Over the past few weeks, governments have announced cuts of billions of euros that will affect millions of Europeans. But stepping up the EU's climate ambition could be a green way out of Europe's economic blues.
Green NGOs argue that with stronger climate targets, European governments could create hundreds of thousands of new green jobs, as supported by a recent European Commission report. Instead of wasting cash on foreign oil and gas, EU countries could save up to 40 billion by boosting renewables. Savings in pollution control and health costs would be worth between 6.5 billion and 11.5 billion.
But going back on the 2035 zero-emissions target and deploying no industrial strategy could instead see loss of 1 million auto jobs.
A new study models the impact of EU electric vehicle leadership and ambitious policies on investment and jobs.
T&E’s William Todts looks at whether a climate deal that potentially doubles the global biofuels market can be considered a good deal?