The third installment of the 'European Public Investment Outlook' series is an important and timely publication that draws together recent analyses to recommend significant increases in public investment in green ventures. Compelling data from key economists affiliated with international organizations like the International Monetary Fund, European Investment Bank and the European Commission, as well as academic departments and policy institutes are a clarion call for green investment to boost the economy and put the planet on a sustainable path.
Like its predecessors, the book presents the issues in a lucid and navigable manner. Part I explores the EU's current levels of green public investment, as well as the challenges ahead in achieving net zero carbon emissions after years of decreasing funding and the obstacles presented by the COVID-19 pandemic and the Russian invasion of Ukraine. The public investment trends of France, Germany, Italy and Spain are systematically evaluated, as well as the REPowerEU policy - accelerated in Spring 2022 - to move away from Russia's supply of fossil fuels. Part II focuses on the investment needed for green transition; the important economic and fiscal effects and benefits this would bring; and the reality of what is required before 2030 to achieve the EU's carbon-neutral targets by 2050.
Greening Europe is essential reading for economists, environmentalists, and policymakers. It should also be of interest to anyone who wants to understand the cost implications of the 'carbon-neutral' policies that governments have promised, and the urgent need to change our approach towards energy usage.
This open book is licensed under a Creative Commons License (CC BY). You can download Greening Europe ebook for free in PDF format (15.3 MB).
Table of Contents
Challenges for Public Investment in the EU: The Role of Policy, Energy Security and Climate Transition
Public Investment and Low-carbon Transition in France: Not Enough of a Good Thing?
Public Investment in Germany: Squaring the Circle
NRRP - Italy's Strategic Reform and Investment Programme: Sustaining an Ecological Transition
Current Challenges in the Spanish Energy Market
How Big Are Green Spending Multipliers?
Europe's Green Investment Requirements and the Role of Next Generation EU
The Public Spending Needs of Reaching the EU's Climate Targets
The Investment Needs for REPowerEU
Public Spending for Future Generations: Recent Trends in EU Countries
Assessing the Quality of Green Finance Standards
Green Investments: Two Possible Interpretations of the "Do No Significant Harm" Principle
Towards a Socially Just Green Transition: The Role of Welfare States and Public Finances