Insight
European Green Deal 2050 - a very deep line in the sand for climate change
Report summary
Last month, the new president of the European Commission (EC) – Ursula von der Leyen – announced the European Green Deal. The plan outlines what it would take to make Europe the world’s first climate-neutral continent. It is an incredibly ambitious commitment. The headline target of the Green Deal increases the current 40% greenhouse gas (GHG) reduction by 2030 target, to 50-55%, and on to economy wide net-zero by 2050. But there are other critical elements to it. In this insight, we ask the following questions, and discuss potential outcomes: 1) Where Europe stands today? 2) Where the Green Deal will take Europe to? 3) What Europe needs to do to get there – and which key sectors are critical? 4) How the carbon border tax might work? 5) How to account for losses in government tax contributions? 6) How to pay for it? 7) How achievable it may be?
Table of contents
- 1. Where does Europe stand today?
- 2. Where will the Green Deal take Europe?
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3.What does Europe need to do to get there?
- The power sector
- Coal
- Nuclear
- Gas
- The flexibility challenge
- Non-power sectors
- 4.How will the carbon border tax work?
- 5. How to account for losses in government tax contributions?
- 6.How to pay for it?
- 7. How achievable is this?
Tables and charts
This report includes 4 images and tables including:
- Renewable electricity supply – outturns and targets
- The overriding objectives of the Green Deal
- Timeline of Key Measures in the Green Deal
- Green Deal annual target budget and assumed value of proposed funding sources
What's included
This report contains:
