Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania
This report is on possible improvements on management of revenues from auctioning of European Union Emissions Trading System (EU ETS) allowances and use of flexibility mechanisms in Romania. The principal objective of this report is to propose imp...
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| Format: | Report |
| Language: | English en_US |
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Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/03/26049339/report-possible-improvements-management-revenues-auctioning-european-union-emissions-trading-system-eu-ets-allowances-use-flexibility-mechanisms-romania http://hdl.handle.net/10986/24072 |
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okr-10986-24072 |
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| recordtype |
oai_dc |
| 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 |
GLOBAL WARMING POTENTIAL EMISSION ALLOWANCES TOTAL EMISSIONS ENVIRONMENTAL QUALITY TRANSPORT SECTOR ECONOMIC INCENTIVES AVERAGE COSTS POWER PLANTS ECONOMIC GROWTH RENEWABLE RESOURCES ENVIRONMENTAL PROTECTION FOSSIL FUELS CARBON DIOXIDE FERROUS METALS AIR QUALITY CALCULATION ABSORPTION REDUCING EMISSIONS GREENHOUSE GAS EMISSIONS CARBON LEVELS OF EMISSIONS EMISSION LEVEL HEATING SYSTEMS CONVERGENCE PRODUCERS ENVIRONMENTAL COSTS FINANCIAL RESOURCES TIMBER LABOR FORCE RIVER BASINS EMISSIONS REVENUES BIOGAS ENVIRONMENTAL REGULATIONS INCENTIVES EMISSION REDUCTION GHGS MODELS GAS MARGINAL ABATEMENT DIESEL FUELS SUSTAINABLE DEVELOPMENT EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE AUDITS RESOURCE USE FUGITIVE EMISSIONS ECONOMIC ACTIVITY BIOMASS COST EFFECTIVENESS RENEWABLE ENERGY SOURCES CO2 FOREST SECTOR GREENHOUSE GAS MITIGATION EMISSIONS FROM AVIATION IRON OIL CARBON CAPTURE ENERGY SOURCES RETROFITTING FORESTRY SEQUESTRATION EMISSION LEVELS CAPACITY GHG OPTIONS GLOBAL WARMING LAND USE CHANGE CARBON ECONOMY POLLUTION FORESTRY LAND RESOURCES CARBON SINK GAS EMISSIONS NATURAL RESOURCES ENERGY POLICY METALS FUELS SUBSIDIES LANDFILL EMISSIONS REDUCTION NATIONAL EMISSION GREENHOUSE GASES CERTAIN EXTENT EFFICIENCY CLEAN TECHNOLOGIES TAXES LAND USE ACCESS TO INFORMATION EMISSIONS REDUCTIONS ANNUAL EMISSION RESOURCES INDUSTRIAL GASES UNEMPLOYMENT ENERGY CONSUMPTION GREENHOUSE EMISSION CONSUMPTION LEAD ECONOMIC IMPACT CHEMICALS IPCC FOSSIL FUEL POWER CLIMATE CHANGE CARBON STORAGE VALUES EMISSION REDUCTION TARGET DEFORESTATION CLIMATE EMISSION TARGETS EVALUATION CRITERIA FORESTS ABATEMENT COLORS ENVIRONMENTAL TAXES FOSSIL FUEL CARBON PRICE EXPENDITURES SINK PROPERTY FOREST DECISION MAKING EMISSION PROFILE ENVIRONMENTAL TAX CLIMATE PROTECTION CLEAN DEVELOPMENT MECHANISM ENVIRONMENT ENERGY PRODUCTION ENERGY EFFICIENCY FISHERIES ECONOMIC DEVELOPMENT TRADE NATURAL GAS LAND COMBUSTION EMISSION REDUCTION POTENTIAL OIL REFINERIES COMMERCIAL BANKS CARBON INTENSITY ENVIRONMENTAL INTEGRITY COAL FARMS CRUDE OIL ECOLOGY CARBON MARKET REVENUE AVERAGE EMISSIONS LOW-CARBON RECYCLING EMISSIONS TRENDS PASTURES RENEWABLE ENERGY POLICY INSTRUMENTS GASES EMISSION STANDARDS ENVIRONMENTAL DIESEL SUSTAINABLE RESOURCE USE COST ANALYSIS PRICES BENEFITS ENVIRONMENTAL TAXATION ENERGY ENVIRONMENTAL POLICIES FORESTRY OFFSETS |
| spellingShingle |
GLOBAL WARMING POTENTIAL EMISSION ALLOWANCES TOTAL EMISSIONS ENVIRONMENTAL QUALITY TRANSPORT SECTOR ECONOMIC INCENTIVES AVERAGE COSTS POWER PLANTS ECONOMIC GROWTH RENEWABLE RESOURCES ENVIRONMENTAL PROTECTION FOSSIL FUELS CARBON DIOXIDE FERROUS METALS AIR QUALITY CALCULATION ABSORPTION REDUCING EMISSIONS GREENHOUSE GAS EMISSIONS CARBON LEVELS OF EMISSIONS EMISSION LEVEL HEATING SYSTEMS CONVERGENCE PRODUCERS ENVIRONMENTAL COSTS FINANCIAL RESOURCES TIMBER LABOR FORCE RIVER BASINS EMISSIONS REVENUES BIOGAS ENVIRONMENTAL REGULATIONS INCENTIVES EMISSION REDUCTION GHGS MODELS GAS MARGINAL ABATEMENT DIESEL FUELS SUSTAINABLE DEVELOPMENT EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE AUDITS RESOURCE USE FUGITIVE EMISSIONS ECONOMIC ACTIVITY BIOMASS COST EFFECTIVENESS RENEWABLE ENERGY SOURCES CO2 FOREST SECTOR GREENHOUSE GAS MITIGATION EMISSIONS FROM AVIATION IRON OIL CARBON CAPTURE ENERGY SOURCES RETROFITTING FORESTRY SEQUESTRATION EMISSION LEVELS CAPACITY GHG OPTIONS GLOBAL WARMING LAND USE CHANGE CARBON ECONOMY POLLUTION FORESTRY LAND RESOURCES CARBON SINK GAS EMISSIONS NATURAL RESOURCES ENERGY POLICY METALS FUELS SUBSIDIES LANDFILL EMISSIONS REDUCTION NATIONAL EMISSION GREENHOUSE GASES CERTAIN EXTENT EFFICIENCY CLEAN TECHNOLOGIES TAXES LAND USE ACCESS TO INFORMATION EMISSIONS REDUCTIONS ANNUAL EMISSION RESOURCES INDUSTRIAL GASES UNEMPLOYMENT ENERGY CONSUMPTION GREENHOUSE EMISSION CONSUMPTION LEAD ECONOMIC IMPACT CHEMICALS IPCC FOSSIL FUEL POWER CLIMATE CHANGE CARBON STORAGE VALUES EMISSION REDUCTION TARGET DEFORESTATION CLIMATE EMISSION TARGETS EVALUATION CRITERIA FORESTS ABATEMENT COLORS ENVIRONMENTAL TAXES FOSSIL FUEL CARBON PRICE EXPENDITURES SINK PROPERTY FOREST DECISION MAKING EMISSION PROFILE ENVIRONMENTAL TAX CLIMATE PROTECTION CLEAN DEVELOPMENT MECHANISM ENVIRONMENT ENERGY PRODUCTION ENERGY EFFICIENCY FISHERIES ECONOMIC DEVELOPMENT TRADE NATURAL GAS LAND COMBUSTION EMISSION REDUCTION POTENTIAL OIL REFINERIES COMMERCIAL BANKS CARBON INTENSITY ENVIRONMENTAL INTEGRITY COAL FARMS CRUDE OIL ECOLOGY CARBON MARKET REVENUE AVERAGE EMISSIONS LOW-CARBON RECYCLING EMISSIONS TRENDS PASTURES RENEWABLE ENERGY POLICY INSTRUMENTS GASES EMISSION STANDARDS ENVIRONMENTAL DIESEL SUSTAINABLE RESOURCE USE COST ANALYSIS PRICES BENEFITS ENVIRONMENTAL TAXATION ENERGY ENVIRONMENTAL POLICIES FORESTRY OFFSETS World Bank Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| geographic_facet |
Europe and Central Asia Romania |
| description |
This report is on possible improvements
on management of revenues from auctioning of European Union
Emissions Trading System (EU ETS) allowances and use of
flexibility mechanisms in Romania. The principal objective
of this report is to propose improvements on management of
revenue from the auctioning of EU ETS allowances, as well as
describe possible use of flexibility mechanisms in Romania,
in order to mobilize and enable both public and private
actors to reduce greenhouse gas (GHG) emissions from
economic activities in non EU ETS sectors in line with EU
targets. The report focuses on possible actions in the
timeframe 2016-2020, aligned with EU ETS phase and EU target
for 2020 and 2030. The report is positioned amid the wider
context of a vision for Romania to become a climate
resilient, low-carbon economy, which has mainstreamed its
climate policies and actions into smart, green, and
inclusive growth, described in the National Climate Change
and Low Carbon Green Growth Strategy for Romania 2016-2030
and 2015-2020 Climate Action Plan prepared by the World Bank
for Romania. The report found that until now, there had been
no clear and effective procedure for the administration of
ETS auctioning revenue, and no selection and prioritization
criteria. The lack of selection and prioritization criteria
and guidance for using ETS auctioning revenue to finance GHG
emission reduction projects allowed for the selection of
projects without proper assessment in terms of their
reduction of GHG emissions, as well as cost effectiveness
and other important factors. In order to maximize the
environmental, social, and economic impact of possible
sectoral climate investment programs, and based on
international experience, the World Bank’s expert team
proposes to use the following criteria for prioritizing and
selecting non-EU ETS sectoral programs to be financed with
EU ETS auctioning revenue: (i) cost efficiency of Emissions
Reduction; (ii) leverage of public money to private finance;
(iii) possibility for rapid development and scale up; (iv)
lack of other financing mechanisms; and (v)support for job
creation. Based on these criteria, the report recommends
supporting the following climate investment programs for the
years 2016-2020:(a) replacing household light bulbs, air
conditioning units, individual heating systems,
refrigerators, and washing machines with more performant
ones; (b) upgrading household buildings insulation; (iii)
implementing local, small- and household-scale renewable
energy production; and (iv) forestry and biomass production,
and land use improvements. It was concluded that the
proposed improvements on managing revenue from the
auctioning of EU ETS allowances laid out in this report
could be used by the Ministry of Environment, Waters and
Forests, as a responsible body for climate policy, for
internal discussions with other Romanian ministries and
agencies to reach consensus on the next steps. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| title_short |
Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| title_full |
Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| title_fullStr |
Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| title_full_unstemmed |
Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania |
| title_sort |
report on possible improvements on management of revenues from auctioning of eu ets allowances and use of flexibility mechanisms in romania |
| publisher |
Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/03/26049339/report-possible-improvements-management-revenues-auctioning-european-union-emissions-trading-system-eu-ets-allowances-use-flexibility-mechanisms-romania http://hdl.handle.net/10986/24072 |
| _version_ |
1764455566698086400 |
| spelling |
okr-10986-240722021-04-23T14:04:19Z Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania World Bank GLOBAL WARMING POTENTIAL EMISSION ALLOWANCES TOTAL EMISSIONS ENVIRONMENTAL QUALITY TRANSPORT SECTOR ECONOMIC INCENTIVES AVERAGE COSTS POWER PLANTS ECONOMIC GROWTH RENEWABLE RESOURCES ENVIRONMENTAL PROTECTION FOSSIL FUELS CARBON DIOXIDE FERROUS METALS AIR QUALITY CALCULATION ABSORPTION REDUCING EMISSIONS GREENHOUSE GAS EMISSIONS CARBON LEVELS OF EMISSIONS EMISSION LEVEL HEATING SYSTEMS CONVERGENCE PRODUCERS ENVIRONMENTAL COSTS FINANCIAL RESOURCES TIMBER LABOR FORCE RIVER BASINS EMISSIONS REVENUES BIOGAS ENVIRONMENTAL REGULATIONS INCENTIVES EMISSION REDUCTION GHGS MODELS GAS MARGINAL ABATEMENT DIESEL FUELS SUSTAINABLE DEVELOPMENT EMISSION REDUCTIONS AIR GREENHOUSE GAS CARBON LEAKAGE AUDITS RESOURCE USE FUGITIVE EMISSIONS ECONOMIC ACTIVITY BIOMASS COST EFFECTIVENESS RENEWABLE ENERGY SOURCES CO2 FOREST SECTOR GREENHOUSE GAS MITIGATION EMISSIONS FROM AVIATION IRON OIL CARBON CAPTURE ENERGY SOURCES RETROFITTING FORESTRY SEQUESTRATION EMISSION LEVELS CAPACITY GHG OPTIONS GLOBAL WARMING LAND USE CHANGE CARBON ECONOMY POLLUTION FORESTRY LAND RESOURCES CARBON SINK GAS EMISSIONS NATURAL RESOURCES ENERGY POLICY METALS FUELS SUBSIDIES LANDFILL EMISSIONS REDUCTION NATIONAL EMISSION GREENHOUSE GASES CERTAIN EXTENT EFFICIENCY CLEAN TECHNOLOGIES TAXES LAND USE ACCESS TO INFORMATION EMISSIONS REDUCTIONS ANNUAL EMISSION RESOURCES INDUSTRIAL GASES UNEMPLOYMENT ENERGY CONSUMPTION GREENHOUSE EMISSION CONSUMPTION LEAD ECONOMIC IMPACT CHEMICALS IPCC FOSSIL FUEL POWER CLIMATE CHANGE CARBON STORAGE VALUES EMISSION REDUCTION TARGET DEFORESTATION CLIMATE EMISSION TARGETS EVALUATION CRITERIA FORESTS ABATEMENT COLORS ENVIRONMENTAL TAXES FOSSIL FUEL CARBON PRICE EXPENDITURES SINK PROPERTY FOREST DECISION MAKING EMISSION PROFILE ENVIRONMENTAL TAX CLIMATE PROTECTION CLEAN DEVELOPMENT MECHANISM ENVIRONMENT ENERGY PRODUCTION ENERGY EFFICIENCY FISHERIES ECONOMIC DEVELOPMENT TRADE NATURAL GAS LAND COMBUSTION EMISSION REDUCTION POTENTIAL OIL REFINERIES COMMERCIAL BANKS CARBON INTENSITY ENVIRONMENTAL INTEGRITY COAL FARMS CRUDE OIL ECOLOGY CARBON MARKET REVENUE AVERAGE EMISSIONS LOW-CARBON RECYCLING EMISSIONS TRENDS PASTURES RENEWABLE ENERGY POLICY INSTRUMENTS GASES EMISSION STANDARDS ENVIRONMENTAL DIESEL SUSTAINABLE RESOURCE USE COST ANALYSIS PRICES BENEFITS ENVIRONMENTAL TAXATION ENERGY ENVIRONMENTAL POLICIES FORESTRY OFFSETS This report is on possible improvements on management of revenues from auctioning of European Union Emissions Trading System (EU ETS) allowances and use of flexibility mechanisms in Romania. The principal objective of this report is to propose improvements on management of revenue from the auctioning of EU ETS allowances, as well as describe possible use of flexibility mechanisms in Romania, in order to mobilize and enable both public and private actors to reduce greenhouse gas (GHG) emissions from economic activities in non EU ETS sectors in line with EU targets. The report focuses on possible actions in the timeframe 2016-2020, aligned with EU ETS phase and EU target for 2020 and 2030. The report is positioned amid the wider context of a vision for Romania to become a climate resilient, low-carbon economy, which has mainstreamed its climate policies and actions into smart, green, and inclusive growth, described in the National Climate Change and Low Carbon Green Growth Strategy for Romania 2016-2030 and 2015-2020 Climate Action Plan prepared by the World Bank for Romania. The report found that until now, there had been no clear and effective procedure for the administration of ETS auctioning revenue, and no selection and prioritization criteria. The lack of selection and prioritization criteria and guidance for using ETS auctioning revenue to finance GHG emission reduction projects allowed for the selection of projects without proper assessment in terms of their reduction of GHG emissions, as well as cost effectiveness and other important factors. In order to maximize the environmental, social, and economic impact of possible sectoral climate investment programs, and based on international experience, the World Bank’s expert team proposes to use the following criteria for prioritizing and selecting non-EU ETS sectoral programs to be financed with EU ETS auctioning revenue: (i) cost efficiency of Emissions Reduction; (ii) leverage of public money to private finance; (iii) possibility for rapid development and scale up; (iv) lack of other financing mechanisms; and (v)support for job creation. Based on these criteria, the report recommends supporting the following climate investment programs for the years 2016-2020:(a) replacing household light bulbs, air conditioning units, individual heating systems, refrigerators, and washing machines with more performant ones; (b) upgrading household buildings insulation; (iii) implementing local, small- and household-scale renewable energy production; and (iv) forestry and biomass production, and land use improvements. It was concluded that the proposed improvements on managing revenue from the auctioning of EU ETS allowances laid out in this report could be used by the Ministry of Environment, Waters and Forests, as a responsible body for climate policy, for internal discussions with other Romanian ministries and agencies to reach consensus on the next steps. 2016-04-18T18:05:51Z 2016-04-18T18:05:51Z 2015-11 Report http://documents.worldbank.org/curated/en/2016/03/26049339/report-possible-improvements-management-revenues-auctioning-european-union-emissions-trading-system-eu-ets-allowances-use-flexibility-mechanisms-romania http://hdl.handle.net/10986/24072 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work Europe and Central Asia Romania |