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Book/Special report

Developing the EU long term climate strategy

To ensure that EU climate policy is in line with the goals of the Paris Agreement, and takes into account substantial recent shifts in the technical and political framework, the EU needs a new long-term climate strategy that will supersede the 2050 Roadmap that was issued in 2011.

By: and Date: April 18, 2018 Topic: Energy & Climate

Designing a new long-term climate strategy (LTCS) implies decisions about how to deal with important climate policy questions. These decisions will shape the strategy and therefore the European climate policy debate.

Given the different tasks an LTCS will need to perform, several coordinated strategy documents with clearly defined purposes will be needed: a sequence (or suite) of strategic documents that outline the EU’s decarbonisation strategy for different audiences.

Given the wide-ranging implications of the drive for net-zero emissions and the limited power of the European Commission to push through top-down legislation, soft instruments such as the LTCS are crucial. A transparent and participatory process in developing the LTCS is therefore vital to generate the buy-in from stakeholders that is necessary to underpin the climate policies that will meet the ambitious goals of the Paris Agreement.

 This policy paper draws on the comprehensive discussion in a technical paper available here.

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Opinion

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Podcast

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By: The Sound of Economics Topic: European Macroeconomics & Governance Date: February 21, 2019
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Working Paper

Greening monetary policy

The author proposes a tilting approach to steer the allocation of the Eurosystem’s assets and collateral towards low-carbon sectors, which would reduce the cost of capital for these sectors relative to high-carbon sectors. Central banks have already started to look at climate-related risks in the context of financial stability. Should they also take the carbon intensity of assets into account in the context of monetary policy?

By: Dirk Schoenmaker Topic: Energy & Climate, European Macroeconomics & Governance Date: February 19, 2019
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Opinion

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