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The European Union has set an ambitious target to reduce net greenhouse gas emissions to zero by 2050, while at the same time ensuring economic and social sustainability. The European Green Deal lays out a path towards realising this target, accelerating policy change that touches upon many aspects of the economy and society. What are the main challenges to the implementation of the European Green Deal? What are the costs and benefits of decarbonisation? Which industrial policy is needed to turn decarbonisation into an economic opportunity for Europe? How to finance the transition to a low-carbon economy? Which trade policy instruments could create incentives for more climate protection? This Forum seeks to answer these questions, discussing the key issues and reviewing the different policy perspectives on climate change mitigation in the European Union.

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© The Author(s) 2021

Open Access: This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (https://creativecommons.org/licenses/by/4.0/).

Open Access funding provided by ZBW – Leibniz Information Centre for Economics.

DOI: 10.1007/s10272-021-1005-6