Energy transition, efficiency and decarbonization in Europe. REPowerEU

Summary

This presentation describes the state of the global decarbonization process, summarizes the impact of GHG emission reduction policies and focuses on Europe and the effect of the complex geopolitical scenario.

Key points

• Key points:
• After the Covid-19 crisis, GHG emissions recovered following economic activity and climate mitigation policies improved, but are still insufficient to achieve the goal of a “net-zero” economy.
• Above certain thresholds, economic development and the digitalization of economies favor the reduction of CO2 intensity, although they are not the only relevant factors.
• Climate change mitigation policies must decouple the improvement in welfare and the increase in GHG emissions by combining different instruments aimed at correcting the negative externality they generate.
• In Europe, measures to alleviate the impact of the Covid crisis and to eliminate dependence on energy from Russia should be opportunities to accelerate the transition to a “net-zero” economy.

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