IDEAS home Printed from https://ideas.repec.org/a/spr/intere/v56y2021i2d10.1007_s10272-021-0963-z.html
   My bibliography  Save this article

The European Green Deal — More Than Climate Neutrality

Author

Listed:
  • Sarah Wolf

    (Global Climate Forum e.V.)

  • Jonas Teitge

    (Global Climate Forum e.V.)

  • Jahel Mielke

    (Global Climate Forum e.V.)

  • Franziska Schütze

    (German Institut for Economic Research (DIW Berlin))

  • Carlo Jaeger

    (Arizona State University)

Abstract

The European Green Deal aims at climate neutrality for Europe by 2050, implying a significant acceleration of emission reductions. To gain the necessary support, it needs to reduce regional and social inequalities in Europe. We present objectives in terms of jobs, growth and price stability to complement the emission reduction targets and sketch a proof-of-concept investment profile for reaching these goals. Substantial additional annual public investments, of about 1.8% of pre-COVID-19 GDP, are proposed for the next decade. Their allocation includes retrofitting the European building stock, consciously fostering a renewal of the European innovation system as well as complementary measures in the fields of education and health. The scenario outlined in this article is meant as an input to the urgently needed discussion on how the European Green Deal can shift the EU economy to a new development path that realises a carbon-neutral Europe by 2050 while strengthening European cohesion.

Suggested Citation

  • Sarah Wolf & Jonas Teitge & Jahel Mielke & Franziska Schütze & Carlo Jaeger, 2021. "The European Green Deal — More Than Climate Neutrality," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(2), pages 99-107, March.
    • Handle: RePEc:spr:intere:v:56:y:2021:i:2:d:10.1007_s10272-021-0963-z
    DOI: 10.1007/s10272-021-0963-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10272-021-0963-z
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10272-021-0963-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Yann Algan & Sergei Guriev & Elias Papaioannou & Evgenia Passari, 2017. "The European Trust Crisis and the Rise of Populism," Post-Print hal-02381560, HAL.
    2. Hector Sala & José Silva, 2013. "Labor productivity and vocational training: evidence from Europe," Journal of Productivity Analysis, Springer, vol. 40(1), pages 31-41, August.
    3. repec:spo:wpmain:info:hdl:2441/4vsqk7docb9nmophtp29pk68cr is not listed on IDEAS
    4. Yann Algan & Sergei Guriev & Elias Papaioannou & Evgenia Passari, 2017. "The European Trust Crisis and the Rise of Populism," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(2 (Fall)), pages 309-400.
    5. Mariana Mazzucato, 2018. "Mission-oriented innovation policies: challenges and opportunities," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 27(5), pages 803-815.
    6. Laurence M. Ball, 2014. "The Case for a Long-Run Inflation Target of Four Percent," IMF Working Papers 2014/092, International Monetary Fund.
    7. repec:hal:spmain:info:hdl:2441/2i9jel1usb85nr2j7tejsaldfu is not listed on IDEAS
    8. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
    9. repec:hal:spmain:info:hdl:2441/4vsqk7docb9nmophtp29pk68cr is not listed on IDEAS
    10. Thomas Blanchet & Lucas Chancel & Amory Gethin, 2019. "How Unequal is Europe? Evidence from Distributional National Accounts, 1980-2017," World Inequality Lab Working Papers hal-02877000, HAL.
    11. repec:spo:wpmain:info:hdl:2441/2gtm5um5lm9vvo08gf2gn4a066 is not listed on IDEAS
    12. repec:spo:wpmain:info:hdl:2441/2i9jel1usb85nr2j7tejsaldfu is not listed on IDEAS
    13. repec:hal:spmain:info:hdl:2441/2gtm5um5lm9vvo08gf2gn4a066 is not listed on IDEAS
    14. Jérôme Creel & Mario Holzner & Francesco Saraceno & Andrew Watt & Jérôme Wittwer, 2020. "How to spend it. A proposal for a European Covid-19 recovery programme," Post-Print hal-03384646, HAL.
    15. repec:hal:spmain:info:hdl:2441/1divsbu8t888r9vqektjbmlqoa is not listed on IDEAS
    16. Andrea Boitani & Salvatore Perdichizzi, 2018. "Public Expenditure Multipliers in recessions. Evidence from the Eurozone," DISCE - Working Papers del Dipartimento di Economia e Finanza def068, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    17. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 2.
    18. Claudius Gräbner & Philipp Heimberger & Jakob Kapeller & Bernhard Schütz, 2020. "Corrigendum to: Is the Eurozone disintegrating? Macroeconomic divergence, structural polarisation, trade and fragility," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 44(4), pages 979-979.
    19. Dennis Tamesberger & Johann Bacher, 2020. "COVID-19 Crisis: How to Avoid a ‘Lost Generation’," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(4), pages 232-238, July.
    20. Franziska Schütze & Jan Stede & Marc Blauert & Katharina Erdmann, 2020. "EU Taxonomy Increasing Transparency of Sustainable Investments," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 10(51), pages 485-492.
    21. Mariana Mazzucato, 2016. "From market fixing to market-creating: a new framework for innovation policy," Industry and Innovation, Taylor & Francis Journals, vol. 23(2), pages 140-156, February.
    22. Bastida, Leire & Cohen, Jed J. & Kollmann, Andrea & Moya, Ana & Reichl, Johannes, 2019. "Exploring the role of ICT on household behavioural energy efficiency to mitigate global warming," Renewable and Sustainable Energy Reviews, Elsevier, vol. 103(C), pages 455-462.
    23. Michael Jakob & William F. Lamb & Jan Christoph Steckel & Christian Flachsland & Ottmar Edenhofer, 2020. "Understanding different perspectives on economic growth and climate policy," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 11(6), November.
    24. Carlo Jaeger, 2014. "Choice for China: What Role for Vocational Education in Green Growth?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(5), pages 55-75, September.
    25. Franziska Bremus & Geraldine Dany-Knedlik & Thore Schlaak, 2020. "Price Stability and Climate Risks: Sensible Measures for the European Central Bank," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 10(14), pages 205-213.
    26. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
    27. Franziska Schütze & Steffen Fürst & Jahel Mielke & Gesine A. Steudle & Sarah Wolf & Carlo C. Jaeger, 2017. "The Role of Sustainable Investment in Climate Policy," Sustainability, MDPI, vol. 9(12), pages 1-19, December.
    28. repec:spo:wpmain:info:hdl:2441/1divsbu8t888r9vqektjbmlqoa is not listed on IDEAS
    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. Dong, Kangyin & Yang, Senmiao & Wang, Jianda & Nepal, Rabindra & Jamasb, Tooraj, 2024. "Does Geopolitical Risk Accelerate Climate Vulnerability? New Evidence from the European Green Deal," Working Papers 15-2024, Copenhagen Business School, Department of Economics.
    2. Lucrezia Fanti & Marcelo C. Pereira & Maria Enrica Virgillito, 2024. "The Agents of Industrial Policy and the North-South Convergence: State-Owned Enterprises in an International-Trade Macroeconomic ABM," DISCE - Working Papers del Dipartimento di Politica Economica dipe0041, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    3. Kateryna Redko & Olena Borychenko & Anatolii Cherniavskyi & Volodymyr Saienko & Serhii Dudnikov, 2023. "Comparative Analysis of Innovative Development Strategies of Fuel and Energy Complex of Ukraine and the EU Countries: International Experience," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 301-308, March.
    4. Andrea Ciambra & Iraklis Stamos & Alice Siragusa, 2023. "Localizing and Monitoring Climate Neutrality through the Sustainable Development Goals (SDGs) Framework: The Case of Madrid," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    5. Aleksandra Kozłowska-Woszczycka & Katarzyna Pactwa, 2022. "Social License for Closure—A Participatory Approach to the Management of the Mine Closure Process," Sustainability, MDPI, vol. 14(11), pages 1-26, May.
    6. Best, Frank & Tang, Anita, 2024. "Assessing the Effectiveness of EU Countries in Implementing the Paris Agreement," EconStor Preprints 300280, ZBW - Leibniz Information Centre for Economics.
    7. Tomasz Grodzicki, 2024. "Disparities in Energy Productivity across the EU Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 87-92, May.
    8. Federica Leone & Ala Hasan & Francesco Reda & Hassam ur Rehman & Fausto Carmelo Nigrelli & Francesco Nocera & Vincenzo Costanzo, 2023. "Supporting Cities towards Carbon Neutral Transition through Territorial Acupuncture," Sustainability, MDPI, vol. 15(5), pages 1-31, February.
    9. Giovanni Dosi & Lorenzo Cresti & Federico Riccio & Maria Enrica Virgillito, 2024. "Industrial policies for global commons: why it is time to think of the ghetto rather than of the moon," LEM Papers Series 2024/32, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    10. Małgorzata Grzelak & Magdalena Rykała, 2021. "Modeling the Price of Electric Vehicles as an Element of Promotion of Environmental Safety and Climate Neutrality: Evidence from Poland," Energies, MDPI, vol. 14(24), pages 1-18, December.

    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. Daniele Archibugi & Vitantonio Mariella, 2021. "Is a European Recovery Possible Without High-Tech Public Corporations?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(3), pages 160-166, May.
    2. Michael Dauderstädt, 2020. "Einkommensungleichheit in der EU [Income Disparities in the European Union]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 100(8), pages 628-632, August.
    3. Michael Grömling, 2021. "COVID-19 and the Growth Potential," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(1), pages 45-49, January.
    4. repec:ejw:journl:v:5:y:2008:i:3:p:294-315 is not listed on IDEAS
    5. repec:ejw:journl:v:6:y:2009:i:1:p:73-112 is not listed on IDEAS
    6. repec:ejw:journl:v:5:y:2008:i:2:p:193-198 is not listed on IDEAS
    7. Peter Hennecke, 2021. "The ECB’s New Monetary Policy Strategy," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(5), pages 295-298, September.
    8. Toma Lankauskiene, 2021. "Labour Productivity Growth Determinants in the Manufacturing Sector in the Baltic States," ConScienS Conference Proceedings 025tl, Research Association for Interdisciplinary Studies.
    9. Lars P Feld & Volker Wieland, 2021. "The German Federal Constitutional Court Ruling and the European Central Bank’s Strategy," Journal of Financial Regulation, Oxford University Press, vol. 7(2), pages 217-253.
    10. Núñez Ferrer, Jorge, 2021. "Avoiding the Main Risks in the Recovery Plans of Member States," CEPS Papers 32463, Centre for European Policy Studies.
    11. repec:ejw:journl:v:5:y:2008:i:2:p:227-239 is not listed on IDEAS
    12. repec:ejw:journl:v:7:y:2010:i:1:p:4-52 is not listed on IDEAS
    13. repec:ejw:journl:v:6:y:2009:i:1:p:35-59 is not listed on IDEAS
    14. repec:ejw:journl:v:6:y:2009:i:2:p:181-194 is not listed on IDEAS
    15. Kjerstin Tevik & Geir Selbæk & Knut Engedal & Arnfinn Seim & Steinar Krokstad & Anne-S Helvik, 2019. "Mortality in older adults with frequent alcohol consumption and use of drugs with addiction potential – The Nord Trøndelag Health Study 2006-2008 (HUNT3), Norway, a population-based study," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-24, April.
    16. repec:gig:chaktu:v:40:y:2011:i:1:p:3-17 is not listed on IDEAS
    17. Yunhee Park & Hyun-Jung Yun, 2020. "A Multilevel Investigation of Fall Prevention Behavior Among Nursing Staff of South Korean Geriatric Hospitals," Global Journal of Health Science, Canadian Center of Science and Education, vol. 12(10), pages 1-97, September.
    18. repec:ejw:journl:v:4:y:2007:i:3:p:338-344 is not listed on IDEAS
    19. repec:ejw:journl:v:5:y:2008:i:1:p:59-65 is not listed on IDEAS
    20. repec:ejw:journl:v:5:y:2008:i:2:p:240-268 is not listed on IDEAS
    21. Junghyun Yoon & Dae-su Kim, 2016. "Empirical Relationships among Technological Characteristics, Global Orientation, and Internationalisation of South Korean New Ventures," Sustainability, MDPI, vol. 8(12), pages 1-13, December.
    22. repec:ejw:journl:v:5:y:2008:i:1:p:78-90 is not listed on IDEAS
    23. repec:ejw:journl:v:6:y:2009:i:2:p:218-238 is not listed on IDEAS
    24. Achim Truger, 2021. "Reform der EU-Fiskalregeln nach Corona wichtiger denn je," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(2), pages 94-98, February.
    25. Heng Zhang & Chengyou Wang & Xiao Zhou, 2017. "A Robust Image Watermarking Scheme Based on SVD in the Spatial Domain," Future Internet, MDPI, vol. 9(3), pages 1-16, August.
    26. Hyun Min Oh & Sam Bock Park & Hee Young Ma, 2020. "Corporate Sustainability Management, Earnings Transparency, and Chaebols," Sustainability, MDPI, vol. 12(10), pages 1-19, May.
    27. Vellingiri Vadivel & Pemaiah Brindha, 2017. "Wound Healing Potential of Ipomoea carnea Jacq.: An Un-Explored Herb Used in Indian Traditional System of Medicine," Global Journal of Pharmacy & Pharmaceutical Sciences, Juniper Publishers Inc., vol. 3(1), pages 1-5, June.
    28. Aldo Alvarez-Risco & Sabina Mlodzianowska & Verónica García-Ibarra & Marc A. Rosen & Shyla Del-Aguila-Arcentales, 2021. "Factors Affecting Green Entrepreneurship Intentions in Business University Students in COVID-19 Pandemic Times: Case of Ecuador," Sustainability, MDPI, vol. 13(11), pages 1-16, June.
    29. Yingyos Leechaianan & Dennis R. Longmire, 2013. "The Use of the Death Penalty for Drug Trafficking in the United States, Singapore, Malaysia, Indonesia and Thailand: A Comparative Legal Analysis," Laws, MDPI, vol. 2(2), pages 1-35, June.
    30. Byeolbee Um, 2018. "Ego-Resiliency, Parenting Style, and Peer Attachment as Predictors of South Korean Middle School Students’ School Adjustment," International Journal of Social Science Studies, Redfame publishing, vol. 6(7), pages 14-30, July.
    31. Takayuki Hayashi & Yuko Fujigaki, 1999. "Differences in knowledge production between disciplines based on analysis of paper styles and citation patterns," Scientometrics, Springer;Akadémiai Kiadó, vol. 46(1), pages 73-86, September.
    32. Dennis Tamesberger & Johann Bacher, 2020. "COVID-19 Crisis: How to Avoid a ‘Lost Generation’," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(4), pages 232-238, July.
    33. repec:ejw:journl:v:6:y:2009:i:3:p:337-348 is not listed on IDEAS
    34. Oliver Read & Stefan Schäfer, 2020. "Libra Project: Regulators Act on Global Stablecoins," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(6), pages 392-398, November.

    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:spr:intere:v:56:y:2021:i:2:d:10.1007_s10272-021-0963-z. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.