The task of realising the goals of the Paris Agreement and the EU Green Deal looks very different today compared to not more than a couple of years ago. The political environment is rapidly changing and the EUI Climate Week aims to deepen the understanding of this new reality through an exchange of views between high-level policy makers from the public and private sector as well as from civil society and academia.

Some major geopolitical shifts are becoming clearer. First there is the brutal reality of two ongoing wars on Europe’s doorstep, namely in Ukraine and the Middle East. These conflicts have a major impact on markets for energy and raw materials. Second, there are major changes in US policy. While things are still unfolding it is becoming clear that we may experience the end of the multilateral regime that emerged after World War 2. For the third time since 1990, the US has withdrawn from the multilateral climate regime. Third is the rising position of China which has become the world’s biggest polluter but has also become a leader in clean technology. The dominant position of China in many industries leads to questions related to governmental interference and to maintaining the free trade tradition of the last decades.

The wide political consensus on climate policy is weakening and instead one can observe an increasing polarization globally. As progress in emissions reductions advances, the low hanging fruit has been reaped, and compliance costs are increasing. This leads to a call for a fair distribution of the short-term costs that climate policy entails. On the other hand, there are convincing signs that business has started the low-carbon transition. Globally for example, twice as many investments went to clean energy compared to fossil fuels. Yet hesitations remain. Questions emerge related to the regulatory complexities of many policies, and generally there is a call for more flexibility in delivering the climate goals. Stable and simple market conditions are required to make a solid business case for those wanting to invest in the low-carbon transition, thereby strengthening their overall competitive strength.

Events

Tuesday 6 May

Wednesday 7 May

Thursday 8 May