new economy

　　

Previously, the European Commission (European Commission) issued its 2050 strategy, which shows a path to achieve a "climate-neutral" economy by 2050, that is, net zero emissions of greenhouse gases.

This ambitious goal was put forward before the latest UN Climate Change Conference in Katowice, Poland's coal mining town. There are still many question marks as to how realistic this goal is, the price it may have to achieve, and the impact it will have on global climate change-because Europe only accounts for 10% of the world’s total greenhouse gas emissions, and its proportion Still shrinking.

The analysis report accompanying this strategic statement provides bold answers. The report believes that it is possible and affordable to achieve climate neutrality in Europe by 2050. However, this requires a different set of economic thinking.

The strategy pointed out that the world is experiencing rising, record-breaking temperatures and extreme weather events, which have brought rising costs and threatened the livelihoods of everyone. So far, human activities have caused a global warming of about 1°C. If effective measures are not taken, extreme weather and climate events will seriously affect human health and safety, development, economic growth and biodiversity, and may have an impact on migration flows. , Stimulating a global spiral of social vulnerability and conflict. At the same time, global demographic changes, technological changes, digitalization and other major trends provide the EU with unprecedented opportunities. Economic transformation is an important part of sustainable development, and it can be effectively combined with things such as improving human health and air quality, improving energy security, achieving more efficient energy use, and economic and political stability. The economic transformation provides important opportunities for the EU to enhance its long-term competitiveness. With the acceleration of innovation and the declining cost of low-carbon technologies, it is more important to ensure that the EU maintains its leading position in the industry.

The long-term strategy believes that from a technological, economic and social point of view, it is feasible to achieve a climate-neutral economy by 2050, but it requires a profound social and economic transformation. To this end, joint actions are needed in seven strategic areas, including improving energy efficiency, developing renewable energy, developing clean, safe, and interconnected transportation, developing competitive industries and circular economy, and promoting infrastructure construction and interconnection and development. Bioeconomy and natural carbon sinks, the development of carbon capture and storage technologies to solve the problem of residual emissions, etc.

The governments of the European Union have spent ten years changing this statement, and have seen that low-carbon economy is both a field of innovative growth and a fiercely competitive field. Europe clearly realizes that if it does not accelerate its pace in the low-carbon technology and economic race, it may be left behind.

In order to maintain a leading position in the new economy, Europe must accelerate its pace. A study by the European Climate Foundation also showed that if Europe wants to meet the goals of the Paris climate agreement by 2050, it needs to increase its mid-term emission reduction ambitions, by 2030 in all key sectors-industry, Transportation, electricity, construction, agriculture, forestry and land use-reduce emissions.

However, the aforementioned report believes that the cost of this accelerated action will actually be lower than the "business as usual" scenario. This is because energy efficiency will increase, the use of fossil fuels will decrease, and energy demand management will be better.

Coordinated European actions can mobilize substantial investment, advance research, technology and innovation, create jobs, and have a major positive impact on health. These measures can bring tangible and politically popular short- and medium-term benefits, and at the same time make a significant contribution to alleviating the economic risks of rising global temperatures. However, merely advocating a low-carbon economy cannot enhance Europe's competitive position. The Lisbon strategy launched in 2000 has left a painful lesson for Europe. The strategy aims to make the EU "the most competitive and dynamic knowledge-based economy in the world." It failed.

Now, the EU is realizing the second chance. In order to seize the opportunity, European governments, universities and companies need to steadily invest in low-carbon technology research and commercialization.

China's leadership in many low-carbon fields has surprised many people. The worries caused by the purchase of key technologies and infrastructure by Chinese companies should prompt competitors (including those in Europe) to increase investment in green innovation.

China’s R&D expenditure is slightly higher than 2% of GDP, and its R&D investment intensity has surpassed that of the European Union. So far, China has invested heavily in green energy technology, which is regarded as maintaining its industrial leadership in the energy transition. The EU should enhance competitiveness through research and innovation, mobilize sustainable finance and investment, and develop breakthrough technologies. Test.

The European internal market will not be the only global driver of Brussels' low-carbon ambitions. The EU’s low-carbon strategy, if it can become a catalyst for corporate innovation and technology investment, will have an influence beyond the EU’s borders.

The European Union is the largest economic group in the world. The EU's strong climate action will force anyone who wants to enter the attractive European market to comply with its climate-related rules. This cascading effect will be felt all over the world.