Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood

EUCP

Wednesday, March 6, 2024, 14:00-15:30 Vienna time (CET)

Presenter
Serhan Cevik, Senior Economist, International Monetary Fund

Yueshu Zhao, Research Analyst, International Monetary Fund

Moderator
Patrick Imam, Deputy Director, Joint Vienna Institute

In the forthcoming webinar, Mr. Cevik will present the IMF working paper, focusing on Climate Change Mitigation and Policy Spillovers in the EU’s Immediate Neighborhood (authors: Serhan Cevik, Nadeem Ilahi, Krzysztof Krogulski, Grace Li, Sabiha Mohona, and Yueshu Zhao). 
EU’s neighborhood countries (EUN) have lagged the EU on emissions mitigation; coal-heavy power generation and industrial sectors are a key factor. They have also trailed EU countries in emissions mitigation policies since 2000, with little use of market-based instruments, and they still have substantial fossil fuel subsidies. Increasingly stringent EU mitigation policies are associated with lower emissions in EUN. Overall, output effects of the CBAM, in its current form, would be limited, though exports and emissions-intensive industries could be heavily impacted.

This webinar will present a unilaterally adopted economywide carbon tax of $75 per ton that would significantly lower emissions by 2030, with minimal consequences for output or household welfare, though a safety net for the affected workers may be necessary. To become competitive today by attracting green FDI and technology, overcoming infrastructure constraints and integrating into EU’s supply chains, EUN countries would be well served to front load decarbonization, rather than postpone it for later.

To participate in the webinar please sign up here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

Back to course overview

Course Details

Start: 20240306Mar 06
End: 20240306Mar 06

Language: English

Sponsoring Organization: IMF

Admin Arrangements


Application Deadline: March 05, 2024