Against the backdrop of the global recession precipitated by the COVID-19 pandemic, and in preparation of the upcoming EU-China Summit and the postponed UN Climate Change Conference (COP26), Agora Energiewende and the Energy Foundation China (EFC) co-hosted a high-level closed-door meeting to discuss green stimulus programmes from European and Chinese perspectives. The key results of this event are summarised in this policy paper, which emphasises the importance of low-carbon development and climate neutrality principles in guiding decision-making, as the effects of today’s stimulus measures will have long-lasting global impacts. Comparing the policy efforts of the EU and China, the paper identifies five common priorities: the transition from coal to clean energy, green financing, a fair and just transition to clean energy, decarbonizing “hard-to-abate” sectors, and interest driven EU-China collaboration on climate issues.
For all governments, the most immediate and pressing policy priority in 2020 is to determine an appropriate economic recovery package. In order to ensure Paris-compatible economic stimulus, common areas of direct action were identified.
