Director of publications
The Nagoya Protocol on ABS: ratification by the EU and its Member States and implementation challenges
V. Koester. Studies N°03/2012.
The paper contains a survey of the background and the content of the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits from their Utilization in respect to which the EU Council has committed itself to a timely ratification and effective implementation. The paper also considers some questions of interpretation arising from the Protocol including particular references to a report of the EU Commission on the outcome of the final negotiations in October 2010 on the Protocol.
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Concretizing vagueness: new momentum for development through sustainable development goals?
S. Klapper, N. Kranz. Policy Briefs N°10/2012.
An article written within the framework of the Sustainable Rio project, and dedicated to the Sustainable Development Goals (SDGs) which were discussed during the Rio+20 conference (20-22 June 2012).
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Clarifying the Muddle Over the Green Race
T. Voituriez. Policy Briefs N°09/2012.
An article focusing on the green technology "race" (wind and photovoltaic power) and on its implications in terms of employment and international trade: what productivity gains can be expected from these technologies, and what is Europe’s position in this race? At the global level, how does the green economy fit into global governance?
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Building successful carbon pricing policies in China
X. Wang. Policy Briefs N°08/2012.
An article on climate policies in China, especially in terms of the energy mix and export restrictions on energy-intensive and polluting products. This article is based on the economics thesis defended by Xin Wang at the University of Lille 1 in November 2011: An economic and political assessment of carbon pricing in China.
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A "green" exit from the eurozone crisis
While the heads of State of 130 countries have discussed sustainable development at the Rio+20 conference, the European governments are still mulling a crisis exit strategy. Despite the weaknesses of the text discussed in Rio, the idea that it is necessary to include the environmental dimension in responses to economic crises is taking root. IDDRI is working to foster this position in Europe.
Despite the success of the EU plans for Spain’s bank bailout, the eurozone situation remains extremely precarious, marked by a downward spiral: activity is continuing to decline, and real wages are plummeting not only in the peripheral countries, but also in Germany; yet the volume and nature of European debts is still cause for concern.
In this context, a certain consensus has emerged to support growth at the European level. The positions of the different countries are well known: François Hollande and his government insist on the importance of stimulating growth through investment; Angela Merkel and her coalition stress the need to implement structural reforms.
However, the specific content of the structural reforms and of growth is worth discussing. The reforms will only bear fruit in the long term. However, there is an urgent need to act in order to consolidate financial stability, but also to support investment, which is showing worrying signs of shrinking. Knowing where and how to steer this investment from a long-term perspective implies re-examining the content of growth and its contribution to sustainable development.
To answer these questions, IDDRI is working with the German Institute for Economic Research (DIW) on the role and instruments ofenvironmental investments in the support plan for European growth.
The aim of this partnership is to develop the work already initiated by IDDRI (see the article on “Exiting the crisis in the right direction: A sustainable and shared prosperity plan for Europe”, Working Paper n°09/12, IDDRI), and it recalls that this investment improves the productivity of the European economy in the long term, while contributing in the short term to an upturn in growth and employment. Thus, between 2010 and 2050, the cost of additional investment to meet the challenge of the energy transition would reach around 260 billion euros. Over this period, these investment costs would be more than offset by the reduction in energy expenditure, in other words 315 billion euros of avoided spending. Per year, the incremental cost of investment would be around 2% of GDP. Investment in energy efficiency in buildings, renewable energy and the construction of transport and electricity networks can therefore have a significant impact on growth.
This research especially details the mechanisms that could be used to finance this investment, depending on the sector: subsidised EIB loans to commercial banks for energy efficiency in buildings; the issuance of project bonds and the use of structural funds for the construction of energy and transport infrastructure; State guarantees for bond issuance on the secondary market for renewable energy, etc.
These results have already largely contributed to the French-German talks on support for European growth and were very well received by the German press. The next European summit on 28 and 29 June will need to make it clear that without a strong energy and environmental component, there will be no lasting exit from the crisis for the eurozone.
P.S. Our analysis of the Rio+20 agreement will be presented in the next newsletter, in July.
- Exiting the crisis in the right direction: A sustainable and shared prosperity plan for Europe, T. Spencer, L. Chancel, E. Guérin, IDDRI,Working Papers N°09/12.
- Green investments in a European Growth Package, T. Spencer, K. Bernoth, L. Chancel, E. Guérin, K. Neuhoff, IDDRI, Working Papers N°11/12.
- "Greasing the Wheel: Oil's role in the Global Crisis", L. Chancel, T. Spencer. On op-ed on Vox EU website.
- "Greasing the Wheel: Oil's role in the Global Crisis", E. Guérin, L. Tubiana. An op-ed on Project Syndicate website.