Report on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania

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dc.creatorWorld Bank
dc.date2016-04-18T18:05:51Z
dc.date2016-04-18T18:05:51Z
dc.date2015-11
dc.date.accessioned2026-07-01T00:44:09Z
dc.descriptionThis 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.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://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
dc.identifierhttps://hdl.handle.net/10986/24072
dc.identifier10.1596/24072
dc.identifier.urihttp://hdl.handle.net/123456789/410132
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectGLOBAL WARMING POTENTIAL
dc.subjectEMISSION ALLOWANCES
dc.subjectTOTAL EMISSIONS
dc.subjectENVIRONMENTAL QUALITY
dc.subjectTRANSPORT SECTOR
dc.subjectECONOMIC INCENTIVES
dc.subjectAVERAGE COSTS
dc.subjectPOWER PLANTS
dc.subjectECONOMIC GROWTH
dc.subjectRENEWABLE RESOURCES
dc.subjectENVIRONMENTAL PROTECTION
dc.subjectFOSSIL FUELS
dc.subjectCARBON DIOXIDE
dc.subjectFERROUS METALS
dc.subjectAIR QUALITY
dc.subjectCALCULATION
dc.subjectABSORPTION
dc.subjectREDUCING EMISSIONS
dc.subjectGREENHOUSE GAS EMISSIONS
dc.subjectCARBON
dc.subjectLEVELS OF EMISSIONS
dc.subjectEMISSION LEVEL
dc.subjectHEATING SYSTEMS
dc.subjectCONVERGENCE
dc.subjectPRODUCERS
dc.subjectENVIRONMENTAL COSTS
dc.subjectFINANCIAL RESOURCES
dc.subjectTIMBER
dc.subjectLABOR FORCE
dc.subjectRIVER BASINS
dc.subjectEMISSIONS
dc.subjectREVENUES
dc.subjectBIOGAS
dc.subjectENVIRONMENTAL REGULATIONS
dc.subjectINCENTIVES
dc.subjectEMISSION REDUCTION
dc.subjectGHGS
dc.subjectMODELS
dc.subjectGAS
dc.subjectMARGINAL ABATEMENT
dc.subjectDIESEL FUELS
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectEMISSION REDUCTIONS
dc.subjectAIR
dc.subjectGREENHOUSE GAS
dc.subjectCARBON LEAKAGE
dc.subjectAUDITS
dc.subjectRESOURCE USE
dc.subjectFUGITIVE EMISSIONS
dc.subjectECONOMIC ACTIVITY
dc.subjectBIOMASS
dc.subjectCOST EFFECTIVENESS
dc.subjectRENEWABLE ENERGY SOURCES
dc.subjectCO2
dc.subjectFOREST SECTOR
dc.subjectGREENHOUSE GAS MITIGATION
dc.subjectEMISSIONS FROM AVIATION
dc.subjectIRON
dc.subjectOIL
dc.subjectCARBON CAPTURE
dc.subjectENERGY SOURCES
dc.subjectRETROFITTING
dc.subjectFORESTRY SEQUESTRATION
dc.subjectEMISSION LEVELS
dc.subjectCAPACITY
dc.subjectGHG
dc.subjectOPTIONS
dc.subjectGLOBAL WARMING
dc.subjectLAND USE CHANGE
dc.subjectCARBON ECONOMY
dc.subjectPOLLUTION
dc.subjectFORESTRY
dc.subjectLAND RESOURCES
dc.subjectCARBON SINK
dc.subjectGAS EMISSIONS
dc.subjectNATURAL RESOURCES
dc.subjectENERGY POLICY
dc.subjectMETALS
dc.subjectFUELS
dc.subjectSUBSIDIES
dc.subjectLANDFILL
dc.subjectEMISSIONS REDUCTION
dc.subjectNATIONAL EMISSION
dc.subjectGREENHOUSE GASES
dc.subjectCERTAIN EXTENT
dc.subjectEFFICIENCY
dc.subjectCLEAN TECHNOLOGIES
dc.subjectTAXES
dc.subjectLAND USE
dc.subjectACCESS TO INFORMATION
dc.subjectEMISSIONS REDUCTIONS
dc.subjectANNUAL EMISSION
dc.subjectRESOURCES
dc.subjectINDUSTRIAL GASES
dc.subjectUNEMPLOYMENT
dc.subjectENERGY CONSUMPTION
dc.subjectGREENHOUSE
dc.subjectEMISSION
dc.subjectCONSUMPTION
dc.subjectLEAD
dc.subjectECONOMIC IMPACT
dc.subjectCHEMICALS
dc.subjectIPCC
dc.subjectFOSSIL FUEL POWER
dc.subjectCLIMATE CHANGE
dc.subjectCARBON STORAGE
dc.subjectVALUES
dc.subjectEMISSION REDUCTION TARGET
dc.subjectDEFORESTATION
dc.subjectCLIMATE
dc.subjectEMISSION TARGETS
dc.subjectEVALUATION CRITERIA
dc.subjectFORESTS
dc.subjectABATEMENT
dc.subjectCOLORS
dc.subjectENVIRONMENTAL TAXES
dc.subjectFOSSIL FUEL
dc.subjectCARBON PRICE
dc.subjectEXPENDITURES
dc.subjectSINK
dc.subjectPROPERTY
dc.subjectFOREST
dc.subjectDECISION MAKING
dc.subjectEMISSION PROFILE
dc.subjectENVIRONMENTAL TAX
dc.subjectCLIMATE PROTECTION
dc.subjectCLEAN DEVELOPMENT MECHANISM
dc.subjectENVIRONMENT
dc.subjectENERGY PRODUCTION
dc.subjectENERGY EFFICIENCY
dc.subjectFISHERIES
dc.subjectECONOMIC DEVELOPMENT
dc.subjectTRADE
dc.subjectNATURAL GAS
dc.subjectLAND
dc.subjectCOMBUSTION
dc.subjectEMISSION REDUCTION POTENTIAL
dc.subjectOIL REFINERIES
dc.subjectCOMMERCIAL BANKS
dc.subjectCARBON INTENSITY
dc.subjectENVIRONMENTAL INTEGRITY
dc.subjectCOAL
dc.subjectFARMS
dc.subjectCRUDE OIL
dc.subjectECOLOGY
dc.subjectCARBON MARKET
dc.subjectREVENUE
dc.subjectAVERAGE EMISSIONS
dc.subjectLOW-CARBON
dc.subjectRECYCLING
dc.subjectEMISSIONS TRENDS
dc.subjectPASTURES
dc.subjectRENEWABLE ENERGY
dc.subjectPOLICY INSTRUMENTS
dc.subjectGASES
dc.subjectEMISSION STANDARDS
dc.subjectENVIRONMENTAL
dc.subjectDIESEL
dc.subjectSUSTAINABLE RESOURCE USE
dc.subjectCOST ANALYSIS
dc.subjectPRICES
dc.subjectBENEFITS
dc.subjectENVIRONMENTAL TAXATION
dc.subjectENERGY
dc.subjectENVIRONMENTAL POLICIES
dc.subjectFORESTRY OFFSETS
dc.titleReport on Possible Improvements on Management of Revenues from Auctioning of EU ETS Allowances and Use of Flexibility Mechanisms in Romania
dc.typeReport
dc.typeRapport
dc.typeInforme

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