Green public investment after COVID-19

How can the public sector meet the climate funding needs of the EU?

Time and location: 5 July 2022 15:00-16:00
Bruegel, Rue de la Charité 33, 1210 Brussels

Speakers

Elena Flores

Deputy Director-General, European Commission, DG ECFIN

Louise Skouby

Joining remotely

Head of Division for International Economics, Ministry of Finance, Denmark

Laurent Zylberberg

Joining remotely

Chairman, European Long-Term Investors Association (ELTI)

President in charge of Public, International and European Affairs, Caisse des Dépôts Group

Agenda

Check-in and lunch

12:30-13:00

Agenda

Conversation

13:00-13:45

Chair: Zsolt Darvas, Senior fellow
Elena Flores, Deputy Director-General, European Commission, DG ECFIN
Laurent Zylberberg, Chairman, European Long-Term Investors Association (ELTI); President in charge of Public, International and European Affairs, Caisse des Dépôts Group
Louise Skouby

Agenda

Q&A

13:45-14:00

The EU has set ambitious climate targets with its Green Deal and Fit for 55 package, which will require substantial additional investments and major regulatory and tax measures. The EU’s energy policy response to Russia’s invasion of Ukraine, REPowerEU, foresees either additional or frontloaded measures to foster the green transition.

These investments will have to be funded. While most investments would be funded by the private sector, a large share of the costs will have to be funded by the public sector, either as public sector investment or by incentivising private sector investment, due to network externalities, information inefficiencies, or political economy realities.

How will EU governments meet the challenge of significantly increasing climate funding when EU fiscal rules (after their re-introduction) will require fiscal consolidation? Is there a need to alter EU fiscal rules to foster green public investment? Would a new EU climate fund be a good solution?

Keyword: European Green Deal energy investment
Language: English