World Bank: Switch to low emission energy to cut Poland's GDP by 1pp annually.

By bne IntelliNews February 25, 2011
The costs of the Polish economy's switch to low-emissions energy supply will peak in 2020; but by 2030, the shift towards low emissions will augment growth, the World Bank has said in a report. Overall, this abatement will lower GDP by an average one percent through 2030 from where it otherwise would have been, it noted. The economic cost in output and employment of Polands required abatement by 2020 under EU rules is higher than for the average EU country; and the restrictions on emissions trading between sectors aggravate that cost, the WB also said. It noted that the energy sector currently generated near half of Polands emissions, but the transport sector - with precipitous growth and the need for behavioral change in addition to the adoption of new technologies - might end up posing the tougher policy challenge. tom
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