Assessment of the Modern Climate Policy of the European Union

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.

1. Vernadsky V.I. Biosphere and noosphere. Moscow: Ayris-press; 2012.

2. Krasavina L.N., ed. International monetary, credit and financial relations: textbook. Moscow: Finance and Statistics; 2005.

3. Perskaya V.V., Eskindarov M.A. Polycentrism. Monograph. Moscow: KURS; 2022.

4. Glazyev S. Yu. The battle for leadership in the 21st century. Russia-USA-China. Seven options for the foreseeable future. Moscow: Book World; 2017.

5. Glinkina S.P., ed. The post-socialist world: the results of transformation: monograph. In three volumes. Vol. 1. Central and Eastern Europe. St. Pttersburg: Aleteya; 2017.

6. Rubtsov B.B., Ilyinsky A.I. et al. “Green finance” in the world and Russia. Monograph. Rubtsov B.B., ed. Moscow: Ruscience; 2016.

7. Marchenko M.N., Deryabina E.M. European union: present and future: a comparative theoretical legal study. Moscow: Prospekt; 2017.

8. Mazhorina M.V., Shakhnazarov B.A., ed. Law of sustainable development and ESG standards: textbook. Moscow: Prospekt; 2023.

9. Ilyinsky A.I., Magamedov A.S. Transformation of US global hegemony in the context of the rise of China. Scientific works of the Free Economic Society of Russia 2023;241(3):401–410. DOI: 10.38197/2072–2060–2023–241–3–401–410

10. Dupont C., Rosamond J., Zaki B. Investigating the scientific knowledge-policy interface in EU climate policy. Policy & Politics. 2023;52(10):1–20. DOI: 10.1332/030557321X16861511996074

11. Bhagwati J. The generalized theory of distortions and welfare (chapter 12) / Trade, balance of payments and growth: Papers in international economics in honor of Charles P. Kindleberger. Amsterdam: North-Holland Publishing Company; 1971.

12. Bhagwati J., Ramaswami V., Srinivasan T. Domestic distortions, tariffs, and the theory of optimum subsidy. Journal of Political Economy 1969;77:1005–1010.

13. Boehringer C. et al. The role of border carbon adjustment in unilateral climate policy: overview of an energy modeling forum study (EMF 29). Energy Economics 2012;34:97–110. DOI: 10.1016/j.eneco.2012.10.003

14. Steininger K. et al. Justice and cost effectiveness of consumption-based versus production-based approaches in the case of unilateral climate policies. Global Environmental Change 2014;24(1):75–87. http://dx.doi.org/10.1016/j.gloenvcha.2013.10.005

15. Wang H. et al. Key global climate governance problems and Chinese countermeasures. Chinese Journal of Population, Resources and Environment 2021;19(2):125–132. https://doi.org/10.1016/j.cjpre.2021.12.014

16. Porfiryev B.N., Shirov A.A. et al. Opportunities and risks of climate regulation policy in Russia. Questions of Economics 2022;(1):77–89. https://doi.org/10.32609/0042–8736–2022–1–72–89

17. Roginko S.A. “Green” agenda of J. Biden: slogans and realities. Social sciences and modernity. 2023;(2):56–71. DOI: 10.31857/S0869049923020041

18. Roginko S.A., Silvestrov S.N. Climate agenda in turbulent Europe. Russian economic journal 2023;(1):80–96. DOI: 10.52210/0130–9757_2023_1_80

19. Roginko S.A. French tax for the EU: the genesis of carbon border adjustment. Modern Europe 2022;112(5):64–77. DOI: 10.31857/S0201708322050059

20. Roginko S.A. Carbon border adjustment mechanism: risks for the Russian fuel and energy complex. Energy Policy 2021;164(10):38–46. DOI: 10.46920/2409–5516_2021_10164_38

21. Roginko S.A., Silvestrov S.N. Implementation of the Paris Climate Agreement: european carbon blackmail of Russia and opportunities to counter it. Russian economic journal 2021;(4):77–93. DOI: 10.33983/0130–9757–2021–4–77–93

22. Bazhan A.I., Roginko S.A. EU border adjustment mechanism: status, risks and possible response. Analytical notes of the Institute of Europe of the RAS. 2020;227(44):1–13. URL: http://doi.org/10.15211/analytics442020

23. Roginko S.A., Alekseev P.V. Concept of “carbon leakage” as a basis for the carbon border adjustment mechanism of the European union. Modern Europe. 2022;114(7):92–106. DOI: 10.31857/S0201708322070087

24. Alekseev P.V. Assessment of the scientific validity of introducing the carbon border adjustment mechanism of the European union. Banking services. 2023;(10):2–8. DOI: 10.36992/2075–1915_2023_10_2

25. Varnavsky V.G. Сarbon border adjustment mechanism of the European union: a new instrument of global governance. World Economy and International Relations. 2023;67(1):5–15. DOI: 10.20542/0131–2227–2023–67–1–5–15