NRRP – Italy’s Strategic Reform and Investment Programme: Sustaining an Ecological Transition

A cura di Giovanni Barbieri, Floriana Cerniglia, Giuseppe Francesco Gori, Patrizia Lattarulo

Capitolo a cura di Giovanni Barbieri, Floriana Cerniglia, Giuseppe Francesco Gori, Patrizia Lattarulo

E’ uscito oggi il volume curato da Floriana Cerniglia e Francesco Saraceno

Greening Europe

2022 European Public Investment Outlook

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The third installment of the ‘European Public Investment Outlook’ series is an important and timely publication that draws together recent analyses to recommend significant increases in public investment in green ventures. Compelling data from key economists affiliated with international organizations like the International Monetary Fund, European Investment Bank and the European Commission, as well as academic departments and policy institutes are a clarion call for green investment to boost the economy and put the planet on a sustainable path.

Like its predecessors, the book presents the issues in a lucid and navigable manner. Part I explores the EU’s current levels of green public investment, as well as the challenges ahead in achieving net zero carbon emissions after years of decreasing funding and the obstacles presented by the COVID-19 pandemic and the Russian invasion of Ukraine. The public investment trends of France, Germany, Italy and Spain are systematically evaluated, as well as the REPowerEU policy – accelerated in Spring 2022 – to move away from Russia’s supply of fossil fuels. Part II focuses on the investment needed for green transition; the important economic and fiscal effects and benefits this would bring; and the reality of what is required before 2030 to achieve the EU’s carbon-neutral targets by 2050.

Greening Europe is essential reading for economists, environmentalists, and policymakers. It should also be of interest to anyone who wants to understand the cost implications of the ‘carbon-neutral’ policies that governments have promised, and the urgent need to change our approach towards energy usage.

DOI: https://doi.org/10.11647/OBP.0328

ISBN: 978-1-80064-907-1

Segnaliamo il capitolo 4:

NRRP – Italy’s Strategic Reform and Investment Programme: Sustaining an Ecological Transition

A cura di Giovanni Barbieri, Floriana Cerniglia, Giuseppe Francesco Gori e Patrizia Lattarulo

In Chapter 4 (pages 55-70), G. Barbieri, F. Cerniglia, G. F. Gori, and P. Lattarulo provide a general overview of the Italian National Recovery and Resilience Plan (NRRP) with a focus on the investment needs to ensure an ecological transition. The NRRP contains six missions, of which Mission 2 is specifically dedicated to the ecological transition (approximately 59.5 billion euros); however further resources for the transition are also available in other Missions under climate objectives. In total, the available resources are around 71.7 billion euros. This means that out of the total funding allocated to the NRRP (191 billion euros), 37.5% is dedicated to green investment, which is slightly above the minimum threshold set by the EU. In absolute terms, because of the size of the Italian NRRP, this is by far the most significant investment out of all the EU countries. The NRRP is a huge gamble for the future of Italy due to the sheer number of resources involved, the deep structural lags that must be overcome, and the major political consensus needed on the overall objectives and/or missions.