How to make the European Green Deal succeed.
As the European Union sets out a more ambitious climate policy, carbon price floors provide an opportunity to place greater emphasis on altering expectations, so that market agents anticipate today higher future pay-offs from low-carbon investment.
President Biden has promised to implement a levy on carbon-intensive imports, albeit without a federal domestic carbon price. The measure faces a number of difficulties, but could feasibly be implemented. The route chosen by the US will have important implications for the EU's own plans.
The Green Deal will redefine Europe’s global policy priorities; as such, it is a foreign policy development with profound geopolitical consequences
A ‘green industrial policy’ able to promote economic growth, job creation and environmental goals altogether will be fundamental to Europe’s climate change ambitions.
This Blueprint examines how the European Union can develop a coherent green industrial policy that will serve the goals of the European Green Deal.
"2021 can be a breakthrough year for climate: the new US administration and the EU have a real opportunity, through a ‘global net zero coalition’, to remove some of the key bottlenecks in the global path to climate neutrality."
“Only a broad policy framework – taking into account economic, fiscal, industrial, labour, innovation and social policy issues – can address the challenges of the climate crisis in a balanced way.”