Spotlight on Principal Economist Edo Omic
Principal Economist Edo Omic is the latest addition to the Environment team based in Brussels. We asked Edo what he is most looking forward to in his new role, career highlights to date, and new projects that he is working on.
Tell us about your role at Cambridge Econometrics
I am a Principal Economist within the Environment Team based in Brussels. My work primarily focuses on understanding the impact EU and country-level climate change policies and transition to green energy sources will have on economic, socioeconomic and emission level outcomes. An element of my work focuses on financing and investment needs for green transition technologies to ensure societies achieve their sustainability objectives.
What are your areas of expertise?
I have over a decade of experience in economic and public policy analysis, gaining a deep understanding of a broad range of topics. This has included working on large-scale cross-country policy reviews for the EU to assess pre-accession countries’ investment, competitiveness, and private-sector policies. I also have expertise in quantitatively assessing public sector investment in economic and social infrastructure and industrial policies. More recently, I have dedicated a considerable portion of my work to understanding the various ways that public investment can help combat socioeconomic inequalities in the context of a just transition to green and sustainable futures.
Tell us about a career highlight
One that comes to mind is when I worked on drafting the Council of Europe Development Bank’s strategic development plan. We provided evidence to the member state shareholders about the importance of increasing investment attention towards the just transition. The evidence, including work done in-house, increasingly showed the considerable vulnerabilities that socioeconomically disadvantaged groups would be exposed to due to climate change and the green transition. We were able to increase our investment portfolio towards those projects that had a deep social impact in helping combat energy poverty via energy efficiency improvements and helping with upgrading the skills (or re-skilling) of workers at risk in an evolving green economy.
Tell us about a project you are currently working on
I am currently working on a project for the think-tank Strategic Perspectives. The project aims to analyse the socioeconomic impact of the EU’s 2040 climate target to reduce emissions by 90 per cent and achieve net-zero emissions by 2050. The outcomes of this work will demonstrate how these targets will impact key macroeconomic indicators, safeguard EU material and economic security, and develop net-zero manufacturing jobs. It is a very relevant piece of work and feeds into the debate on how the EU will implement its Green Deal Industrial Plan and Net-Zero Industry Act.
What are you looking forward to most about your new role?
At Cambridge Econometrics, I will have an opportunity to work on topics that are at the frontier of economic and policy debates concerning environmental and green transition topics. For example, how fiscal policy will change to meet the cost of financing the transition, the socioeconomic effects of a rapidly evolving green economy, and how circular economy developments will transform our economic future. All alongside a fantastic and dedicated global team of economists who are employing cutting-edge, quantitative analytical and econometric tools to provide timely analysis for our public and private sector clients around the world.
What do you like to do outside of work?
I really enjoy exploring the outdoors with hiking and bike touring. I enjoy the pleasures of rowing (when the water is flat), cooking to feed those around me (either to their delight or dismay, depending on if I’m experimenting!), and salsa dancing.