List of Illustrations
Fig. 1.1 |
Public investment, % GDP |
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Fig. 1.2 |
Change in the ratio of public investment / GDP between 2025 and 2021 |
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Fig. 1.3 |
Key EU grant programmes to support investment, % of 2021 GDP |
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Fig. 1.4 |
Payouts from the Recovery and Resilience Fund |
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Fig. 1.5 |
Local and central government investment (2005=100) |
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Fig. 1.6 |
Multiplier of GDP in response to public investment at different level of Government |
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Fig. 1.7 |
Contract awards for public investment |
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Fig. 1.8 |
Contract award for digital public investment |
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Fig. 1.9 |
Cumulative value of contract awards for public investment linked to the RRF |
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Fig. 1.10 |
EU capital transfers, % GDP |
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Fig. 1.11 |
Fossil fuel import dependence in the EU, average 2016–2020 |
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Fig. 1.12 |
Share of fossil fuels in gross inland consumption (GIC) and concentration index (HHI) for the imports by type of fuel. |
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Fig. 1.13 |
Oil and gas storage in the EU |
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Fig. 1.14 |
Replacing natural gas imports from Russia by 2030, billion cubic metres. |
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Fig. 2.1 |
General government investment Constant prices, in billions of euros |
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Fig. 2.2 |
Evolution of General Government Net Wealth as a Percentage of GDP. |
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Fig. 2.3 |
Net General Government Investment by Component as a % of GDP. |
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Fig. 2.4 |
Comparison between trajectories of GDP and investment during the COVID-19 crisis and the subprime crisis |
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Fig. 2.5 |
Additional investment by scenario and by sector of activity (average annual amounts for each period) |
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The ThreeME model. |
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Fig. 2.7 |
Contribution of consumption, investment, and trade balance to additional GDP in both scenarios (model results). |
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Fig. 2.8 |
Additional jobs by scenario and sector (model results). |
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Fig. 3.1 |
Public Investment and Investment Grants (% of GDP) |
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Fig. 3.2 |
Tangible Investment of Local and State Governments in 2021 (Euro per inhabitant) |
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Fig. 4.1 |
Government gross fixed capital formation (GFCF): real values and trend at constant 2019 prices for Italy. |
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Fig. 4.2 |
Average time for project phases of public works in Italy (lots) by amounts 2012–2021 average. |
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Fig. 4.3 |
Resources for Construction and Civil Engineering. |
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Fig. 4.4 |
Capital expenditure for environmental services, REAL VALUE. |
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Fig. 4.5 |
Percentage of NRRP funding by mission |
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Fig. 4.6 |
Percentage of green investment by mission (left) and breakdown of green investment by mission (right) |
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Fig. 4.7 |
Estimate of resources for territorial authorities by NRRP Mission. |
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Fig. 5.1 |
Evolution of the energy mix in Spain in absolute terms (1965–2020, TWh). |
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Fig. 5.2 |
Evolution of the energy mix in Spain in relative terms (1965–2020, %). |
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Fig. 5.3 |
Energy mix in Spain (2020). |
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Fig. 5.4 |
RD&D investments in the energy sector in Spain. |
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Fig. 5.5 |
Spain. Natural gas sourcing by origin in 2021. |
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Fig. 7.1 |
Green spending in the national Recovery and Resilience Plans, counted using the European Commission’s flagship classification (% of total green spending). |
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Green spending by Bruegel’s own Level 2 classification (% of total green spending) |
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Fig. 7.3 |
Annual average capital investments worldwide to reach net-zero CO2 emissions by 2050 ($ billions, 2019 prices). |
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Fig. 7.4 |
Average yearly global investment needs in order to reach net-zero CO2 emissions from energy by 2050, different estimates ($ trillions). |
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Fig. 7.5 |
Average annual investment needs to reduce EU emissions by 55% by 2030, compared to baseline trend and historical data (€ billions, 2015 prices). |
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Fig. 8.1 |
Composition of public spending to support green investment in 2021–2030 in the EU. |
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Fig. 8.2 |
Solar and wind power—Annual change in installed capacity in the EU. |
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Fig. 8.3 |
Cumulative investment in power grids in 2022–2030 and historical. |
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Fig. 8.4 |
Cost of electric car subsidy programmes and annual sales of BEVs. |
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Fig. 8.5 |
The evolution of public transport use. |
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Fig. 9.1 |
Fuel price trajectories used for REPowerEU and Fit for 55 analysis. |
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Fig. 10.1 |
GFCF (left) and EFG (right) as a percentage of GDP (top) and per capita (bottom) in thousands of euros, 2001–2019. Source: elaboration by the authors from Eurostat COFOG data. |
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Fig. 10.2 |
GFCF (left) and EFG (right) as a percentage of public sector PCE and RPCE, 2001–2019. Source: elaboration by the authors from Eurostat COFOG data. |
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Fig. 10.3 |
Components of the EFG and RPCE, averages over the years 2001–2007, 2008–2013, and 2014–2019. |
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Fig. 10.4 |
PCE over GDP ratio and GFCF over GDP ratio for EU countries averages over the years 2010–2019. |
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Fig. 10.5 |
Change in EFG over GDP and change in RPCE over GDP between 2001–2009 and 2010–2019. |
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Fig. 10.6 |
CA in EU28 countries in the EFG, 2001–2019. |
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Fig. 10.7 |
AA in EU28 countries in the EFG, 2001–2019. |
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Fig. 10.8 |
AA per capita in EU28 countries in the EFG, 2001–2019. |
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Fig. 11.1 |
The flow chart of the certification process of green financial products. |
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Fig. 11.2 |
Proposed Approach for Assessing Climate Mitigation Additionality. |