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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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC 2016
Subjects:
GAS
AIR
CO2
OIL
GHG
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
id okr-10986-24072
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