Many countries in the MENA region are heavily dependent on oil and gas for exports and taxes. But global decarbonisation could undermine revenues, even though MENA exports are globally competitive. This threatens the MENA region's social contract, so economic diversification needs to start now.
Middle East and North Africa (MENA) oil exporting countries are still not adequately equipped to prosper in a decarbonising world. Decarbonisation should therefore represent an incentive for MENA oil exporters to pursue structural processes of transition from rentier to production states.
Decarbonisation and digitalisation are reshaping the European energy system, which will become more decentralised and interconnected with other sectors. Cities have the opportunity to be the key drivers of decarbonisation, but this will require the implementation of a new bottom-up governance system. This paper outlines a four-step mechanism in order to achieve decarbonisation at city level.
As the European Commission releases its new energy package, “Clean Energy for all Europeans”, our authors argue that cities are the key to success. They propose a new governance mechanism where cities develop and implement ambitious City Climate Plans – with direct monitoring and financial support from the EU.
Decarbonisation plays a crucial role in the fight against climate change. What progress has been made so far, and what are the challenges ahead?
Decarbonisation and digitalisation: two mega trends that will change the European energy system.
Energy taxes contribute significantly to public budgets in the EU, but with the aim to reduce greenhouse emissions, the EU will have to fully decarbonise its energy system. However, taxing green energy poses a significant challenge, which could result in a tax revenue gap. Before this becomes a reality, European governments must start looking for alternative sources of public finance.
In order to secure growth and jobs, Europe needs a new growth model built on developing emerging sectors with high value added. But in which sectors can Europe grow, and what economic policies would work?
Maroš Šefčovič, Vice-President for Energy Union at the European Commission, delivered the closing keynote speech at Bruegel's Annual Meetings on 7 September 2016.
This closed-door brainstorming workshop will discuss how the energy system of the future will be shaped by the interaction between decarbonisation and digitalisation.
Protecting the EU's external borders is a shared task, which can be most effectively carried out if paid for with common funding. A tax on carbon combined with borrowing could fund refugee policy and also help the EU achieve its climate goals.
The current unsustainable use of our environment can lead to financial crisis. To address this risk, financial institutions should measure their exposure to ecological imbalances using methodologies such as carbon and natural capital accounting.