Austria's Successful Green Budgeting and Emission Reduction Efforts

PeopleOther ♦ Published: July 30, 2023; 12:02 ♦ (Vindobona)

The Climate Team, newly established in the Austrian Ministry of Finance, has presented essential results and analyses in recent months to bring Austria closer to the goal of a cost-effective and socially acceptable transformation in climate protection. In fact, the European Commission, OECD, and World Bank have all recognized Austrian green budgeting as a best practice.

The three key results of the Climate Team include, first, the development of a new Green Budgeting System that acts as a link between budget and climate policy for the federal government. The second outcome is the successful implementation of the National Emission Allowance Trading Scheme and the associated Austrian CO2 pricing, which was carried out in close cooperation with the Tax…