Low carbon development strategy aims to boost Serbia’s competitiveness
Serbia presented its proposition for the strategy of low carbon development with an action plan as well as the draft report on the strategic assessment of the proposition’s impact on the environment. Public consultations last almost until the end of the month. The current platform reveals pursuing the most ambitious targets would cost EUR 110 billion from now until 2050.
The vision is to make the country climate neutral and climate resistant in the long term, said Jasmina Jović (pictured first right). According to the assistant minister of environmental protection, authors of the low carbon development strategy’s presented version intended to determine a socially fair and cost-effective path.
In her words, some of the main aims are to make the national economy more competitive and to raise awareness about the benefits of decreasing harmful gas emissions. The draft can be downloaded here.
Market, consumers to lead to system change
Matej Gasperič, first left, who participated in the project backed by the European Union, said the idea is to open up the market and that the planned introduction of a carbon dioxide tax on fossil fuels would make cleaner solutions more affordable and prop them up. He underscored it took his home country Slovenia 15 years for the green fund to be established.
The outline of the low carbon development strategy includes tax and excise duties on fossil fuels
The 28-member bloc’s social funds are available to help the transition like in the case of layoffs amid the phaseout of mines, the technical assistance expert asserted. He stressed consumers are the force that brings the change.
Emissions can be cut by as much as 69.1%
The most ambitious mitigation plan out of four is seen leading to the drop in greenhouse gas emissions of 26.4% between 2010 and 2030 and a whopping 69.1% in total on the horizon. The first step, only the introduction of the emissions trading system or ETS, translates to 6.3% and 40.7%.
The so-called M2, which is recommended until 2030 and includes joining the European Union, cuts the measure by 13.2% in the first 20 years and 55% in the entire four decades by 2050. Systematic costs if no action whatsoever are taken came in at EUR 113 billion, just a little more than the said M4 expenses, compared to EUR 60 billion for M2.
There is chance to reverse job loss
The effects on economic growth and employment are negative and progressive in mitigation scenarios, but “very limited,” according to the published estimates. The proposition suggests the net job loss of a maximum of 2.5% by 2050 could be compensated by expansion in renewable energy, energy efficiency, construction and forestry.
The outline leaves room for the adoption of stricter targets if the implementation of M2 goes smoothly, the government’s representatives pointed out.
Measures have potential to halve PM2.5 particle air pollution
The calculations showed a jump in emissions of PM2.5 air pollution particles of 8.8% by 2020 in the M2 scenario, while the net increase is lowered to just 0.5% in 2025 and the gauge lands at negative 7% in 2030 and 28.7% in 2050. At the end of the period, the tally for M3 is minus 49.1% and M4 finishes at 39.7% below the starting position.
Additional investment costs by 2030 are seen at EUR 6.34 billion according to M2, mostly in the energy sector, and between EUR 37.1 billion and EUR 74.22 billion in the 20 years after that. The state’s share is 4% and 7%, respectively, consumers cover almost two thirds and investors account for the remainder.
Consumers account for nearly two thirds of additional investment costs
Marina Nenković-Riznić (second from right) from the Institute of Architecture and Urban and Spatial Planning of Serbia, which was responsible for the production for the strategic assessment, said both the mitigation and adaptation scenarios were included and cited 76 indicators for progress monitoring.
The researchers concluded the draft strategy mostly has positive effects on the local and regional levels.