Economic impacts of the green transitionThe aim of the European Green Deal is to make Europe the first climate-neutral continent, by 2050, while maintaining economic growth and prosperity. It is Europe's growth strategy. The transition to a climate-neutral economy with net zero greenhouse gas emissions (GHG) over the course of just 28 years represents an industrial revolution at unprecedented speed, with significant impacts on gross domestic product (GDP), investment, employment, competitiveness, distribution, public finances and monetary stability. Outlining the expected impact of transition to a climate-neutral economy on economic indicators on the basis of analysis by academics and think-tanks and the Commission's impact assessment (IA) of the climate target plan, this briefing focuses in particular on economic output (GDP), public debt, competitiveness, labour markets, energy prices, inflation and distributional effects.
EP Briefing, 02-09-2022