Assessment of the Modern Climate Policy of the European Union

• Published in: Review of Business and Economics Studies Vol. 12; no. 1; pp. 16 - 24
• Main Author: Alekseev, P. V.
• Format: Journal Article
• Language: English
• Published: Financial University 26.06.2024
• Subjects: carbon border adjustment mechanism; climate; climate policy; eu emissions trading system; european green deal; global problems; global warming; greenhouse gases; international cooperation
• ISSN: 2308-944X; 2311-0279
• DOI: 10.26794/2308-944X-2024-12-1-16-24

One of the most important problems of the world community in the 21st century is global warming. To solve this problem, the Paris Climate Agreement was adopted in 2015. As part of the implementation of the Paris Agreement, on December 11, 2019, the European Union (EU) adopted the European Green Deal (EGD), which provides for achieving net zero greenhouse gas emissions by 2050. On July 14, 2021, the EU adopted the climate program Fit for 55, aimed at implementing the EGD. On March 8, 2022, the EU adopted an ambitious strategy to stop importing fossil fuels from Russia and transit to renewable energy sources (REPowerEU). This article aims to assess the modern EU climate policy. The object of the study is the modern climate policy of the EU. The subject of the study is the impact of EU climate policy on the EU’s long-term competitive position in the global economy. The research methodology includes systemic, economic, institutional and logical analysis, induction, deduction and synthesis. Based on the analysis, the author concludes that the modern climate policy of the EU is a logical continuation of the implementation of the Marshall Plan to establish US domination over European countries with the aim of deindustrializing them. As a result of the implementation of this counterproductive policy, which is contrary to the national interests of the member states, the EU is experiencing stagflation, quickly losing its competitive position in the global economy. In this new reality, the EU faces the challenge of reviewing and adjusting climate policy in the region.