Perception regarding European Green Deal challenges: From environment to competition and economic costs

The objective of sustainable development cannot leave aside the relevance of short-term benefits, long-term negative externalities, and opportunity costs of actions implied by the complex relation economy-society-environment. The transition to a green economy cannot be based exclusively on win-win solutions for all involved parties but requires taking into consideration potential trade-offs between several objectives. The EU strategy for achieving sustainable development and energy security is materialised in the project European Green Deal, which sets courageous goals. Our paper groups the advantages and disadvantages of EGD policies, using exploratory and descriptive research. In this context, we analyse, based on interviews and a questionnaire, the perception of students who have taken Economics courses and are familiar with the topics of externalities and economic policies in relation to the challenges posed by the European Green Deal. While the initiators of this project expect the increase of energy efficiency of the EU states, the encouragement of cleaner industrial activities, the reduction of pollution and of other threats related to global warming, and assuring a more sustainable future for the European economy, the main concerns are related to social costs and loss of European companies’ competitiveness. Our findings identified some costs regarding international transactions’ financial aspects and competition, while the main benefits were related to environmental protection. Policy implications of this study refer to a more rigorous configuration of policy measures, through expanding the studies regarding the perception of the energy policy, for a wider and better public understanding and acceptance of its benefits and implications.