TY - JOUR

T1 - A New Climate for Europe

T2 - 2030 Climate Targets Must Be More Ambitious

AU - Oei, Pao Yu

AU - Hainsch, Karlo

AU - Löffler, Konstantin

AU - Hirschhausen, Christian von

AU - Kemfert, Claudia

PY - 2019/10/9

Y1 - 2019/10/9

N2 - Amidst other national and global climate protection initiatives, the new EU Commission under the leadership of Ursula von der Leyen is facing the challenge of concretely following through on previous announcements regarding an ambitious climate policy. Specifically, action must be taken to raise the 2030 climate targets and the 2050 long-term strategy must be revised in adherence with the Paris Agreement. Model calculations by DIW Berlin economists show that it is possible and economically feasible to increase the 2030 emission reduction target from 40 to 60 percent compared to 1990. The considerable environmental cost savings are offset by small increases in energy system costs. When implementing an aggressive climate policy, burden sharing between the member states must be considered. Furthermore, neither nuclear power nor CO2 capture technology is needed to implement these ambitious climate targets, as the results of European model scenarios from the SET-Nav project show.

AB - Amidst other national and global climate protection initiatives, the new EU Commission under the leadership of Ursula von der Leyen is facing the challenge of concretely following through on previous announcements regarding an ambitious climate policy. Specifically, action must be taken to raise the 2030 climate targets and the 2050 long-term strategy must be revised in adherence with the Paris Agreement. Model calculations by DIW Berlin economists show that it is possible and economically feasible to increase the 2030 emission reduction target from 40 to 60 percent compared to 1990. The considerable environmental cost savings are offset by small increases in energy system costs. When implementing an aggressive climate policy, burden sharing between the member states must be considered. Furthermore, neither nuclear power nor CO2 capture technology is needed to implement these ambitious climate targets, as the results of European model scenarios from the SET-Nav project show.

KW - Economics

KW - Environmental markets

KW - Climate policy

KW - research and development

KW - Europe

KW - Energy economics

U2 - 10.18723/diw_dwr:2019-40-1

DO - 10.18723/diw_dwr:2019-40-1

M3 - Journal articles

VL - 9

SP - 365

EP - 372

JO - DIW Weekly Report

JF - DIW Weekly Report

SN - 1860-3343

IS - 40/41

ER -