Global S&T Development Trend Analysis Platform of Resources and Environment
Greening the recovery by greening the fiscal consolidation | |
Ben McWilliams; Simone Tagliapietra and Georg Zachmann | |
2020-07-08 | |
出版年 | 2020 |
国家 | 欧洲 |
领域 | 资源环境 |
英文摘要 |
The issue The long road to economic recovery from the COVID-19 shock is just beginning. European countries are considering how best to reboot their economies, with fiscal stimulus plans at the core of the consideration. Meanwhile, the European Commission has put forward its Next Generation EU plan. These stimulus packages will amount to several percentage points of GDP, and can therefore influence the future orientation of the economic system. For this reason, policymakers aim to incorporate long-term goals into recovery packages, most fundamentally a just transition towards a climate-neutral economy. Policy challenge Greening the recovery is a significant policy challenge. While there clearly are recovery policies that have positive effects on greening the economy, such as promoting energy renovation of buildings, there is a limit to the proportion of stimulus that can be explicitly greened. Beyond focusing on greening explicit stimulus policies where possible, greater emphasis should thus be placed on altering expectations, so that market agents anticipate higher future pay-offs from low-carbon investment. The European Union needs to announce today a significant increase in carbon prices after 2021, to be engineered through revisions of the Emission Trading System and the Energy Taxation Directive. Such reforms could provide annual additional revenues €90 billion. This could make a major contribution to post-COVID-19 fiscal consolidation requirements, which might be in the order of one percent of GDP per year. Recommended citation: |
URL | 查看原文 |
来源平台 | Bruegel |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/283423 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | Ben McWilliams,Simone Tagliapietra and Georg Zachmann. Greening the recovery by greening the fiscal consolidation,2020. |
条目包含的文件 | 条目无相关文件。 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论