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Cost-effective reduction of fossil energy use in the European transport sector : an assessment of the Fit for 55 Package

Marten Ovaere (UGent) and Stef Proost
(2022) ENERGY POLICY. 168.
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Abstract
This paper surveys climate and energy policy in the EU transport sector covering the road, aviation, and shipping sectors. We summarise current policies, focusing on the Fit for 55 Package, and link the different instruments being used (e.g. cap-and-trade, tax, mandate, performance standard, or subsidy) to different sources of market failure. Next, we analyse the static and dynamic cost-efficiency of the policies and instruments. We find that they address a range of market inefficiencies, but that there are still a number of aspects that can further improve the cost-effectiveness of current EU climate policies in the transport sector. For example, higher taxes and emission performance standards for aviation and shipping, the right combination of research and innovation investments and learning-by-doing policies, and balancing implicit carbon prices by revising the road tax system and adding congestion tolls and charges. Finally, European policy has important side effects on the rest of the world that need to be taken into account in the selection of policies. This improved set of policies can support a sustainable recovery and reach the European Union's climate targets at the lowest cost.
Keywords
Management, Monitoring, Policy and Law, General Energy, European climate and energy policy, European transport policy, Road, transport, Aviation, Shipping, Fit for 55 Package, GENERAL-THEORY, POLICY, IMPACT, SUBSIDIES, TAXES

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Citation

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MLA
Ovaere, Marten, and Stef Proost. “Cost-Effective Reduction of Fossil Energy Use in the European Transport Sector : An Assessment of the Fit for 55 Package.” ENERGY POLICY, vol. 168, 2022, doi:10.1016/j.enpol.2022.113085.
APA
Ovaere, M., & Proost, S. (2022). Cost-effective reduction of fossil energy use in the European transport sector : an assessment of the Fit for 55 Package. ENERGY POLICY, 168. https://doi.org/10.1016/j.enpol.2022.113085
Chicago author-date
Ovaere, Marten, and Stef Proost. 2022. “Cost-Effective Reduction of Fossil Energy Use in the European Transport Sector : An Assessment of the Fit for 55 Package.” ENERGY POLICY 168. https://doi.org/10.1016/j.enpol.2022.113085.
Chicago author-date (all authors)
Ovaere, Marten, and Stef Proost. 2022. “Cost-Effective Reduction of Fossil Energy Use in the European Transport Sector : An Assessment of the Fit for 55 Package.” ENERGY POLICY 168. doi:10.1016/j.enpol.2022.113085.
Vancouver
1.
Ovaere M, Proost S. Cost-effective reduction of fossil energy use in the European transport sector : an assessment of the Fit for 55 Package. ENERGY POLICY. 2022;168.
IEEE
[1]
M. Ovaere and S. Proost, “Cost-effective reduction of fossil energy use in the European transport sector : an assessment of the Fit for 55 Package,” ENERGY POLICY, vol. 168, 2022.
@article{8772269,
  abstract     = {{This paper surveys climate and energy policy in the EU transport sector covering the road, aviation, and shipping sectors. We summarise current policies, focusing on the Fit for 55 Package, and link the different instruments being used (e.g. cap-and-trade, tax, mandate, performance standard, or subsidy) to different sources of market failure. Next, we analyse the static and dynamic cost-efficiency of the policies and instruments. We find that they address a range of market inefficiencies, but that there are still a number of aspects that can further improve the cost-effectiveness of current EU climate policies in the transport sector. For example, higher taxes and emission performance standards for aviation and shipping, the right combination of research and innovation investments and learning-by-doing policies, and balancing implicit carbon prices by revising the road tax system and adding congestion tolls and charges. Finally, European policy has important side effects on the rest of the world that need to be taken into account in the selection of policies. This improved set of policies can support a sustainable recovery and reach the European Union's climate targets at the lowest cost.}},
  articleno    = {{113085}},
  author       = {{Ovaere, Marten and Proost, Stef}},
  issn         = {{0301-4215}},
  journal      = {{ENERGY POLICY}},
  keywords     = {{Management, Monitoring, Policy and Law,General Energy,European climate and energy policy,European transport policy,Road,transport,Aviation,Shipping,Fit for 55 Package,GENERAL-THEORY,POLICY,IMPACT,SUBSIDIES,TAXES}},
  language     = {{eng}},
  pages        = {{11}},
  title        = {{Cost-effective reduction of fossil energy use in the European transport sector : an assessment of the Fit for 55 Package}},
  url          = {{http://doi.org/10.1016/j.enpol.2022.113085}},
  volume       = {{168}},
  year         = {{2022}},
}
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