ECB – Fiscal policies to mitigate climate change in the euro area

Mitigating climate change is a matter of urgency, which requires sustained and comprehensive policy efforts, including implementing fiscal measures. Under the European Green Deal, Member States committed to reducing EU greenhouse gas emissions by 55% – compared with 1990 levels – by 2030 and to reaching carbon neutrality by 2050, in line with the Paris Agreement. Delivering on these commitments will require additional sustained and frontloaded policy efforts in many areas.

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