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COVID-19, Global Climate Policy and Carbon Markets

Dates:
  • Thu 07 May 2020 11.30 - 12.30
  Add to Calendar 2020-05-07 11:30 2020-05-07 12:30 Europe/Paris COVID-19, Global Climate Policy and Carbon Markets

The COVID-19 pandemic is having a dramatic impact on economic activities worldwide. This has both direct and indirect effects on greenhouse gas emissions and global warming. On the one hand, the fall in production and traffic volumes drastically reduces emissions, as it has already been observed after a few weeks of lockdown in a growing number of countries. On the other hand, the deep economic recession which might affect the world economy in the next years is likely to slow down the technological progress that is needed to progress along a low-carbon economic path. Moreover, the economic depression obviously has a large impact also on carbon markets: the fall in production brings about a sharp decrease in the demand of emission allowances, which causes a reduction in the allowance prices and thus also -ceteris paribus- in the incentive to invest in clean technologies.

For these reasons, it appears particularly important to identify in advance a suitable economic-climate package which may relaunch clean investments when economic activities will resume and avoid that the economic downturn may be followed by a sharp growth in emissions when the pandemic will be gone.

FSR Climate, in collaboration with the Policy Outreach Committee of EAERE (European Association of Environmental and Resource Economists), organises this online event to promote a more integrated dialogue between academia and policy world, providing advice and support to EU policy makers and institutions in designing policy interventions, which is particularly needed and urgent in these difficult times.

Outside EUI premises - DD/MM/YYYY
  Outside EUI premises -

The COVID-19 pandemic is having a dramatic impact on economic activities worldwide. This has both direct and indirect effects on greenhouse gas emissions and global warming. On the one hand, the fall in production and traffic volumes drastically reduces emissions, as it has already been observed after a few weeks of lockdown in a growing number of countries. On the other hand, the deep economic recession which might affect the world economy in the next years is likely to slow down the technological progress that is needed to progress along a low-carbon economic path. Moreover, the economic depression obviously has a large impact also on carbon markets: the fall in production brings about a sharp decrease in the demand of emission allowances, which causes a reduction in the allowance prices and thus also -ceteris paribus- in the incentive to invest in clean technologies.

For these reasons, it appears particularly important to identify in advance a suitable economic-climate package which may relaunch clean investments when economic activities will resume and avoid that the economic downturn may be followed by a sharp growth in emissions when the pandemic will be gone.

FSR Climate, in collaboration with the Policy Outreach Committee of EAERE (European Association of Environmental and Resource Economists), organises this online event to promote a more integrated dialogue between academia and policy world, providing advice and support to EU policy makers and institutions in designing policy interventions, which is particularly needed and urgent in these difficult times.


Location:
Outside EUI premises -

Affiliation:
Robert Schuman Centre for Advanced Studies

Type:
Online Debate

Links:
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