David Natali Michele Raitano Giulia Valenti

Pensions and Green Transition: new inequalities and further challenges for pension systems’ adequacy and sustainability

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Abstract

Pensions policy in Europe has gone through a long reform process in the last decades. Reforms have mainly addressed the consequences of population aging. Yet in the last years, policymakers have started to focus on new socio-economic challenges, for example those related to the so-called Green Transition – the transition to a neutral economic system with low carbon emissions. The same challenges are expected to be at the core of pension reforms in the future because of the projected impact on pension systems’ sustainability and adequacy. The present article proposes – through a forward-looking approach – the review of the expected impact of the Green Transition on pension policy. The article has a three-fold goal. The first is to review the main effects of the ecological transition on economic growth, labor markets and financial markets. Second, the article sheds light on the expected effects on the long-term viability of pensions and the future reform strategies to address them. Third, the article proposes the reflection on future reform strategies.seful passpartout to give new communicative polish to a segmented archipelago of local and short-term micro-projects. The essay discusses some conditions that would allow interventions to combat juvenile educational poverty to be a real opportunity to rethink welfare strategies in an innovative way.

Keywords

  • Green Transition
  • pensions
  • inequality

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