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RRF 2.0: Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln

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RRF 2.0 Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln This publication is available in German language only. For a brief English summary see further below. Während der Klimawandel schon länger eine grüne Wende unseres Wirtschaftens verlangt, beschleunigt die aktuelle Energiekrise die Dringlichkeit für eine Umstellung der Energie- und Transportsysteme. Die Recovery and Resilience Facility (RRF), welche zur wirtschaftlichen Abfederung der Covid-19-Krise beschlossen wurde, entspricht einer ersten groß angelegten EU-weiten Investitionsinitiative, die unter anderem Ziele im Bereich der Dekarbonisierung verfolgt. Die RRF-Ausgaben werden jedoch nicht ausreichen, um die Klimaziele in den kommenden Jahrzehnten zu erreichen. Zur Einhaltung der Klimaziele bräuchte es zusätzliche öffentliche Investitionen im Umfang von mindestens 1% der EU-Wirtschafsleistung pro Jahr. Die in Aussicht stehende Reform der EU-Fiskalregeln würde eine Steigerung der öffentlichen Investitionen auf nationaler Ebene nicht in ausreichendem Maße ermöglichen. Die Einrichtung eines permanenten EU-Klima- und Energieinvestitionsfonds mit Zuschüssen im Ausmaß von mindestens 1% der EU-Wirtschaftsleistung zur Finanzierung öffentlicher Investitionen stellt eine funktional adäquate Alternative zur goldenen Investitionsregel dar Der Spielraum in den nationalen Haushalten der EU-Mitgliedstaaten würde sich wesentlich erweitern, sodass die Regierungen einen wichtigen Schritt in Richtung einer grünen Wende setzen und gleichzeitig die EU-Fiskalregeln eher einhalten können. Die finanzierten Investitionsprojekte könnten außerdem verstärkt auf genuin europäische Projekte mit einem EU-Mehrwert gerichtet werden. Ein solcher permanenter EU-Investitionsfonds für Klima und Energie könnte die Gemeinschaft der EU-Mitgliedstaaten nicht nur von innen heraus wirtschaftlich und politisch stärken, sondern auch ihre zukünftige geostrategische Handlungsfähigkeit in unsicheren Zeiten fördern. RRF 2.0 A Permanent EU Investment Fund in the Context of the Energy Crisis, Climate Change and EU Fiscal Rules While climate change has long called for a green shift in our economies, the current energy crisis leads to an increased urgency when it comes to transforming the energy and transportation systems. The Recovery and Resilience Facility (RRF), which was adopted to support recovery from the Covid-19 crisis, corresponds to a first large-scale EU-wide investment initiative, including decarbonization goals. However, RRF spending will not be sufficient to meet climate targets in the coming decades. Meeting climate targets would require additional public investment equivalent to at least 1% of EU economic output per year. The reform of EU fiscal rules under consideration would not enable a sufficient increase in public investment at the national level. The establishment of a permanent EU climate and energy investment fund amounting to at least 1% of EU economic output to finance public investment represents a functionally adequate alternative to the golden rule of investment. The fiscal space in the national budgets of EU member states would be substantially expanded, allowing governments to take an important step in the green transition while being more likely to comply with EU fiscal rules. Investment could also be increasingly directed toward genuinely European projects with EU added value. Such a permanent EU investment fund for climate and energy would not only strengthen the community of EU member states economically and politically from within, but also promote its future geostrategic capacity to act.

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  • Philipp Heimberger & Andreas Lichtenberger, 2022. "RRF 2.0: Ein permanenter EU-Investitionsfonds im Kontext von Energiekrise, Klimawandel und EU-Fiskalregeln," wiiw Research Reports in German language 23, The Vienna Institute for International Economic Studies, wiiw.
  • Handle: RePEc:wii:ratpap:rpg:23
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    More about this item

    Keywords

    Investitionen; EU; Europa; Klimawandel; Energiekrise; Finanzierung; RRF 2.0;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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