The Potential for Climate Auctions as a Mechanism for NDC Implementation

Climate auctions are an innovative climate finance mechanism, with high potential to support nationally determined contribution (NDC) implementation and deepening through efficiently leveraging private investment. The World Bank has developed the c...

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Main Authors:	World Bank Group, Vivid Economics
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2018
Subjects:	CLIMATE CHANGE CLIMATE AUCTIONS CARBON POLICY CARBON PRICING CARBON TRADING ENVIRONMENTAL POLICY GREENHOUSE GAS EMISSIONS CLIMATE ACTION PILOT AUCTION FACILITY
Online Access:	http://documents.worldbank.org/curated/en/578381544469838606/The-Potential-for-Climate-Auctions-as-a-Mechanism-for-NDC-Implementation http://hdl.handle.net/10986/31058

id	okr-10986-31058
recordtype	oai_dc
spelling	okr-10986-310582021-05-25T09:20:47Z The Potential for Climate Auctions as a Mechanism for NDC Implementation World Bank Group Vivid Economics CLIMATE CHANGE CLIMATE AUCTIONS CARBON POLICY CARBON PRICING CARBON TRADING ENVIRONMENTAL POLICY GREENHOUSE GAS EMISSIONS CLIMATE ACTION PILOT AUCTION FACILITY Climate auctions are an innovative climate finance mechanism, with high potential to support nationally determined contribution (NDC) implementation and deepening through efficiently leveraging private investment. The World Bank has developed the climate auction model through the work of the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF). The PAF delivered cost-effective methane and nitrous oxide abatement by offering publicly-funded price guarantees for future climate results to private sector companies that competed to buy the price guarantees via an auction. This report proposes that climate auctions may be an attractive option as part of a transition towards the greater use of market-based instruments to support NDC implementation and achieve more ambitious climate results. The report reviews the broader policy context and develops three implementation modalities through which climate auctions can support NDC implementation. The report also discusses when the model is valuable and appropriate, reviewing the overarching conditions for climate outcome opportunities to be suitable for the use of climate auctions. 2018-12-20T20:58:21Z 2018-12-20T20:58:21Z 2018-12-10 Report http://documents.worldbank.org/curated/en/578381544469838606/The-Potential-for-Climate-Auctions-as-a-Mechanism-for-NDC-Implementation http://hdl.handle.net/10986/31058 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CLIMATE CHANGE CLIMATE AUCTIONS CARBON POLICY CARBON PRICING CARBON TRADING ENVIRONMENTAL POLICY GREENHOUSE GAS EMISSIONS CLIMATE ACTION PILOT AUCTION FACILITY
spellingShingle	CLIMATE CHANGE CLIMATE AUCTIONS CARBON POLICY CARBON PRICING CARBON TRADING ENVIRONMENTAL POLICY GREENHOUSE GAS EMISSIONS CLIMATE ACTION PILOT AUCTION FACILITY World Bank Group Vivid Economics The Potential for Climate Auctions as a Mechanism for NDC Implementation
description	Climate auctions are an innovative climate finance mechanism, with high potential to support nationally determined contribution (NDC) implementation and deepening through efficiently leveraging private investment. The World Bank has developed the climate auction model through the work of the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF). The PAF delivered cost-effective methane and nitrous oxide abatement by offering publicly-funded price guarantees for future climate results to private sector companies that competed to buy the price guarantees via an auction. This report proposes that climate auctions may be an attractive option as part of a transition towards the greater use of market-based instruments to support NDC implementation and achieve more ambitious climate results. The report reviews the broader policy context and develops three implementation modalities through which climate auctions can support NDC implementation. The report also discusses when the model is valuable and appropriate, reviewing the overarching conditions for climate outcome opportunities to be suitable for the use of climate auctions.
format	Report
author	World Bank Group Vivid Economics
author_facet	World Bank Group Vivid Economics
author_sort	World Bank Group
title	The Potential for Climate Auctions as a Mechanism for NDC Implementation
title_short	The Potential for Climate Auctions as a Mechanism for NDC Implementation
title_full	The Potential for Climate Auctions as a Mechanism for NDC Implementation
title_fullStr	The Potential for Climate Auctions as a Mechanism for NDC Implementation
title_full_unstemmed	The Potential for Climate Auctions as a Mechanism for NDC Implementation
title_sort	potential for climate auctions as a mechanism for ndc implementation
publisher	World Bank, Washington, DC
publishDate	2018
url	http://documents.worldbank.org/curated/en/578381544469838606/The-Potential-for-Climate-Auctions-as-a-Mechanism-for-NDC-Implementation http://hdl.handle.net/10986/31058
_version_	1764473520197206016

The Potential for Climate Auctions as a Mechanism for NDC Implementation

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