This book comprehensively examines the financial and economic aspects of the ‘sustainability transitions’ demanded by the primary components of the European Green Deal.
It asks how the EU has been dealing with the allocation of resources to foster the sustainability transition, how the additional transformations required by the ‘climate emergency’ will be financed, and which actors (businesses, governments, citizens) will pay and how. Looking at how the EU has been managing this over time, through changes in the Environment Action Programmes, Structural Funds, the Multiannual Financial Framework, the book examines policy priorities and analyses the different instruments proposed as part of this evolving environment, including market support instruments for renewable energies and the creation of new instruments, such as Climate Awareness Bonds. It also highlights new developments, such as the debate on the role of environmental taxes, or the uneven development across member states of green financial instruments. The book presents an evolving puzzle into the limited possibilities of the EU to deploy resources that contribute to the overarching goal of achieving a low carbon economy and illustrates the need for acceptance towards changes and compromises that are required from all affected stakeholders.
This book will be of key interest to scholars, students and practitioners of sustainable development, climate governance, and EU politics, and more broadly to European Studies, economics, politics, international relations or public policy.