On Thursday 27 June, the Bruegel think-tank published a policy brief demonstrating the need for the European Union to strengthen its green diplomacy strategy. And with good reason: the ‘European Green Deal’, which aims for carbon neutrality by 2050 and has already initiated a major legislative transformation within the EU, has increasingly visible international implications.
European demand for oil and gas is set to fall from 800 million tonnes in 2022 to 330 million tonnes in 2050.
At the same time, the green transition will require increased demand for clean technologies, raising demand for critical raw materials such as lithium and nickel, which could increase elevenfold by 2050.
The European Union, which accounts for 17% of world GDP and 15% of world trade in goods, should improve the effectiveness of its global sustainable development strategy in order to remain at the forefront of these issues, while maintaining its competitiveness.
Furthermore, in the run-up to COP30 in 2025, when all countries will have to update their national contributions to reduce emissions, the EU must also encourage and help other countries transform their commitments into concrete, achievable actions.
The authors of the brief, Giovanni Sgaravatti, Simone Tagliapietra and Cecilia Trasi, recommend proactive diplomacy, moving from defining objectives to implementing them, with regard to carbon pricing, creating partnerships for green industrialisation and establishing new international agreements on trade and climate.
Read the publication: https://aeur.eu/f/cv4 (Original version in French by Nithya Paquiry)