Green Fiscal Reforms : Part Two of Strengthening Inclusion and Facilitating the Green Transition
In the post-pandemic world, EU member states will need to embrace two simultaneous challenges. These will include recovering from the COVID-19 pandemic and embracing the ambitions of the European Green Deal, which maps out broad policies aimed at a...
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| Format: | Report |
| Language: | English |
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Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099210004132242573/P174922043ab8602d09ef10d86a66786dda http://hdl.handle.net/10986/37308 |
| Summary: | In the post-pandemic world, EU member
states will need to embrace two simultaneous challenges.
These will include recovering from the COVID-19 pandemic and
embracing the ambitions of the European Green Deal, which
maps out broad policies aimed at achieving carbon neutrality
by 2050 and reducing emissions by 55 percent by 2030.
Compared to the emissions reduction achieved during
1990–2018 by the EU27 countries, the 2018–30 target is 50
percent more ambitious and is to be achieved in a third of
the time. Meanwhile, the emissions reduction planned during
2030–50 will be even steeper. The transition in some EU
countries will be particularly challenging, given their high
energy intensity, significant dependence on fossil fuels for
power generation and an increasing and environmentally
unfriendly transport fleet. In addition, households will
need to be supported in the transition, to avoid a
substantial share of the population being adversely affected. |
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