Going Clean – the Economics of China's Low-Carbon Development

Total Page:16

File Type:pdf, Size:1020Kb

Going Clean – the Economics of China's Low-Carbon Development SEI - Africa Institute of Resource Assessment University of Dar es Salaam P. O. Box 35097, Dar es Salaam Tanzania Tel: +255-(0)766079061 SEI - Asia 15th Floor, Witthyakit Building 254 Chulalongkorn University Chulalongkorn Soi 64 Phyathai Road, Pathumwan Bangkok 10330 Thailand Tel+(66) 22514415 SEI - Oxford Suite 193 266 Banbury Road, Oxford, OX2 7DL UK Tel+44 1865 426316 SEI - Stockholm Kräftriket 2B SE -106 91 Stockholm Sweden Tel+46 8 674 7070 SEI - Tallinn Lai 34, Box 160 EE-10502, Tallinn Estonia Tel+372 6 276 100 SEI - U.S. 11 Curtis Avenue Somerville, MA 02144 USA Tel+1 617 627-3786 SEI - York University of York Heslington York YO10 5DD UK Tel+44 1904 43 2897 The Stockholm Environment Institute Going Clean – The Economics of China’s SEI is an independent, international research institute.It has been Low-carbon Development engaged in environment and development issuesat local, national, regional and global policy levels for more than a quarterofacentury. Stockholm Environment Institute and SEI supports decision making for sustainable development by the Chinese Economists 50 Forum bridging science and policy. sei-international.org Going Clean – The Economics of China’s Low-carbon Development Stockholm Environment Institute and the Chinese Economists 50 Forum Editorial Board: Fan Gang Lord Nicholas Stern Ottmar Edenhofer Xu Shanda Klas Eklund Frank Ackerman Lailai Li Karl Hallding Stockholm Environment Institute Kräftriket 2B SE 106 91 Stockholm Sweden Tel: +46 8 674 7070 Fax: +46 8 674 7020 Web: www.sei-international.org Head of Communications: Robert Watt Publications Manager: Erik Willis Layout: Richard Clay Cover Photo: © David Schroeter This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes, without special permis- sion from the copyright holder(s) provided acknowledgement of the source is made. No use of this publication may be made for resale or other commercial purpose, without the written permission of the copyright holder(s). Copyright © November 2009 by Stockholm Environment Institute / Chinese Economists 50 Forum ISBN 978-91-86125-16-5 Partners: Donors: CONTENTS Acknowledgements iv Preface v Key conclusions vi 1 The climate challenge 1 1.1 Science says: a finite global budget for greenhouse gas emissions 1 1.2 China’s sustainability challenge in the climate change context 3 1.3 This report 4 2 The need for a fair deal 7 2.1 Emissions, living standards, and consumption 7 2.2 Frameworks for burden sharing 11 2.3 What is China’s fair share of global emissions reductions? 12 3 The art of the possible – a deep carbon reduction scenario 15 3.1 The deep carbon reduction scenario 15 3.2 Construction 15 3.3 Transport 16 3.4 Industry 18 3.5 Electricity generation 19 3.6 Managing the challenges and disruptive effects 20 4 Market mechanisms to price carbon 23 4.1 Phasing out subsidies 23 4.2 Carbon tax 24 4.3 Cap-and-trade system 25 4.4 China’s choices for a carbon pricing mechanism 27 4.5 A global carbon market 27 4.6 China in a global carbon market 29 4.7 International harmonisation of carbon prices 30 4.8 International competitiveness and carbon tariff proposals 31 5 Innovation and investment 33 5.1 Technology and domestic innovation policy 33 5.2 A new plan to boost technology transfer 34 5.3 Investment and financing 35 6 A low-carbon China is a modern China 39 References 41 Appendix 1: List of Annex I and non-Annex I countries 44 Endnotes 46 ACKNOWLEDGEMENTS his report, and the background papers which it SEI and CE50 would like to express their appreciation Tbuilds on, have been developed under the project to cooperating institutions for this project: the National Research and Forum on Economics of Climate Change – Economic Research Institute (NERI), China; Towards a Low-Carbon Economy in China. The project the Potsdam Institute for Climate Impact (PIK), has been jointly led by the Stockholm Environment Germany; the Deutsche Gesellschaft für Technische Institute (SEI) and the Chinese Economists 50 Forum Zusammenarbeit (GTZ), Germany; and the Grantham (CE50). Research Institute on Climate Change and Environment, UK. Naturally, this project would not have been possible The project originated from discussions between the without the generous support of funding agencies: the CE50 and SEI in the winter of 2006/2007 to establish an Swedish Ministry of Environment; the German Federal informal Chinese-international forum for dialogue and Ministry of Environment; Shell (China); the UK research between economists (including environmental Department of Energy and Climate Change (DECC); specialists), as well as experts, scientists and policy and the Rockefeller Brothers Foundation. makers concerning climate change and China’s development. Led by CE50 and SEI, an inception The project team is particularly grateful to Göran meeting to initiate this process was held in Stockholm Carstedt for moderating the inception meeting, Måns in February 2008, which identified key research issues Lönnroth for providing advice and guidance throughout and formed a research agenda. Targeted research the project process, Frédéric Cho for participation in was carried out, with scientific input from SEI, PIK, the process and valuable text input, and Zhu Saini of NERI and LSE Grantham Institute, culminating in 15 NERI for assisting with project co-ordination. Many background papers. A mid-term review meeting was thanks also to Ying Li for translation of this report into organised in Beijing in December 2008 to review the Chinese, Tom Gill for proof-reading, and Lan Wang drafts of the background papers and discuss cross- for assistance in the finalisation of the production of cutting issues, and a final Global Forum was convened the report. in Beijing in September 2009 to present and discuss key findings. The work to synthesise the research findings into this report has been carried out by a drafting team lead by The project has involved, at different stages, a number Karl Hallding. The drafting team has involved Klas of leading Chinese economists, and international Eklund (SEB); Helen Thai, Guoyi Han, Marie Olsson, economists working with climate change policies on and Sivan Kartha (SEI); Su Ming (Peking University), a global level. Chinese economists: Liu He, Fan Gang, Cao Jing (Tsinghua University), and Gunnar Luderer Wu Xiaoling, Xu Shanda, Justin Yifu Lin, Tang Min, (PIK). Cai Fang, Hu Angang, Chen Dongqi, and Xie Ping. International economists: Lord Nicholas Stern, Ottmar Edenhofer, Frank Ackerman, Assar Lindbeck, Karl- Göran Mäler, Thomas Sterner, Kai Schlegelmilch, Laurence Tubiana, Tariq Banuri, Klas Eklund, and Yuichi Moriguchi. Karl Hallding Lailai Li This international collaborative research has involved Drafting team leader Project Leader a number of outstanding academics who are listed with their respective background paper on page 41. The background papers will be published in the spring of 2010, and can be obtained electronically in draft form Stockholm and Bangkok, November 2009 from SEI. iv PREFacE he international community is increasingly Our report demonstrates that it is feasible for China Trecognising the risks of global warming caused to drastically reduce its carbon emissions in key by human activities. The estimated potential costs carbon-intensive industries, while still maintaining of non-action to climate change, based on available economic growth and development aspirations. scientific research, are so high that any action to reduce Moreover, these reductions can be achieved within carbon emission may be regarded as non-regrettable. the finite global carbon budget for greenhouse gas Therefore, climate change can be seen as the defining emissions, as determined by the hard constraints of issue of our age, as it may “rewrite the global equation climate science. Going Clean details the key economic for development, peace and security.”1 Our generation instruments, policies and institutions which would is at a crossroads, facing the greatest challenge of enable China to cost-effectively reduce its emissions. the modern, industrial era – to drastically reduce our Market mechanisms such as price liberalisation, reliance on fossil fuels while at the same time moving carbon pricing, and a global carbon market, and inter- forward economic growth. China’s participation, along country joint mitigation plans need to be supported with other rapidly emerging countries, and developed by substantial investment in clean technologies, and countries, is integral to any climate change solution. international finance and technology transfer. Such a transformation, for China and the rest of the world, will To achieve this transformation to a low-carbon global not be easy. But it is possible, necessary and worthwhile economy, we need both better international cooperative to pursue. mechanisms and new growth approaches and policy strategies for individual countries. China has already recognised the vulnerabilities of its ongoing pattern of economic growth and the need for low-carbon development.2 Even in these difficult economic times, climate change action may present more opportunities than costs, for both developed and developing nations. Johan Rockström Fan Gang China, like much of the world, would benefit from Executive Director Director early mitigation efforts. Stockholm Environment National Economic Institute Research Institute This report, Going Clean – The Economics of China’s Low-carbon Development, is unique in delivering a common research partnership between the Chinese and
Recommended publications
  • Carbon Finance Guide for Local Governments
    The Community Development Carbon Fund (CDCF) provides carbon finance to projects in the poorer areas of the developing world. The Fund, a public/private initiative designed in cooperation with the International Emissions Trading Association and the United Nations Framework Convention on Climate Change, became operational in March 2003. The first tranche of the CDCF is capitalized at $128.6 million with nine governments and 16 corporations/organizations participating in it and is closed to further subscriptions. The CDCF supports projects that combine community development attributes with emission reductions to create “development plus carbon” credits, and will significantly improve the lives of the poor and their local environment. Carbon Finance Guide for Local Governments The World Bank Carbon Finance Unit’s (CFU) initiatives are part of the larger global effort to combat climate change, and go hand in hand with the World Bank and its Environment Department’s mission to reduce poverty and improve living standards in the developing world. The CFU uses money contributed by governments and companies in OECD (Organization for Economic Co-operation and Development) Coordinated by countries to purchase project-based greenhouse gas emission reductions in developing countries and countries with economies in transition. Haddy J. Sey Task Team Leader, World Bank The International Institute for Environment and Development (IIED) is one of the world’s top policy research organisations focusing on sustainable development. With partners on five continents, IIED is helping to tackle 21st-century challenges ranging from climate change and cities to the pressures on Written by natural resources and the forces shaping global markets.
    [Show full text]
  • Moving to a Low-Carbon Economy: the Financial Impact of the Low- Carbon Transition
    Moving to a Low-Carbon Economy: The Financial Impact of the Low- Carbon Transition Climate Policy Initiative David Nelson Morgan Hervé-Mignucci Andrew Goggins Sarah Jo Szambelan Julia Zuckerman October 2014 CPI Energy Transition Series October 2014 The Financial Impact of the Low-Carbon Transition Descriptors Sector Renewable Energy Finance Region Global, United States, European Union, China, India Keywords Stranded assets, low-carbon, finance, renewable energy Contact David Nelson, [email protected] Acknowledgements The authors gratefully acknowledge input from expert reviewers, including Billy Pizer of Duke University, Karthik Ganesan of CEEW, Michael Schneider of Deutsche Bank, Nick Robins of UNEP, and Vikram Widge of the World Bank. The perspectives expressed in this paper are CPI’s own. We also thank our colleagues who provided analytical contributions, internal review, and publication support, including Ruby Barcklay, Jeff Deason, Amira Hankin, Federico Mazza, Elysha Rom-Povolo, Dan Storey, and Tim Varga. About CPI Climate Policy Initiative is a team of analysts and advisors that works to improve the most important energy and land use policies around the world, with a particular focus on finance. An independent organization supported in part by a grant from the Open Society Foundations, CPI works in places that provide the most potential for policy impact including Brazil, China, Europe, India, Indonesia, and the United States. Our work helps nations grow while addressing increasingly scarce resources and climate risk. This is a complex challenge in which policy plays a crucial role. About this project The reports were commissioned by the New Climate Economy project as part of the research conducted for the Global Commission on the Economy and Climate.
    [Show full text]
  • IFC Carbon Neutrality Committment Factsheet
    Carbon Neutral Commitment for IFC’s Own Operations IFC, along with the World Bank, are committed to making our internal business operations carbon neutral by: IFC’s Carbon Neutrality 1. Calculating greenhouse gas (GHG) emissions from our operations Commitment is an integral 2. Reducing carbon emissions through both familiar and innovative conservation measures part of IFC's corporate 3. Purchasing carbon offsets to balance our remaining internal carbon footprint after our reduction efforts response to climate change. IFC’s carbon neutrality commitment encourages continual improvement towards more efficient business operations that help mitigate climate change. It is also consistent with IFC’s strategy of guiding our investment work to address climate change and ensure environmental and social sustainability of projects that IFC finances. This factsheet focuses on the carbon footprint of our internal operations rather than the footprint of IFC’s portfolio. IFC uses the ‘operational control approach’ for setting its CALCULATING OUR GHG EMISSIONS organizational boundaries for its GHG inventory. Emissions are included from all locations for which IFC has direct control over IFC has calculated the annual GHG emissions for its internal business operations, and where it can influence decisions that impact GHG operations for headquarters in Washington, D.C. since 2006, and for emissions. IFC’s global operations since 2008 including global business travel. IFC’s annual GHG inventory includes the following sources of The methodology IFC formally used is based on the Greenhouse Gas GHG emissions from IFC’s leased and owned facilities and air Protocol Initiative (GHG Protocol), an internationally recognized GHG travel: accounting and reporting standard.
    [Show full text]
  • The Financial Impact of the Low- Carbon Transition
    Moving to a Low-Carbon Economy: The Financial Impact of the Low- Carbon Transition Climate Policy Initiative David Nelson Morgan Hervé-Mignucci Andrew Goggins Sarah Jo Szambelan Julia Zuckerman October 2014 CPI Energy Transition Series October 2014 The Financial Impact of the Low-Carbon Transition Descriptors Sector Renewable Energy Finance Region Global, United States, European Union, China, India Keywords Stranded assets, low-carbon, finance, renewable energy Contact David Nelson, [email protected] Acknowledgements The authors gratefully acknowledge input from expert reviewers, including Billy Pizer of Duke University, Karthik Ganesan of CEEW, Michael Schneider of Deutsche Bank, Nick Robins of UNEP, and Vikram Widge of the World Bank. The perspectives expressed in this paper are CPI’s own. We also thank our colleagues who provided analytical contributions, internal review, and publication support, including Ruby Barcklay, Jeff Deason, Amira Hankin, Federico Mazza, Elysha Rom-Povolo, Dan Storey, and Tim Varga. About CPI Climate Policy Initiative (CPI) works to improve the most important energy and land use policies around the world, with a particular focus on finance. We support decision makers through in-depth analysis on what works and what does not. CPI works in places that provide the most potential for policy impact including Brazil, China, Europe, India, Indonesia, and the United States. Our work helps nations grow while addressing increasingly scarce resources and climate risk. This is a complex challenge in which policy plays a crucial role. About this project The reports were commissioned by the New Climate Economy project as part of the research conducted for the Global Commission on the Economy and Climate.
    [Show full text]
  • Carbon Finance & Cattle Externalities in the Brazilian Amazon
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by OpenCommons at University of Connecticut University of Connecticut OpenCommons@UConn Honors Scholar Theses Honors Scholar Program Spring 5-9-2010 Carbon Finance & Cattle Externalities in the Brazilian Amazon: Pricing Reforestation in terms of Restoration Ecology Christian T. Hofer University of Connecticut - Storrs, [email protected] Follow this and additional works at: https://opencommons.uconn.edu/srhonors_theses Part of the Finance and Financial Management Commons Recommended Citation Hofer, Christian T., "Carbon Finance & Cattle Externalities in the Brazilian Amazon: Pricing Reforestation in terms of Restoration Ecology" (2010). Honors Scholar Theses. 166. https://opencommons.uconn.edu/srhonors_theses/166 Carbon Finance & Cattle Externalities in the Brazilian Amazon: Pricing Reforestation in terms of Restoration Ecology Undergraduate Thesis presented to the University of Connecticut Honors Program April 30, 2010 Christian Hofer School of Business, B.S. Finance Candidate Faculty Advisor: Robert J. Martel, Ph.D. Department of Economics Abstract This paper evaluates land-use conflict between cattle pasture and tropical rainforest in the Brazilian Amazon and attempts to reconcile negative production externalities within the framework of carbon finance. Specifically, it analyzes the price per metric ton of CO 2e that would make reforestation projects, in terms of restoration ecology, a viable land-use alternative. Regional information on opportunity, implementation, and transaction costs is used to develop a partial equilibrium cost-benefit analysis, in which carbon sequestration is the only benefit. Financing is employed through Kyoto’s Clean Development Mechanism and long-term certified emission reductions (lCERs) are the carbon financial instrument modeled.
    [Show full text]
  • Finance Guide for Policy-Makers: Renewable Energy, Green Infrastructure
    FINANCE GUIDE FOR POLICY-MAKERS: RENEWABLE ENERGY, GREEN INFRASTRUCTURE 2016 UPDATE Kirsty Hamilton, Low Carbon Finance Group, Chatham House and Ethan Zindler, Bloomberg New Energy Finance (BNEF) have written and produced this updated guide. Grateful acknowledgment for their insight and expertise is made to the following individuals, including practitioners from the Low Carbon Finance Group, BNEF and others, whose financial experience has been invaluable to understanding and translating finance practices and concepts, and identifying key elements of the investment environment relevant to policy-makers: Will Blyth, Andrew Buglass, Germana Canzi, Mike Clark, Catherine Craig, Anna Czajowska, Charlie Donovan, Felix Fallasch, Steven Fawkes, Antony Froggatt, Nick Gardiner, Mark Knox, Silvie Kreibiehl; Aleksi Lumijarvi, Seb Meaney, Ben Moxham, Liam O’Keeffe, Brian Potowski, Julian Richardson, Allison Robertshaw, Joe Salvatore, Martin Schoenberg, Virginia Sonntag O’Brien, Peter Sweatman, Ian Temperton, Mike Wilkins, Henning Wuester, Eugene Zhuchenko. First edition written and produced by Kirsty Hamilton and Sophie Justice, 2009. Kirsty Hamilton has more than 25 years’ experience in climate and energy policy. She initiated work with renewable energy finance practitioners in 2004, as an Associate Fellow at Chatham House, examining ‘investment grade’ policy, and then led the policy work of the Low Carbon Finance Group from 2010 to 2015. [email protected] Sophie Justice, PhD is a financial consultant with extensive international banking experience. August 2016 Bloomberg New Energy Finance Bloomberg New Energy Finance provides unique analysis, tools and data for decision-makers driving change in the energy system. BNEF helps clients stay on top of developments across the energy spectrum with a comprehensive web-based platform.
    [Show full text]
  • Pigouvian Principles of Externalities and Cap and Trade
    Pigouvian principles of externalities and cap and trade Remarks Delivered before 2014 A&WMA Conference October 29, 2014 Dr. Joseph R. Mason EPA ozone policy – and environmental policy, generally, is a mix of Pigouvian principles and policy objectives. But the combination of those can have unanticipated distortionary effects. To begin with, it is important to understand the economic nature of the problem of externalities. In the graph, the market equilibrium obtains at the intersection of marginal benefits and marginal costs. But with externalities, the marginal social cost is greater than the marginal personal cost, reflecting the fact that the externality affects others more than oneself. Since the marginal personal cost of the activity is lower than the social cost, more persons consume the good at a lower cost than if the two marginal costs were the same. 1 The policy issue, therefore, is how we price to the marginal social cost in order to reduce consumption. The solution originally offered by Arthur Pigou in his 1920 work The Economics of Welfare. In that work, Pigou recommended that consumption be taxed so that the price of the good rose, with the goal that the price and quantity of consumption reach P-star and Q-star, the non-externality equilibrium. In that case, the personal marginal cost would equal the social marginal cost so that the consumer would bear the full cost of the externality. The problem, of course, is that in order to use this framework for policy one must settle on Q-star and/or P-star in order to set the policy goal.
    [Show full text]
  • Report: a Green New Deal
    A Green New Deal Joined-up policies to solve the triple crunch of the credit crisis, climate change and high oil prices The first report of the Green New Deal Group This report is the fi rst publication of the Green New Deal Group. Meeting since early 2007, its membership is drawn to refl ect a wide range of expertise relating to the current fi nancial, energy and environmental crises. The views and recommendations of the report are those of the group writing in their individual capacities. The report is published on behalf of the Green New Deal Group by nef (the new economics foundation). The Green New Deal Group is, in alphabetical order: Larry Elliott, Economics Editor of the Guardian Richard Murphy, Co-Director of Finance for the Future and Director, Tax Research LLP Colin Hines, Co-Director of Finance for the Future, former head of Greenpeace International’s Ann Pettifor, former head of the Jubilee 2000 debt Economics Unit relief campaign, Campaign Director of Operation Noah Tony Juniper, former Director of Friends of the Earth Charles Secrett, Advisor on Sustainable Development, former Director of Friends of the Earth Jeremy Leggett, founder and Chairman of Solarcentury and SolarAid Andrew Simms, Policy Director, nef (the new economics foundation) Caroline Lucas, Green Party MEP The global economy is facing a ‘triple crunch’. It is a combination of a credit-fuelled financial crisis, accelerating climate change and soaring energy prices underpinned by an encroaching peak in oil production. These three overlapping events threaten to develop into a perfect storm, the like of which has not been seen since the Great Depression.
    [Show full text]
  • Finance, Sustainability and Negative Externalities. an Overview of the European Context
    sustainability Article Finance, Sustainability and Negative Externalities. An Overview of the European Context Magdalena Ziolo 1,*, Beata Zofia Filipiak 1, Iwona B ˛ak 2 , Katarzyna Cheba 2 , Diana Mihaela Tîrca 3 and Isabel Novo-Corti 4 1 Faculty of Economics and Management, University of Szczecin–Poland, 71 101 Szczecin, Poland 2 Faculty of Economics, West Pomeranian University of Technology Szczecin, 71-270 Szczecin, Poland 3 Faculty of Economics, “Constantin Brâncusi” University of Târgu-Jiu, 210185 Targu-Jiu, Romania 4 Economic Development and Social Sustainability Research Group (EDaSS), Department of Economics—Universidade da Coruña—Spain, Campus de Elviña, s/n, 15071 A Coruña, Spain * Correspondence: [email protected]; Tel.: +48-914442170 Received: 8 July 2019; Accepted: 30 July 2019; Published: 6 August 2019 Abstract: The goal of the paper is to examine the relation between finance and sustainability, with a special emphasis on the impact of negative externalities. Sustainable development as a concept aims to mitigate negative externalities. Conventional finance offers no room for the environment and society. Therefore, three-dimensional sustainable finance has appeared. This paper is the first original attempt to examine the relationship between: financial, economic, environmental and social development indicators from the sustainability perspective, with a special focus on externalities. To study the disparities between the European Union (EU) countries belonging to the OECD in the field of sustainable development and sustainable finance, the multi-criteria taxonomy was used. The basis of the analyses was the indicators transformed according to the relative taxonomy method. The database, based on Eurostat, contains indicators describing pillars of sustainable development such as: economic (12 indicators), social (28), environmental (7) and sustainable finance (16).
    [Show full text]
  • Green Finance for Low-Carbon Cities
    Green Finance for Low-Carbon Cities June 2016 Over its thirty years of reform and opening up, China has seen unprecedented economic growth, leading it to become the world’s second largest economy. But its extensive mode of growth, combined with poor protection of the environment, has resulted in grave problems: resource shortages, severe pollution and weakened ecosystems. There is an urgent need for a change in that mode of economic growth. As the world’s two largest economies, the United States and China play a Meanwhile China has, as a responsible power, committed as part of the critical role in confronting climate change. Both countries are taking action – Paris Agreement to bring carbon emissions to a peak in or around 2030 and in both countries, cities are helping to lead the way. and to strive to do so earlier if possible. Cities account for most of the world’s carbon emissions, but they are also It is clear that China needs to change its mode of growth and bring where the greatest progress is being made. But despite forward-thinking about a green, low-carbon transition: both to increase sustainable policies and support from the central government, they still face obstacles domestic demand under the new economic normal and to realize the to making the kinds of investments that both protect public health and commitments it has made as part of the international response to Michael R. improve the economy. climate change. Bloomberg This new report series, a product of the collaboration between Bloomberg Cities are the centers of economic activity, as well as the main consumers UN Secretary-General’s Philanthropies and the Green Finance Committee of China Society for of energy and emitters of greenhouse gases.
    [Show full text]
  • The Fiscal Implications of the Low-Carbon Transition
    2019 Greening heavy #GGSD and extractive 26 & 27 November OECD, Paris Forum industries Issue Paper Conference version The fiscal implications of the low-carbon transition Assia Elgouacem, Håvard Halland, Enrico Botta and Gurtegh Singh, OECD 2 | OECD GREEN GROWTH AND SUSTAINABLE DEVELOPMENT FORUM The GGSD Forum is an OECD initiative aimed at providing a dedicated space for multi-disciplinary dialogue on green growth and sustainable development. It brings together experts from different policy fields and disciplines and provides them with an interactive platform to encourage discussion, facilitate the exchange of knowledge and ease the exploitation of potential synergies. By specifically addressing the horizontal, multi-disciplinary aspects of green growth and sustainable development, the GGSD Forum constitutes a valuable supplement to the work undertaken in individual government ministries. The GGSD Forum also enables knowledge gaps to be identified and facilitates the design of new works streams to address them. AUTHORSHIP & ACKNOWLEDGEMENTS This issue note was prepared for the 2019 GGSD Forum to steer discussion around the theme of Session 1 on “Fiscal implications of the low-carbon transition”. This paper was drafted in collaboration with various OECD staff members. The first chapter was drafted by Assia Elgouacem, with inputs from Gurtegh Singh and Enrico Botta, all from the Environment Directorate. The second chapter was drafted by Håvard Halland, Senior Economist at the OECD’s Development Centre, and the third chapter was drafted by Enrico Botta and Gurtegh Singh. This paper benefited from support by the German Federal Ministry of Environment, Nature Conservation and Nuclear Safety (BMU). The opinions expressed herein do not necessarily reflect the official views of the OECD member countries.
    [Show full text]
  • Public Policies and Finance
    Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Finance Infrastructure Green LEADING INITIATIVES ANDRESEARCH LEADING INITIATIVES A WORLDBANKSTUDY Roberto LaRocca, andUrvakshD.Patel Aldo Baietti, AndreyShlyakhtenko, WORLD BANK STUDY Green Infrastructure Finance: Leading Initiatives and Research Aldo Baie i Andrey Shlyakhtenko Roberto La Rocca Urvaksh D. Patel ©2012 International Bank for Reconstruction and Development/The World Bank East Asia and Pacifi c Region/East Asia Infrastructure Unit (EASIN) 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org 1 2 3 4 15 14 13 12 All rights reserved World Bank Studies are published to communicate the results of the Bank’s work to the development community with the least possible delay. The manuscript of this paper therefore has not been prepared in accordance with the procedures appropriate to formally-edited texts. This volume is a joint publication of the staff of the International Bank for Reconstruction and Development/The World Bank and the Australian Agency for International Development (AusAID). The fi ndings, interpretations, and conclusions expressed in this volume do not necessarily refl ect the views of The World Bank, its Board of Executive Directors, the governments they represent, or AusAID. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judg- ment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright.
    [Show full text]