Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/278426 
Year of Publication: 
2023
Series/Report no.: 
ECB Occasional Paper No. 315
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
Fiscal policy plays a prominent role in climate change mitigation and adaptation. An optimal combination of revenue policies, in particular taxes, and expenditure policies, such as subsidies and investment, is essential in order to achieve greenhouse gas emissions targets. This paper analyses the main fiscal instruments in place in European Union Member States, focusing on specific issues, such as the fiscal impact of extreme weather events, the interaction between debt sustainability and climate change, the green investment gap and the distributional impact of climate policies. The paper aims to provide an overview of existing fiscal policies and of the main fiscal challenges for a comprehensive European climate change strategy.
Subjects: 
climate change
carbon tax
debt sustainability
green investment,extreme weather events
redistribution
JEL: 
H2
H5
H6
Q54
Q58
D63
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-6059-5
Document Type: 
Research Report

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