Research Detail
| 2024/09/11 / Erste Group Research |
EU Green Deal - a lot of work awaits Europe As part of the EU's Green Deal, annual greenhouse gas (GHG) emissions are to be reduced by 55% by 2030 compared to the baseline year of 1990. Europe should then become the world's first climate-neutral continent by 2050. This will require massive investment in the transformation of the energy sector in conjunction with efficiency measures and the electrification of the transport and building sectors. The Commission estimates that additional annual investment of EUR 477bn (equivalent to around 3.5% of GDP in 2022) would be required by 2030. From an economic perspective, there is a risk that investments for the transformation will temporarily crowd out alternative, productivity-enhancing investments. There are also upside risks for the inflation outlook. In view of the small-scale nature of the private sector and the high individual cost burden, we see the greatest risks of missing the climate targets in the area of traffic/transport and in the renovation of the residential building stock. |
 Download PDF (305kB)
|
General information
| Author | Erste Group Research |
| Date | 2024/09/11 |
| Language |  |
| Product name | Special Reports Macro, Fixed Income |
| Topic in focus | FX, Macro/ Fixed income |
| Economy in focus | Austria, Eurozone |
| Currency in focus | Euro |
| Sector in focus | - |
| Download |
