Workers install solar panels. Picture taken on July 27, 2022.

Commentary Type

The economic implications of climate action


A Report to the French Prime Minister
Jean Pisani-Ferry (PIIE) and Selma Mahfouz (French Ministry of Finance)
Photo Credit: REUTERS/Luis Cortes


This report was commissioned by French Prime Minister Élisabeth Borne. It aims to develop a clearer understanding of the macroeconomic impacts of the climate transition, with a view to “better-informed decision-making”.

The report was prepared with input from around 100 experts from government bodies, economic institutes and the academic community. The work was carried out in the new institutional environment resulting from the creation of the General Secretariat for Ecological Planning (SGPE), and as the revised National Low-Carbon Strategy (SNBC 3) was being prepared. Issues raised in the November 2022 interim report were explored in greater depth, and new questions were addressed. Eleven thematic reports, prepared as part of this exercise and under the sole responsibility of their authors, are published at the same time as this summary report. The analyses and recommendations that follow draw on these contributions.

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