What is the European Green Deal and will it really cost €1tn?

The EU will face a backlash from its citizens, fuelled by populist politicians, for persisting with green policies, predicts Charles Grant, director of the Centre for European Reform think-tank.

He points to the gilets jaunes protests in France, which took off after rises in fuel taxes intended to reduce carbon dioxide emissions, and the rise of the AFD in Germany. “The AFD is fuelled partly by climate scepticism. Populists are keen to promote anti-greenery, as they listen to voters,” he says.

“The green agenda will meet more and more opposition as voters start to realise it will make them poorer and affect their lifestyles, and they will worry about Europe becoming less competitive than, say, India and China, which won’t be going carbon-neutral,” says Grant. “This will increase the electoral strength of populists.”