Greece needs to sustain its recent pace of GHG emission reductions to reach net zero
Greening energy use is crucial for decoupling emissions from economic activity
Transforming the energy system will achieve the largest emission cuts
Revising fossil fuel taxes and subsidies to introduce a minimum carbon price floor would make emission pricing more effective
Lower income households spend a larger share of their income on home energy, especially electricity
Higher carbon prices would reduce lower income households’ real incomes the most
Scenarios for greening the energy mix
A faster green energy transition would shift growth to future decades and contribute to reducing the damages from climate change
Taxes from road transport are a significant source of governmental income
Greening electricity generation can make significant inroads into Greece’s emissions
Greece plans to rapidly expand electricity generated from renewable sources
Wholesale electricity prices in Greece are among the highest in Europe
Greece could further improve competition in its electricity retail market
Road transport can make a large contribution to reducing Greece’s GHG emissions
Greece is especially reliant on motor vehicles but spends few resources on purchasing them
Greece’s vehicle fleet is old and fleet renewal towards greener vehicles is slow
Poorer households are less likely to own a car
Using cars less would reduce Greece’s high incidence of accidents and congestion
Greece’s railway network can be expanded and used more intensively
A large share of the population faces high energy bills and limits heating
Energy consumption and carbon emissions of Greece’s buildings can improve
Requirements to upgrade buildings’ energy efficiency will need to account for Greece’s high home ownership rate, low mobility and high share of multi-owner buildings
Wildfires have already become more frequent and severe
Greece can increase coverage and reduce costs for climate-related insurance
Greece can use its water resources more efficiently
Nine out of ten Greeks perceive climate change to be a major threat
Pursuing clear long-term policy programmes bolsters private sector investment
Greece’s green economy transition is likely to affect workers across many sectors