Poland ranked 18th in the EU in terms of the development of green economy in 2011-2019

by   CIJ News iDesk III
2022-05-18   10:48
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Poland ranks 18th out of 27 EU countries in the ranking of the green economy development indicator in 2011-2019, according to the analyzes of the Polish Economic Institute (PIE). According to PIE calculations, the green transformation may accelerate economic growth by as much as 1.1 percentage points, annually.

Poland took 18th place among the 27 EU countries in the ranking of the green economy development index in 2011-2019. According to the PIE analyzes, the development of green economy is positively correlated with economic growth. A comparison of the average total GDP growth in 2011-2019 countries the leaders of the green economy indicator (25.7%) and the countries that develop the green economy the slowest (15.4%) point to the benefits of developing green technologies and infrastructure, which translate into a noticeable difference in the rate of economic growth (10.3 pp. ), according to the PIE report "Green economy - the impact of green economy on the climate and economic development".

PIE emphasizes that although the economic growth of individual countries is the result of many factors, the obtained results of the model make it possible to question the existence of the necessity to choose between raising the standard of living and a sustainable development model. As the report shows, investing in the green economy does not slow down economic growth, while allowing the achievement of climate goals.

"The main objective of our study was to estimate the impact of green economy development on GDP and CO2 emissions. To measure this impact, we used a number of indicators based on international classifications and data from Eurostat, the International Monetary Fund and OECD. In total, the green economy development indicator was composed of 20 factors belonging to The results of our modeling of changes in the green economy development index we have shown, explain the changes in the GDP of EU countries in only 5%, but changes in the level of emissions already explain in 43%. GDP, and at the same time significantly affect the level of emissions," said an analyst from the climate and energy team at PIE Adam Juszczak.

According to the model prepared by PIE, the impact of the growth of the green economy development index on the GDP per capita growth in the EU countries in 2011-2019 was 0.22, which means that the development of green economy has a slight but positive impact on economic development. On the other hand, in the case of the impact of the green economy development index on the level of CO2 emissions of the EU-27, the factor was -0.66, which means that the development of green economy significantly contributes to the decrease in the level of emissions in the EU.

A comparison of the average total GDP growth in 2011-2019 of the countries that are leaders in the green economy development index (25.7%) and the countries that develop the green economy the slowest (15.4%) shows the benefits of developing green technologies and infrastructure, translating into a noticeable difference at the rate of economic growth (10.3%), was also given in the material.

Source: PIE and ISBnews