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The Launch of European Green Deal by European Union: Impacts and Countermeasures (No. 98, 2020)


By Yu Min, Li Zuojun & Gao Shiji,Research Team on “Ecological Civilization Construction and Low-Carbon Development: Theoretical Explorations, Performance Analysis and Policy Options”, DRC

Research Report, No. 98, 2020 (Total 5842) 2020-5-8

Abstract: The European Green Deal (EGD) is a strategy launched by EU new President Ursula von der Leyen,aiming at innovation-oriented growth. It has proposed an ambitious goal of turning EU into the world’s first net-zero carbon emissions region by 2050 bolstered by clarified policies of promoting green investment, financing and fiscal framework and a defined approach on green diplomacy and trade policies. With the spreading of novel coronavirus epidemic in the world, the EGD will play a key role for the EU to restore its economy. The introduction and implementation of the EGD will not only affect the development of Europe, but also exert direct or indirect impacts on China’s participation in international trade, global climate negotiations and global green finance. Therefore, China needs to attach great importance to the key role of climate diplomacy with Europe relating to the improvement of international environment, positively cope with the impacts on China’s exports to Europe induced by non-tariff trade barriers such as border carbon adjustment taxes and reviews of sustainable chemical products and improve China-EU cooperation on green technology and digital economy to promote the establishment of a global sustainable financial system.

Keywords: European Green Deal, influences of green growth, countermeasures