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Macroeconomic implications of a burden sharing non-ETS GHG target in Bulgaria and Romania

Funding body: Global Climate Forum (GCF), BMU

Romania and Bulgaria are characterised by high energy and carbon intensities compared to the EU average. Bulgaria, for example, uses about four times as much energy per unit of GDP as the EU28 average, and has the lowest GDP per capita in the EU28. Before the financial crisis, it experienced 6% growth rates without accumulating public debt and with decreasing unemployment. The present study investigates options for these two countries to contribute to an EUwide reduction of greenhouse gas emissions by 40% in 2030 (compared to 1990). The objective is to combine computer simulations with individual assessments of specific policy measures.