Carbon Pricing and Carbon Border Adjustment Mechanism: for a European Union Global Strategy

Olimpia Fontana

No 52, Policy Papers from Fondazione Centro Studi sul Federalismo

Abstract: In 2019, the European Commission launched the European Green Deal and outlined its developing model to combat climate change, particularly focused on accelerating the pace of reducing CO2 emissions. Emissions in Europe have thus far been reduced by 20% compared to 1990 values, while now the goal, as the "Fit for 55" package suggests, is to achieve a 55% reduction by 2030 and to reach climate neutrality by 2050. With these commitments, the EU intends to comply with the Paris Agreement by keeping “the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels, recognising that this would significantly reduce the risks and impacts of climate change†(Art. 2(1)(a) of the Agreement).[...]

Keywords: European Commission; European Green Deal; CO2; climate change; carbon pricing; carbon leakage (search for similar items in EconPapers)
JEL-codes: E43 E58 F33 F38 F41 F42 G15 H71 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2022-05
New Economics Papers: this item is included in nep-ene, nep-env and nep-int
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