Climate change is the defining challenge of our time. Adequately responding to it requires a profound transformation in the way we produce and consume energy, as well as a wider reorganization of our economic model. Bruegel scholars contribute to this difficult but fascinating task by providing timely analysis on the European climate policy developments, as well as on the evolution of global climate governance. All of this with a special attention to the macroeconomic and geopolitical implications of the European and global decarbonisation process.
Energy is at the core of the climate challenge, and at the same time it represents a fundamental driver of global geopolitical and geoeconomic dynamics. Bruegel scholars work on all the three elements of the energy policy triangle (sustainability, security, and competitiveness), with a view that keeping it in balance alongside the decarbonisation journey represents a key challenge for policymakers in Europe and beyond. This task got even more difficult in 2022, as the Russian invasion of Ukraine ignited a major energy crisis that has pushed Europe to rapidly re-design its energy map. Bruegel contributes to this difficult endeavour by providing policy insights, as well as reliable data on energy flows and policies to better inform policy choices.
An EU gas price cap would be counterproductive, but the reasons why it is supported widely must be acknowledged and addressed.
The European Union faces recession, but the way in which policymakers manage the energy crisis will determine its depth and duration.
An EU energy fund is justified, but for different reasons than commonly assumed, with implications for the fund’s design.
The €200 billion “defence shield” risks undermining European solidarity. This could be avoided by designing it well.
How should EU policymakers tackle the growing problem of climate migration?
At this event, panellists will discuss the policies that EU policymakers should implement to alleviate world hunger.
Europe’s Quest for Energy Security and the Renewed Case for a Strong Mediterranean Green Energy Partnership
IEMed Mediterranean Yearbook 2022
Geneva Reports on the World Economy
Action to intervene in the gas and electricity wholesale markets is also being taken at European Union level, which is what we analyse in this paper.
Europe must increasingly deal with the harmful impacts of climate change, regardless of its success in reducing emissions.
This paper compares debt-for-climate swaps to alternative fiscal support instruments.
COP27 should create the basis of a global loss-and-damage fund to help vulnerable countries already suffering from climate disasters.
Despite high prices, China’s substantial spare oil refining capacity remains restricted.
A price cap on Russian oil might improve the current western sanctions regime, but effectiveness will depend on the west’s willingness
Without Russian gas, the European Union would have to reduce demand by approximately 15%, with big differences between different parts of Europe
The EU needs to address through public and private funds the lack of private climate finance to low- and middle-income countries.
The ban on most Russian oil significantly scales up the EU response to aggression against Ukraine, but the bloc should stand ready for retaliation.
By acting together, the European Union can optimise its response to the energy crisis in all scenarios but each country will have to make concessions.
The EU lacks the coordination structure and transparent data necessary to most effectively navigate an embargo on Russian oil.