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International Monetary Fund. European Dept.

) Sources; CITEPA 2. Through national legislation, France enshrined ambitious objectives for reducing GHG emissions to reach carbon neutrality by 2050 . France is signatory to various multinational climate agreements (e.g. Paris agreement 2015, UN Sustainable development goals on affordable and clean energy, Europe 2020 and 2030 strategy). The latest agreement, the EU Green Deal pledges to reduce EU greenhouse gases even faster (55% below 1990 levels by 2030). Through national laws 2 France committed to GHG emission targets equal or in excess to its international

Mr. Nicolas Arregui, Ms. Ruo Chen, Mr. Christian H Ebeke, Jan-Martin Frie, Mr. Daniel Garcia-Macia, Ms. Dora M Iakova, Andreas Jobst, Louise Rabier, Mr. James Roaf, Ms. Anna Shabunina, and Mr. Sebastian Weber

/Toronto . Wyns , Tomas , and Matilda Axelson . 2016 . “ Decarbonising Europe’s Energy Intensive Industries: The Final Frontier .” Institute for European Studies , Vrije Universiteit Brussel , Brussels . Wyns , Tomas , Gauri Khandekar , and Isobel Robson . 2018 . “ A Bridge Towards a Carbon Neutral Europe—Europe’s Energy Intensive Industries Contribution to the EU Strategy for Long-Term EU Greenhouse Gas Emissions Reductions .” Institute for European Studies , Vrije Universiteit Brussel , Brussels . Yang , Zifei , Peter Slowik , Nic

Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender

, Philippe Loudjani , Francesco Tubiello , David Grandgirard , Suvi Monni , Katarzyna Biala , 2010 . Evaluation of the livestock sector’s contribution to the EU greenhouse gas emissions (GGELS) – final report . European Commission, Joint Research Centre . Lutz , Steven , and Angela , Martin , 2014 . “ Fish Carbon: Exploring Marine Vertebrate Carbon Services ,” Blue Climate Solutions report . ( Washington, DC : The Ocean Foundation ). McKinsey , 2018 . Charging ahead: Electric-vehicle infrastructure demand . Available at: www

International Monetary Fund. European Dept.

greenhouse gas (GHG) emission reduction target . It is expected to meet the EU GHG reduction target of 50 percent by 2030. It also tops the Climate Change Performance Index which “evaluates and compares the climate protection performance of 57 countries and the EU” across four categories: GHG Emission, Renewable Energy, Energy Use, and Climate Policy. Sweden ranks high across all categories except energy use, as energy-intensity remains high. However, additional efforts are necessary to achieve Sweden’s own ambitious objectives . According the Swedish Climate Policy

International Monetary Fund. European Dept.
Sweden entered the pandemic with substantial buffers and suffered a relatively shallow recession in 2020. The decline in output was moderated by substantial income and liquidity support as well as structural features of the economy. Sweden’s initial less stringent containment strategy seems to have altered the timing of the economic fallout, which intensified towards the middle of the year. This fallout has particularly impacted the youth and foreign-born. Economic recovery is projected over the next two years, but uncertainty has increased due to the new strains of the virus and slow vaccination.
Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender
Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The strategy Denmark develops can be a good prototype for others to follow. This paper discusses mechanisms to scale up domestic carbon pricing, compensate households, and possibly combine pricing with a border carbon adjustment. It also recommends the use of revenue-neutral feebate schemes to strengthen mitigation incentives, particularly for transportation and agriculture, fisheries and forestry, though these schemes could also be applied more widely.
Mr. Nicolas Arregui, Ms. Ruo Chen, Mr. Christian H Ebeke, Jan-Martin Frie, Mr. Daniel Garcia-Macia, Ms. Dora M Iakova, Andreas Jobst, Louise Rabier, Mr. James Roaf, Ms. Anna Shabunina, and Mr. Sebastian Weber
This paper discusses sectoral policies needed to achieve the ambitious greenhouse gas (GHG) emissions reduction targets announced in the European Union’s Green Deal, complementing the companion paper “EU Climate Mitigation Policy”, which focuses on broader EU-level policies. With total emissions nearly a quarter below their 1990 level, the EU has made important progress, but the new goals will require much stronger policy action. Moreover, progress has varied across sectors. Emissions from power and industry have fallen by about a third, buildings by a quarter and agriculture by a fifth – while transport emissions have risen. This paper argues that this divergence reflects differences in effective carbon prices, but also cost differences among the available abatement channels, market imperfections, and policy gaps. It discusses specific sectoral policies needed to address these factors and achieve the new emissions reduction goals.