elisabettaco.bsky.social
Economist. Senior research fellow at the Centre for European Reform, Brussels. Working on EU climate & energy policy. Previously OECD, IEA, Université Libre de Bruxelles.
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We do need more ironic twists these days.
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Ultimately, a common EU-level fund for strategic investments is needed to avoid subsidy races between member-states.
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Steering European demand to EU clean tech production is essential. Europe should not let China’s subsidised competition exploit incentives given to European consumers: the Commission’s recent Competitiveness Compass rightly proposes that public procurement should follow a buy-European approach.
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The EU should shape its new sector-specific clean tech industrial policies by making them
> selective
> firm-neutral
This means focussing on sectors whose competitiveness can be realistically defended or restored, based on strategic value, cost and production structure, patenting...
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> EU programmes are largely geared twds early stages of tech development – like R&D – or final deployment and user uptake. Support for manufacturing is lacking.
> Magnitude of EU funds is very far from the estimated investments required to meet net-zero emissions targets.
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The EU’s existing policies are not fit for today’s challenges:
> EU funding programmes are largely horizontal or generic in nature...
> ... whereas we need policies that steer demand into specific sectors where the EU can gain or retain a competitive position.
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The EU needs to shape and fund a common green industrial policy to ensure its promising clean tech industry survives.
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But several challenges threaten EU clean tech:
> High energy prices impact both basic goods industries & downstream manufacturers.
> China's overcapacity & booming clean tech exports + squeezed imports.
> The Trump administration’s tariffs, rollback of the IRA and halt on wind park construction
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The EU was an early mover in climate action, relying on regulation and carbon pricing to prompt decarbonisation investments. As a result, the bloc leads in all kinds of machinery for clean electrification and had been expanding its presence in global exports of hybrid and electric vehicles.
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merci Anna :)
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Hola Natalia, this sounds extremely interesting and as ECARES PhD alumna I would have loved to join :) but overlapping meetings get in the way... is there any chance you will be sharing slides afterwards? thanks and feliz año nuevo!
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I KNEW IT!!
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gotta love the title 🐮🌿
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Congrats Martin! here's to more decades of Free Lunches :)
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Agreed, and we try and explain this. CBAM changes the nature of competitive advantage by including CBAM fees based on carbon intensity in the equation. Carbon efficient producers will be relatively more competitive than carbon intensive ones.