What is it about?
Europe has a plan to make its economy more sustainable and reduce its impact on the environment. This plan includes a package of measures called Fit for 55, which aims to cut greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. This transition to a greener economy will require significant investment, but it is also estimated to create jobs and save money in the long run. For example, the avoided costs of emissions are estimated to be €36 billion, while the costs of energy savings are expected to be €30 billion. This paper provides an in-depth analysis of the economic and environmental impacts of Fit for 55. It concludes that the package of measures is a cost-effective way to achieve Europe's climate goals.
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Why is it important?
Investing in decarbonization is crucial for transitioning to a greener economy and mitigating climate change. However, this transition comes with significant economic and environmental implications that need to be carefully considered by policymakers. By carefully considering these implications, policymakers can make informed decisions that promote a sustainable future.
Perspectives
By carefully considering the economic and environmental implications of investing in decarbonization, policymakers can make the transition to a greener economy efficient and effective
Giacomo Di Foggia
Universita degli Studi di Milano-Bicocca
Read the Original
This page is a summary of: Meeting decarbonization targets: Techno-economic insights from the Italian scenario, DeCarbon, September 2023, Elsevier,
DOI: 10.1016/j.decarb.2023.100022.
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