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Policy Brief

No Green Growth Without Innovation

This Policy Brief, co-written by Senior Non-Resident Fellow ” target=”_blank”>Reinhilde Veugelers and David Hemous of Harvard University, attempts to change the terms of the debate surrounding climate change policy. The authors argue that policymakers should do more to encourage innovation and investment in ‘green’ research and development rather than focusing solely on the setting of […]

By: , and Date: November 23, 2009 Topic: Energy & Climate

This Policy Brief, co-written by Senior Non-Resident Fellow ” target=”_blank”>Reinhilde Veugelers and David Hemous of Harvard University, attempts to change the terms of the debate surrounding climate change policy. The authors argue that policymakers should do more to encourage innovation and investment in ‘green’ research and development rather than focusing solely on the setting of a carbon price. Using a model developed by Aghion in a previous paper, they argue that a carbon price would have to be about 15 times higher in the first five years and 12 times higher in the next five years if innovation is not properly subsidized by governments. The authors also provide several policy recommendations for incentivising this type of ‘green growth’ in the private sector.

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Opinion

Europe’s Green Deal must reach beyond its borders

A European Climate and Sustainable Development Bank could become the external investment arm of the European Green Deal

By: Simone Tagliapietra and Georg Zachmann Topic: Energy & Climate Date: February 4, 2020
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Blog Post

Climate risks to European banks: a new era of stress tests

Several European central banks have begun assessing the impact of adverse climate scenarios on banks’ capital. Comparable work at EU or euro area level has evolved more slowly. Supervisors need build up a distinct and more complex type of analysis, and should engage with banks now.

By: Alexander Lehmann Topic: Energy & Climate, Finance & Financial Regulation Date: February 4, 2020
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Opinion

Berlin will make or break the European Green Deal

€1 trillion isn't enough for the European Green Deal and the EU's fiscal framework is constraining public investment. "Mrs Merkel, tear down this rule".

By: Grégory Claeys and Simone Tagliapietra Topic: Energy & Climate Date: February 3, 2020
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Podcast

Podcast

Paying for the European Green Deal

The European Commission has presented its Just Transition Fund to help regions still dependent on fossil fuel as they move towards green energy. But where does the money come from and is it enough to make Europe carbon neutral by 2050? Should the EU re-write its fiscal rules to encourage sustainable investment? And should environmentalists be optimistic? Nicholas Barrett asked Simone Tagliapietra and Grégory Claeys.

By: The Sound of Economics Topic: Energy & Climate Date: January 16, 2020
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Blog Post

European green finance is expanding, a discount on bank capital would discredit it

If EU banks are to mobilise a greater share of loans for sustainable projects they will need a reliable policy framework, clear internal performance targets and the relevant skills. A discount on bank capital underlying such assets is neither justified nor likely effective. A comprehensive review of how climate risks are reflected in prudential regulation is nevertheless in order

By: Alexander Lehmann Topic: Energy & Climate Date: January 15, 2020
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Blog Post

A trillion reasons to scrutinise the Green Deal Investment Plan

The European Commission has revealed its €1 trillion investment plan for the European Green Deal. This will not be enough to unleash the expected "green investment wave". For that to happen, more must be done

By: Grégory Claeys and Simone Tagliapietra Topic: Energy & Climate Date: January 15, 2020
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Opinion

The Green Deal is not just one of many EU projects, it is the new defining mission

The EU has already invested so much of its political capital into the green transition that a failure to deliver would severely damage its legitimacy.

By: Jean Pisani-Ferry Topic: Energy & Climate Date: January 3, 2020
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Blog Post

2019 on #econtwitter, in a million tweets

What did academic economists talk about in 2019? I collected one million tweets from popular academic economists over the year, and analysed the topics discussed.

By: Enrico Bergamini Topic: Energy & Climate, European Macroeconomics & Governance, Finance & Financial Regulation, Global Economics & Governance, Innovation & Competition Policy Date: December 19, 2019
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Opinion

Europe’s Apollo 11 will not be about the moon

The European Green Deal has an ambitious double target to “reconcile the economy with the planet” and to become Europe’s “new growth strategy”.

By: Simone Tagliapietra Topic: Energy & Climate Date: December 13, 2019
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Podcast

Podcast

What's inside the European Green Deal?

President Ursula Von der Leyen has presented her European Green Deal before the European Parliament. How will it work? What are its implications? And will it make Europe carbon neutral by 2050? Nicholas Barrett asks  Simone Tagliapietra what's inside the Green Deal.

By: The Sound of Economics Topic: Energy & Climate Date: December 11, 2019
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Blog Post

The European Green Deal needs a reformed fiscal framework

The European Green Deal should include a sustainable investment strategy that will help citizens change behaviour and companies switch technologies. But to finance it, the EU will have to increase the flexibility of its fiscal rules to encourage member states to invest in the transition.

By: Grégory Claeys Topic: Energy & Climate Date: December 10, 2019
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Policy Contribution

The European Union-Russia-China energy triangle

Concern is growing in the European Union that a rapprochement between Russia and China could have negative implications for the EU.

By: Georg Zachmann Topic: Energy & Climate Date: December 9, 2019
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