Purpose: The purpose of the study is to evaluate the European Union’s "Fit for 55" plan, announced in 2021, which intends to meet a 2030 goal of reducing carbon emissions by 55 percent from 1990 levels. Design/methodology/approach: An analytical model is used to assess the impact of the EU...

This paper empirically studies how emission pricing affects capital replacement and adoption of embodied environmental technology. A pricing policy encourages firms to accelerate retirement of old capital assets and replace them with newer more efficient assets, but this may crowd out...

The fight against climate change is one of the significant challenges of the 21st century. The European Union's environmental policy has evolved as the perception of the problem has become more evident. This paper examines the environmental commitments made by the European Union on the global...