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Biofuels : Markets, Targets and Impacts

Timilsina, Govinda R.; Shrestha, Ashish
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
36.08%
This paper reviews recent developments in biofuel markets and their economic, social and environmental impacts. Several countries have introduced mandates and targets for biofuel expansion. Production, international trade and investment have increased sharply in the past few years. However, several existing studies have blamed biofuels as one of the key factors behind the 2007-2008 global food crisis, although the magnitudes of impacts in these studies vary widely depending on the underlying assumptions and structure of the models. Existing studies also have huge disparities in the magnitude of long-term impacts of biofuels on food prices and supply; studies that model only the agricultural sector show higher impacts, whereas studies that model the entire economy show relatively lower impacts. In terms of climate change mitigation impacts, there exists a consensus that current biofuels lead to greenhouse gas mitigation only when greenhouse gas emissions related to land-use change are not counted. If conversion of carbon rich forest land to crop land is not avoided...

Tax Policy to Reduce Carbon Emissions in South Africa

Devarajan, Shantayanan; Go, Delfin S.; Robinson, Sherman; Thierfelder, Karen
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
36.19%
Noting that South Africa may be one of the few African countries that could contribute to mitigating climate change, the authors explore the impact of a carbon tax relative to alternative energy taxes on economic welfare. Using a disaggregate general-equilibrium model of the South African economy, they capture the structural characteristics of the energy sector, linking a supply mix that is heavily skewed toward coal to energy use by different sectors and hence their carbon content. The authors consider a "pure" carbon tax as well as various proxy taxes such as those on energy or energy-intensive sectors like transport and basic metals, all of which achieve the same level of carbon reduction. In general, the more targeted the tax to carbon emissions, the better the welfare results. If a carbon tax is feasible, it will have the least marginal cost of abatement by a substantial amount when compared to alternative tax instruments. If a carbon tax is not feasible, a sales tax on energy inputs is the next best option. Moreover...

Carbon Markets, Institutions, Policies, and Research

Larson, Donald F.; Ambrosi, Philippe; Dinar, Ariel; Rahman, Shaikh Mahfuzur; Entler, Rebecca
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
36.07%
The scale of investment needed to slow greenhouse gas emissions is larger than governments can manage through transfers. Therefore, climate change policies rely heavily on markets and private capital. This is especially true in the case of the Kyoto Protocol with its provisions for trade and investment in joint projects. This paper describes institutions and policies important for new carbon markets and explains their origins. Research efforts that explore conceptual aspects of current policy are surveyed along with empirical studies that make predictions about how carbon markets will work and perform. The authors summarize early investment and price outcomes from newly formed markets and point out areas where markets have preformed as predicted and areas where markets remain incomplete. Overall the scale of carbon-market investment planned exceeds earlier expectations, but the geographic dispersion of investment is uneven and important opportunities for abatement remain untapped in some sectors, indicating a need for additional research on how investment markets work. How best to promote the development and deployment of new technologies is another promising area for study identified in the paper.

What is the Role of Carbon Taxes in Climate Change Mitigation?

Aldy, Joseph; Ley, Eduardo; Parry, Ian
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Relevância na Pesquisa
36.15%
This note argues that a carbon tax system is more practical to implement, monitor and enforce than tradable permit-based approaches to global climate-change action. It suggests that a sensible design will be an upstream carbon tax on the fossil fuel supply chain, which can also include other major non-(carbon monoxide) CO2 greenhouse gases (GHGs). While risks such as fiscal cushioning exist, a tax-based system will be more transparent and offer the appropriate incentives for participation and compliance.

Economic Implications of Reducing Carbon Emissions from Energy Use and Industrial Processes in Brazil

Chen, Y.-H. Henry; Timilsina, Govinda R.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.18%
The overall impacts on the Brazilian economy of reducing CO2 emissions from energy use and industrial processes can be assessed using a recursive dynamic general equilibrium model and a hypothetical carbon tax. The study projects that in 2040 under a business-as-usual scenario, CO2 emissions from energy use and industrial processes would be almost three times as high as in 2010 and would account for more than half of total national CO2 emissions. Current policy aims to reduce deforestation by 70 percent by 2017 and emissions intensity of the overall economy by 36-39 percent by 2020. If policy is implemented as planned and continued to 2040, CO2 emissions from energy use and industrial processes would not have to be cut until 2035 as reductions of emissions through controlling deforestation would be enough to meet emission targets. The study also finds evidence that supports the double dividend hypothesis: using revenue from a hypothetical carbon tax to finance a cut in labor income tax significantly lowers the gross domestic product impacts of the carbon tax. Using carbon tax revenue to subsidize wind power can effectively increase the output of wind power in the country...

State and Trends of the Carbon Market 2011

Linacre, Nicholas; Kossoy, Alexandre; Ambrosi, Philippe
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.2%
After five consecutive years of robust growth, the total value of the global carbon market stalled at $142 billion. Suffering from the lack of post-2012 regulatory clarity, the value of the primary Clean Development Mechanism (CDM) market fell by double-digits for the third year in a row, ending lower than it was in 2005, the first year of the Kyoto protocol. The Assigned Amount Unit (AAU) and the United States Regional Greenhouse Gas Initiative (RGGI) markets shrank as well. As these segments declined, the dominance of the European Union Allowances (EUAs) market became more pronounced than ever and the share of the carbon market primarily driven by the EU Emissions Trading Scheme (EU ETS) rose to 97 percent, dwarfing the remaining segments of the market. The carbon market growth halted at a particularly inopportune time: 2010 proved to be the hottest on record, while emission levels continued their seemingly inexorable rise. In the end, however, the year may be remembered most for the political opportunities that arose, yet were ultimately failed to materialize in the United States, Japan, Australia, and the Republic of Korea. While the international regulatory environment remains uncertain, national and local initiatives have noticeably picked up and may offer the potential to collectively overcome the international regulatory gap. These initiatives signal that...

State and Trends of the Carbon Market 2009

Capoor, Karan; Ambrosi, Philippe
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.2%
Over the past year, the global economy has cooled significantly, a far cry from the boom just a year ago in various countries and across markets. At the same time, the scientific community communicated the heightened urgency of taking action on climate change. Policymakers at national, regional, and international levels have put forward proposals to respond to the climate challenge. The most concrete of these is the adopted European Union (EU) climate and energy package (20 percent below 1990 levels by 2020), which guarantees a level of carbon market continuity beyond 2012. The EU package, along with proposals from the U.S. and Australia, tries to address the key issues of ambition, flexibility, scope, and competitiveness. Taken together, the proposals tabled by the major industrialized countries do not match the aggregate level of annex one ambition called for by the Intergovernmental Panel on Climate Change, or IPCC (25-40 percent reductions below 1990). Setting targets in line with the science will send the right market signal to stimulate greater cooperation with developing countries to scale up mitigation.

State and Trends of the Carbon Market 2005

Lecocq, Franck; Capoor, Karan
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.18%
This study reviews the state and trends of the carbon market as of May 2005, based on material provided by Evolution Markets LLC, and Natsource LLC, and based on interviews with a large number of market participants. One of the main findings is the regulatory framework of the carbon market has solidified considerably in the past 12 months, with the start of operations of EU ETS on January 1, 2005 and the entry into force of the Kyoto Protocol on February 16, 2005. While regulatory uncertainty continues, notably for the registration of Clean Development Mechanism (CDM) projects by the CDM Executive Board.

The Rio de Janeiro Low Carbon City Development Program : A Business Model for Green and Climate-Friendly Growth in Cities

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
36.15%
The Rio de Janeiro Low Carbon City Development Program is an ISO-certified framework and set of comprehensive requirements to help the city to plan, implement, monitor, and account for low carbon investments and climate change mitigation actions across all sectors in the city over time. The Program will enable the city to plan and implement the mitigation actions needed to achieve its city-wide mitigation goals, as well as credibly and transparently demonstrate the achievement of those goals through diligent monitoring and accounting of the actions taken. This issue of Directions in Urban Development describes the context underlying the development of the Program in Rio, and the key components of such an ISO-certified program including roles and responsibilities, planning and evaluation, and the program process.

What is the Role of Carbon Taxes in Climate Change Mitigation? (revised)

Aldy, Joseph; Ley, Eduardo; Parry, Ian
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.16%
This note argues that a carbon tax system is more practical to implement, monitor, and enforce than tradable permit-based approaches to global climate-change action. It suggests that a sensible design will be an upstream carbon tax on the fossil fuel supply chain, which can also include other major non-carbon dioxide (CO2) greenhouse gases (GHGs). While risks such as fiscal cushioning exist, a tax-based system will be more transparent and offer the appropriate incentives for participation and compliance.

The Low Carbon City Development Program Guidebook

World Bank; DNV KEMA
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Trabalho em Andamento
EN_US
Relevância na Pesquisa
36.07%
According to the United Nations population fund, the world is undergoing the largest wave of urban growth in history, with more people now living in cities than in rural areas. Cities are also responsible for a high proportion of global carbon emissions, which are the main driver of anthropogenic climate change. By taking the lead on low carbon development, cities have the opportunity to engage in an important dialogue about sustainable development, directly address local issues, and contribute to the reduction of greenhouse gas (GHG) emissions. Low carbon development strategies allow cities to position themselves as major players in climate change mitigation, as well as set an example for the development of national emission reduction policies. The systematic approach offered by a low carbon city development program (LCCDP) enables a city to overcome the barriers faced in single project implementation and pursue an integrated low carbon pathway. It provides a common framework to identify, implement, and measure low carbon interventions that will not only contribute to lower emissions...

Accounting for biomass carbon stock change due to wildfire in temperate forest landscapes in Australia

Keith, Heather; Lindenmayer, David B.; Mackey, Brendan G.; Blair, David; Carter, Lauren; McBurney, Lachlan; Okada, Sachiko; Konishi-Nagano, Tomoko
Fonte: Public Library of Science Publicador: Public Library of Science
Tipo: Artigo de Revista Científica Formato: 17 pages
Relevância na Pesquisa
36.17%
Carbon stock change due to forest management and disturbance must be accounted for in UNFCCC national inventory reports and for signatories to the Kyoto Protocol. Impacts of disturbance on greenhouse gas (GHG) inventories are important for many countries with large forest estates prone to wildfires. Our objective was to measure changes in carbon stocks due to short-term combustion and to simulate longer-term carbon stock dynamics resulting from redistribution among biomass components following wildfire. We studied the impacts of a wildfire in 2009 that burnt temperate forest of tall, wet eucalypts in south-eastern Australia. Biomass combusted ranged from 40 to 58 tC ha(-1), which represented 6-7% and 9-14% in low- and high-severity fire, respectively, of the pre-fire total biomass carbon stock. Pre-fire total stock ranged from 400 to 1040 tC ha(-1) depending on forest age and disturbance history. An estimated 3.9 TgC was emitted from the 2009 fire within the forest region, representing 8.5% of total biomass carbon stock across the landscape. Carbon losses from combustion were large over hours to days during the wildfire, but from an ecosystem dynamics perspective, the proportion of total carbon stock combusted was relatively small. Furthermore...

State and Trends of the Carbon Market 2011

Linacre, Nicholas; Kossoy, Alexandre; Ambrosi, Philippe
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
EN_US
Relevância na Pesquisa
36.2%
After five consecutive years of robust growth, the total value of the global carbon market stalled at $142 billion. Suffering from the lack of post-2012 regulatory clarity, the value of the primary Clean Development Mechanism (CDM) market fell by double-digits for the third year in a row, ending lower than it was in 2005, the first year of the Kyoto protocol. The Assigned Amount Unit (AAU) and the United States Regional Greenhouse Gas Initiative (RGGI) markets shrank as well. As these segments declined, the dominance of the European Union Allowances (EUAs) market became more pronounced than ever and the share of the carbon market primarily driven by the EU Emissions Trading Scheme (EU ETS) rose to 97 percent, dwarfing the remaining segments of the market. The carbon market growth halted at a particularly inopportune time: 2010 proved to be the hottest on record, while emission levels continued their seemingly inexorable rise. In the end, however, the year may be remembered most for the political opportunities that arose, yet were ultimately failed to materialize in the United States, Japan, Australia, and the Republic of Korea. While the international regulatory environment remains uncertain, national and local initiatives have noticeably picked up and may offer the potential to collectively overcome the international regulatory gap. These initiatives signal that...

State and Trends of the Carbon Market 2009

Capoor, Karan; Ambrosi, Philippe
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper
EN_US
Relevância na Pesquisa
36.2%
Over the past year, the global economy has cooled significantly, a far cry from the boom just a year ago in various countries and across markets. At the same time, the scientific community communicated the heightened urgency of taking action on climate change. Policymakers at national, regional, and international levels have put forward proposals to respond to the climate challenge. The most concrete of these is the adopted European Union (EU) climate and energy package (20 percent below 1990 levels by 2020), which guarantees a level of carbon market continuity beyond 2012. The EU package, along with proposals from the U.S. and Australia, tries to address the key issues of ambition, flexibility, scope, and competitiveness. Taken together, the proposals tabled by the major industrialized countries do not match the aggregate level of annex one ambition called for by the Intergovernmental Panel on Climate Change, or IPCC (25-40 percent reductions below 1990). Setting targets in line with the science will send the right market signal to stimulate greater cooperation with developing countries to scale up mitigation.

State and Trends of the Carbon Market 2005

Lecocq, Franck; Capoor, Karan
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
EN_US
Relevância na Pesquisa
36.18%
This study reviews the state and trends of the carbon market as of May 2005, based on material provided by Evolution Markets LLC, and Natsource LLC, and based on interviews with a large number of market participants. One of the main findings is the regulatory framework of the carbon market has solidified considerably in the past 12 months, with the start of operations of EU ETS on January 1, 2005 and the entry into force of the Kyoto Protocol on February 16, 2005. While regulatory uncertainty continues, notably for the registration of Clean Development Mechanism (CDM) projects by the CDM Executive Board.

Applying Abatement Cost Curve Methodology for Low-Carbon Strategy in Changning District, Shanghai

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Policy Note; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.3%
The speed and scale of urbanization provide an unprecedented opportunity in the coming years to invest in clean energy technologies to contain carbon emissions from the country's sprawling cities. Therefore, supporting low carbon cities is one of the government's top priorities. Shanghai municipal and changning district governments are firmly committed to the transition to a low-carbon city and requested for the World Bank's support in making changning district and Shanghai leaders in designing novel and efficient ways to achieve carbon-intensity-reduction targets. This report documents the methodology of and key findings from applying abatement cost curves and scenarios to set low-carbon targets and define cost-effective low-carbon investment programs in Changning district, Shanghai. At the request of changning district government, the Bank team supported a Shanghai energy conservation institution, assisted by an international firm, in conducting a comprehensive survey of buildings in Hongqiao area in the changning district...

State and Trends of Carbon Pricing 2014

Kossoy, Alexandre; Oppermann, Klaus; Platonova-Oquab, Alexandrina; Suphachalasai, Suphachol; Höhne, Niklas; Klein, Noémie; Gilbert, Alyssa; Lam, Long; Toop, Gemma; Wu, Qian; Hagemann, Markus; Casanova-Allende, Carlos; Li, Lina; Borkent, Bram; Warnecke,
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Publications & Research; Publications & Research :: Publication
ENGLISH; EN_US
Relevância na Pesquisa
36.08%
This report follows the evolution of carbon pricing around the world. Last year's report mapped the main carbon pricing initiatives. This year the report presents the status of each of these developing initiatives and explores the emerging trends of carbon pricing. The focus is on the recent highlights from around the world and on key lessons that can be drawn from the growing experience. Despite the difficult ongoing international climate negotiations, there is an increased focus on climate change policy and several economies are planning, implementing or refining domestic mitigation actions. These activities take careful note of past experiences, mirroring successes and dealing with weaknesses. About 40 national and over 20 sub-national jurisdictions are putting a price on carbon. Together these carbon pricing instruments cover almost 6 gigatons of carbon dioxide equivalent (GtCO2e), or about 12 percent of the annual global GHG emissions. Cooperation remains a key feature of success The international market has been struggling for some time. However...

Transition to a Low Carbon Economy in Poland

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: ESMAP Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.07%
Transition to a low carbon economy in Poland is a study by the World Bank for the Polish Government, supported by the UK Department for International Development and donors to the Energy Sector Management Assistance Program (ESMAP). The study poses the question of how Poland, an European Union (EU) member state, an industrialized 'annex one' country for the purposes of international climate discussions, and an Organization for Economic Co-operation and Development (OECD) member, can successfully transition to a low carbon economy as successfully as it underwent transition to a market economy in the early 1990s. Transition to a low carbon economy in Poland provides a detailed assessment of many aspects of a low carbon growth strategy for Poland, developing insights via a suite of models that should provide ongoing assistance to policymakers. These policymakers may find reassuring the main message that Poland's transition to a low carbon economy, while not free or simple is affordable. However, capturing the full package of technologically feasible and economically sensible abatement measures requires coordinated and early action by the government.

Pathways toward Zero-Carbon Electricity Required for Climate Stabilization

Audoly, Richard; Vogt-Schilb, Adrien; Guivarch, Celine
Fonte: World Bank Group, Washington, DC Publicador: World Bank Group, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.19%
This paper covers three policy-relevant aspects of the carbon content of electricity that are well established among integrated assessment models but under-discussed in the policy debate. First, climate stabilization at any level from 2 to 3°C requires electricity to be almost carbon-free by the end of the century. As such, the question for policy makers is not whether to decarbonize electricity but when to do it. Second, decarbonization of electricity is still possible and required if some of the key zero-carbon technologies -- such as nuclear power or carbon capture and storage -- turn out to be unavailable. Third, progressive decarbonization of electricity is part of every country's cost-effective means of contributing to climate stabilization. In addition, this paper provides cost-effective pathways of the carbon content of electricity -- computed from the results of AMPERE, a recent integrated assessment model comparison study. These pathways may be used to benchmark existing decarbonization targets...

Walking alone? How the UK’s carbon targets compare with its competitors’

Bassi, Samuela; Fankhauser, Samuel; Green, Fergus; Nachmany, Michal
Fonte: Centre for Climate Change Economics and Policy and Grantham Research Institute on Climate Change and the Environment Publicador: Centre for Climate Change Economics and Policy and Grantham Research Institute on Climate Change and the Environment
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em 14/05/2014 EN; EN
Relevância na Pesquisa
36.26%
Headline issue: The UK Government is reviewing the fourth carbon budget for the period 2023-27. The Committee on Climate Change has recommended that the budget, which was originally legislated in 2011, should remain unchanged. That is, the UK should plan to cut its greenhouse gas emissions by 50 per cent, relative to 1990 levels, by 2025 — the midpoint of the fourth carbon budget period. The fourth carbon budget has been criticised for committing the UK to a unilateral, and potentially economically damaging, emissions reductions pathway, the ambition of which is not shared by its international competitors. This paper explores whether this concern is well founded by comparing the UK with its competitors on three indicators of climate change policy action: the presence of national greenhouse gas emissions targets; the adoption of climate change legislation; and the resulting implicit or explicit price of carbon. Key findings: The UK is a global leader on climate change policy action, but it is not alone. Rather, it is part of a leading group of nations which are taking policy action on climate change. Also in this group are many of the UK’s major trading partners, including France, Germany, Norway, Korea, Mexico and China. There is no major economic power that has not taken steps to combat climate change — although taken together this action falls short of the global commitment to stabilise climate change at no more than 2°C of average warming. A comparison of the UK’s greenhouse gas emissions reduction targets with its competitors’ shows that: All but one (Turkey) of the UK’s main trading partners and competitors have quantified greenhouse gas emissions reduction or limitation targets; the UK’s fourth carbon budget appears consistent with the ambitions of the European Union for the period to 2030; expressed in terms of carbon intensity (emissions per unit of GDP)...