Transition to a Low-Carbon Economy and the Impact on the Urban Regeneration Process

Anna-Maria Vasile
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Anna-Maria Vasile: National Institute for Economic Research ‘Costin C. Kirițescu’, Romanian Academy

Chapter Chapter 12 in Crisis after the Crisis: Economic Development in the New Normal, 2023, pp 157-175 from Springer

Abstract: Abstract The transition to a low-carbon economy, based on restructuring processes in energy-intensive industries, is underway in Romania. The decline began about 20 years ago, with a gradual reduction in the activity of some branches of heavy industry and major redundancies. Romania’s trajectory to reduce GHG emissions is similar to that of the EU. The direct effect of the transition from a carbon-constrained economy to activities that do not put a strain on the climate to a climate-neutral economy is mainly the reduction of greenhouse gases (GHG), with major impact on the energy sector. The second component of the overall impact is the impact due to the change in fuel demand following the promotion of electromobility. The third component refers to the degree of damage to the area, the area in the process of urban regeneration, due to its significant role in urban transformation and development in general. Thus, the process of transition to a low-carbon economy will determine the need to reconvert contaminated and abandoned territories, and their eventual transformation will require a significant volume of investment. Investments that improve the quality of life could help attract and retain a more skilled workforce, along with business support schemes aimed at high-knowledge services and technology, as well as territorial reconversion, which will inspire the process of urban regeneration. The opportunities and challenges can pose dangers to the environment, given their nature, or a threat to the urban structure that distorts mobility, generating spatial segregation and inhibiting development in their vicinity. Such land reserves, especially those located in urban areas, can be capitalized as valuable assets for public or public-private investment in industrial conversion.

Keywords: Just transition; Carbon reduction; Urban regeneration (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-30996-0_12

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DOI: 10.1007/978-3-031-30996-0_12

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