in this context as it relies on a broad set of instruments from regulations, carbon markets, taxes and public investment. Given the limited time available however the EGD should go a step further and upgrade the Sustainable Europe Investment Plan into a comprehensive climate master plan which determines clear targets and timelines for renewable energy capacity, building renovations, transport infrastructure, R&D targets etc. This would not only provide the private sector with clear long-term signals but also allow for timely monitoring of the EU's progress.

Suggested Citation

  • Wildauer, Rafael & Leitch, Stuart & Kapeller, Jakob, 2020. "How to boost the European Green Deal's scale and ambition," ifso expertise 8, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    • Handle: RePEc:zbw:ifsoex:8
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/271590/1/ifso-expertise08.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jakob Kapeller & Bernhard Schütz & Dennis Tamesberger, 2016. "From free to civilized trade: a European perspective," Review of Social Economy, Taylor & Francis Journals, vol. 74(3), pages 320-328, September.
    2. Fabra, Natalia, 2018. "A primer on capacity mechanisms," Energy Economics, Elsevier, vol. 75(C), pages 323-335.
    3. Kevin Anderson, 2012. "The inconvenient truth of carbon offsets," Nature, Nature, vol. 484(7392), pages 7-7, April.
    4. Alice Larkin & Jaise Kuriakose & Maria Sharmina & Kevin Anderson, 2018. "What if negative emission technologies fail at scale? Implications of the Paris Agreement for big emitting nations," Climate Policy, Taylor & Francis Journals, vol. 18(6), pages 690-714, July.
    5. Kelly, J. Andrew & Fu, Miao & Clinch, J. Peter, 2016. "Residential home heating: The potential for air source heat pump technologies as an alternative to solid and liquid fuels," Energy Policy, Elsevier, vol. 98(C), pages 431-442.
    6. Bublitz, Andreas & Keles, Dogan & Zimmermann, Florian & Fraunholz, Christoph & Fichtner, Wolf, 2019. "A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms," Energy Economics, Elsevier, vol. 80(C), pages 1059-1078.
    7. Capros, Pantelis & Zazias, Georgios & Evangelopoulou, Stavroula & Kannavou, Maria & Fotiou, Theofano & Siskos, Pelopidas & De Vita, Alessia & Sakellaris, Konstantinos, 2019. "Energy-system modelling of the EU strategy towards climate-neutrality," Energy Policy, Elsevier, vol. 134(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Claudius Gräbner & Philipp Heimberger & Jakob Kapeller, 2020. "Pandemic pushes polarisation: the Corona crisis and macroeconomic divergence in the Eurozone," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 47(3), pages 425-438, September.
    2. Jamie Morgan, 2021. "Learning to Treat Our Natural World Realistically Through Unlearning Mainstream Economics? A Commentary on the Recent Work of Peter Söderbaum," Economic Thought, World Economics Association, vol. 10(1), pages 14-31, July.
    3. Stephan Schulmeister, 2020. "Fixing long-term price paths for fossil energy: the optimal incentive for limiting global warming," ICAE Working Papers 112, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    4. Yurchenko, Yuliya, 2020. "The energy sector and socio-ecological transformation: Europe in the global context," Greenwich Papers in Political Economy 30519, University of Greenwich, Greenwich Political Economy Research Centre.
    5. Philipp Heimberger & Andreas Lichtenberger, 2022. "RRF 2.0: Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln," wiiw Research Reports in German language 23, The Vienna Institute for International Economic Studies, wiiw.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Keppler, Jan Horst & Quemin, Simon & Saguan, Marcelo, 2022. "Why the sustainable provision of low-carbon electricity needs hybrid markets," Energy Policy, Elsevier, vol. 171(C).
    2. Mier, Mathias, 2021. "Efficient pricing of electricity revisited," Energy Economics, Elsevier, vol. 104(C).
    3. Cl'emence Alasseur & Heythem Farhat & Marcelo Saguan, 2019. "A Principal-Agent approach to Capacity Remuneration Mechanisms," Papers 1911.12623, arXiv.org, revised Sep 2020.
    4. Thomaßen, Georg & Redl, Christian & Bruckner, Thomas, 2022. "Will the energy-only market collapse? On market dynamics in low-carbon electricity systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 164(C).
    5. Holmberg, Pär & Tangerås, Thomas, 2021. "Strategic Reserves versus Market-wide Capacity Mechanisms," Working Paper Series 1387, Research Institute of Industrial Economics.
    6. S. Oliveira, Fernando & William-Rioux, Bertrand & Pierru, Axel, 2023. "Capacity expansion in liberalized electricity markets with locational pricing and renewable energy investments," Energy Economics, Elsevier, vol. 127(PB).
    7. Fleten, Stein-Erik & Fram, Benjamin P. & Ullrich, Carl J., 2024. "The reliability pricing model and coal-fired generators in PJM," Energy Economics, Elsevier, vol. 134(C).
    8. Sirin, Selahattin Murat & Camadan, Ercument & Erten, Ibrahim Etem & Zhang, Alex Hongliang, 2023. "Market failure or politics? Understanding the motives behind regulatory actions to address surging electricity prices," Energy Policy, Elsevier, vol. 180(C).
    9. Lukas Block & Bastian Westbrock, 2022. "Capacity investments in a competitive energy market," Working Papers Dissertations 95, Paderborn University, Faculty of Business Administration and Economics.
    10. Piotr Gradziuk & Aleksandra Siudek & Anna M. Klepacka & Wojciech J. Florkowski & Anna Trocewicz & Iryna Skorokhod, 2022. "Heat Pump Installation in Public Buildings: Savings and Environmental Benefits in Underserved Rural Areas," Energies, MDPI, vol. 15(21), pages 1-16, October.
    11. Luo, Zhenyu & Zhu, Na & Yu, Zhongyi & Zhang, Qin & Yan, Lei & Hu, Pingfang, 2024. "Performance study of dual-source heat pump integrated with radiation capillary terminal system," Energy, Elsevier, vol. 304(C).
    12. David P. Brown & Andrew Eckert & Douglas Silveira, 2023. "Strategic interaction between wholesale and ancillary service markets," Competition and Regulation in Network Industries, , vol. 24(4), pages 174-198, December.
    13. Stergios Statharas & Yannis Moysoglou & Pelopidas Siskos & Pantelis Capros, 2021. "Simulating the Evolution of Business Models for Electricity Recharging Infrastructure Development by 2030: A Case Study for Greece," Energies, MDPI, vol. 14(9), pages 1-24, April.
    14. Meles, Tensay Hadush & Ryan, Lisa & Mukherjee, Sanghamitra C., 2022. "Heterogeneity in preferences for renewable home heating systems among Irish households," Applied Energy, Elsevier, vol. 307(C).
    15. Will, Christian & Zimmermann, Florian & Ensslen, Axel & Fraunholz, Christoph & Jochem, Patrick & Keles, Dogan, 2024. "Can electric vehicle charging be carbon neutral? Uniting smart charging and renewables," Applied Energy, Elsevier, vol. 371(C).
    16. Xu, Guangyue & Dong, Haoyun & Xu, Zhenci & Bhattarai, Nishan, 2022. "China can reach carbon neutrality before 2050 by improving economic development quality," Energy, Elsevier, vol. 243(C).
    17. Simshauser, P., 2020. "Merchant utilities and boundaries of the firm: vertical integration in energy-only markets," Cambridge Working Papers in Economics 2039, Faculty of Economics, University of Cambridge.
    18. Simshauser, P. & Gilmore, J., 2020. "Is the NEM broken? Policy discontinuity and the 2017-2020 investment megacycle," Cambridge Working Papers in Economics 2048, Faculty of Economics, University of Cambridge.
    19. Natalia Fabra & Massimo Motta & Martin Peitz, 2021. "Versorgungsengpässe während einer Pandemie und was dagegen getan werden kann," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(8), pages 600-603, August.
    20. Mastropietro, Paolo & Rodilla, Pablo & Rivier, Michel & Batlle, Carlos, 2024. "Reliability options: Regulatory recommendations for the next generation of capacity remuneration mechanisms," Energy Policy, Elsevier, vol. 185(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:ifsoex:8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/isduede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.