Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors
Romanian industrial and power installations entered the European Union Emissions Trading Scheme (EU ETS) in 2007 when Romania joined the European Union. Emissions from aircraft operators were included in 2012. Around 200 Romanian installations and...
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/03/26048806/romania-toward-low-carbon-climate-resilient-economy-better-use-revenues-auctioning-european-union-emissions-trading-scheme-carbon-allowances-climate-finance-programs-non-ets-sectors http://hdl.handle.net/10986/24067 |
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okr-10986-240672021-04-23T14:04:19Z Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors World Bank BUSES AUCTION JOBS ALLOWANCE AUCTIONS TOTAL EMISSIONS ALLOCATION OF ALLOWANCES GREENHOUSE EMISSION UNCERTAINTIES REGULATORY FRAMEWORK POWER PLANTS TRANSPORTATION POLICIES CLIMATE CHANGE FOREST COVER SUBWAY MARKET PLAYERS FUTURE CARBON VALUE HEATING SYSTEMS INVESTMENT FUND ELECTRICITY CLIMATE EMISSIONS FROM AIRCRAFT DEMAND FORESTS ABATEMENT DEVELOPING COUNTRIES EMISSIONS REVENUES CARBON PRICE PUBLIC TRANSPORT FOREST EMISSION REDUCTION EQUILIBRIUM GAS PRICE MARKET ENVIRONMENT AIRCRAFT RESERVE POLICY AIR BENEFICIARIES ENERGY PRODUCTION INSTRUMENTS ALLOWANCES ENERGY EFFICIENCY BUDGET ENERGY DEMAND TRADE CARBON ALLOWANCES BIOMASS COST EFFECTIVENESS LAND ENERGY POLICIES MARKET STABILITY INVESTMENT BENEFICIARY ECONOMIC IMPACTS TRANSPORT ALLOCATION SUPPLY CAPACITY GHG TRADING AIR CONDITIONING REVENUE LOW-CARBON INVESTMENTS FINANCIAL SUPPORT FREE ALLOCATION CLIMATE POLICY CARBON ECONOMY ELECTRICITY SUPPLY PUBLIC FINANCE FORESTRY INSTRUMENT RENEWABLE ENERGY ENVIRONMENTAL DIESEL PRIVATE FINANCE PUBLIC TRANSPORTATION EMISSIONS REDUCTION FINANCE EFFICIENCY MARKET PRICE INFRASTRUCTURE LAND USE ENERGY EMISSIONS REDUCTIONS Romanian industrial and power installations entered the European Union Emissions Trading Scheme (EU ETS) in 2007 when Romania joined the European Union. Emissions from aircraft operators were included in 2012. Around 200 Romanian installations and operators currently participate in the European Union Emissions Trading Scheme (EU ETS), out of a total of some 10,000, and they emitted around 40 percent of Romanian greenhouse gases in 2013. By the end of 2014, Romania collected about 260 million Euros from the EU ETS auctioning revenues, of which 71 percent was dedicated to climate finance projects. Potential EU ETS auctioning revenues for Romania could amount to around 4 billion per year by 2030. As the government strives for a climate resilient, low-carbon economy by 2030, the efficient use of revenues from the auctioning of EU ETS allowances could be an effective tool for reaching this goal in the sectors not covered by existing climate finance mechanisms and policy regulations. The introduction of a Market Stability Reserve (MSR) in 2018 is expected to increase significantly the carbon price. To conclude, in order to constitute a viable and longer-term climate finance programs supported by EU ETS auctioning revenue, it is necessary to amend the current legislation and approve an updated financial and organizational scheme for the use of EU ETS revenues. 2016-04-18T16:06:56Z 2016-04-18T16:06:56Z 2015-10-06 Brief http://documents.worldbank.org/curated/en/2016/03/26048806/romania-toward-low-carbon-climate-resilient-economy-better-use-revenues-auctioning-european-union-emissions-trading-scheme-carbon-allowances-climate-finance-programs-non-ets-sectors http://hdl.handle.net/10986/24067 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work Europe and Central Asia Romania |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
BUSES AUCTION JOBS ALLOWANCE AUCTIONS TOTAL EMISSIONS ALLOCATION OF ALLOWANCES GREENHOUSE EMISSION UNCERTAINTIES REGULATORY FRAMEWORK POWER PLANTS TRANSPORTATION POLICIES CLIMATE CHANGE FOREST COVER SUBWAY MARKET PLAYERS FUTURE CARBON VALUE HEATING SYSTEMS INVESTMENT FUND ELECTRICITY CLIMATE EMISSIONS FROM AIRCRAFT DEMAND FORESTS ABATEMENT DEVELOPING COUNTRIES EMISSIONS REVENUES CARBON PRICE PUBLIC TRANSPORT FOREST EMISSION REDUCTION EQUILIBRIUM GAS PRICE MARKET ENVIRONMENT AIRCRAFT RESERVE POLICY AIR BENEFICIARIES ENERGY PRODUCTION INSTRUMENTS ALLOWANCES ENERGY EFFICIENCY BUDGET ENERGY DEMAND TRADE CARBON ALLOWANCES BIOMASS COST EFFECTIVENESS LAND ENERGY POLICIES MARKET STABILITY INVESTMENT BENEFICIARY ECONOMIC IMPACTS TRANSPORT ALLOCATION SUPPLY CAPACITY GHG TRADING AIR CONDITIONING REVENUE LOW-CARBON INVESTMENTS FINANCIAL SUPPORT FREE ALLOCATION CLIMATE POLICY CARBON ECONOMY ELECTRICITY SUPPLY PUBLIC FINANCE FORESTRY INSTRUMENT RENEWABLE ENERGY ENVIRONMENTAL DIESEL PRIVATE FINANCE PUBLIC TRANSPORTATION EMISSIONS REDUCTION FINANCE EFFICIENCY MARKET PRICE INFRASTRUCTURE LAND USE ENERGY EMISSIONS REDUCTIONS |
| spellingShingle |
BUSES AUCTION JOBS ALLOWANCE AUCTIONS TOTAL EMISSIONS ALLOCATION OF ALLOWANCES GREENHOUSE EMISSION UNCERTAINTIES REGULATORY FRAMEWORK POWER PLANTS TRANSPORTATION POLICIES CLIMATE CHANGE FOREST COVER SUBWAY MARKET PLAYERS FUTURE CARBON VALUE HEATING SYSTEMS INVESTMENT FUND ELECTRICITY CLIMATE EMISSIONS FROM AIRCRAFT DEMAND FORESTS ABATEMENT DEVELOPING COUNTRIES EMISSIONS REVENUES CARBON PRICE PUBLIC TRANSPORT FOREST EMISSION REDUCTION EQUILIBRIUM GAS PRICE MARKET ENVIRONMENT AIRCRAFT RESERVE POLICY AIR BENEFICIARIES ENERGY PRODUCTION INSTRUMENTS ALLOWANCES ENERGY EFFICIENCY BUDGET ENERGY DEMAND TRADE CARBON ALLOWANCES BIOMASS COST EFFECTIVENESS LAND ENERGY POLICIES MARKET STABILITY INVESTMENT BENEFICIARY ECONOMIC IMPACTS TRANSPORT ALLOCATION SUPPLY CAPACITY GHG TRADING AIR CONDITIONING REVENUE LOW-CARBON INVESTMENTS FINANCIAL SUPPORT FREE ALLOCATION CLIMATE POLICY CARBON ECONOMY ELECTRICITY SUPPLY PUBLIC FINANCE FORESTRY INSTRUMENT RENEWABLE ENERGY ENVIRONMENTAL DIESEL PRIVATE FINANCE PUBLIC TRANSPORTATION EMISSIONS REDUCTION FINANCE EFFICIENCY MARKET PRICE INFRASTRUCTURE LAND USE ENERGY EMISSIONS REDUCTIONS World Bank Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| geographic_facet |
Europe and Central Asia Romania |
| description |
Romanian industrial and power
installations entered the European Union Emissions Trading
Scheme (EU ETS) in 2007 when Romania joined the European
Union. Emissions from aircraft operators were included in
2012. Around 200 Romanian installations and operators
currently participate in the European Union Emissions
Trading Scheme (EU ETS), out of a total of some 10,000, and
they emitted around 40 percent of Romanian greenhouse gases
in 2013. By the end of 2014, Romania collected about 260
million Euros from the EU ETS auctioning revenues, of which
71 percent was dedicated to climate finance projects.
Potential EU ETS auctioning revenues for Romania could
amount to around 4 billion per year by 2030. As the
government strives for a climate resilient, low-carbon
economy by 2030, the efficient use of revenues from the
auctioning of EU ETS allowances could be an effective tool
for reaching this goal in the sectors not covered by
existing climate finance mechanisms and policy regulations.
The introduction of a Market Stability Reserve (MSR) in 2018
is expected to increase significantly the carbon price. To
conclude, in order to constitute a viable and longer-term
climate finance programs supported by EU ETS auctioning
revenue, it is necessary to amend the current legislation
and approve an updated financial and organizational scheme
for the use of EU ETS revenues. |
| format |
Brief |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| title_short |
Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| title_full |
Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| title_fullStr |
Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| title_full_unstemmed |
Romania Toward a Low Carbon and Climate Resilient Economy : Better Use of Revenues from Auctioning European Union ETS Carbon Allowances for Climate Finance Programs in Non-ETS Sectors |
| title_sort |
romania toward a low carbon and climate resilient economy : better use of revenues from auctioning european union ets carbon allowances for climate finance programs in non-ets sectors |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/03/26048806/romania-toward-low-carbon-climate-resilient-economy-better-use-revenues-auctioning-european-union-emissions-trading-scheme-carbon-allowances-climate-finance-programs-non-ets-sectors http://hdl.handle.net/10986/24067 |
| _version_ |
1764455556471324672 |