Français
Graphic
Monday 21 November 2016

Carbon credits: think local !

One of the possible financial incentives to foster low-carbon economies is pricing carbon and regulating its quantity through a carbon emissions trading system (ETS). In the European Union, the current system launched in 2005 has generated revenues, but much less than expected for several reasons: the carbon price is hovering around a very low €5/t, and too many permits to pollute have been given away to high-carbon industries.

In most European countries, local authorities and their citizens have not seen a cent from the ETS revenues. Instead, many carbon intensive industries have benefited from the over-subsiding of carbon pollution through the ETS. This is the case in Germany, where industries made a €4.5 billion profit between 2008 and 2014, according to a recent study by the environmental consultancy CE Delft and the Oeko-Institut.
Carbon impacts are strongly felt in urban areas, as air quality decreases and the environment suffers – not to mention the long-term consequences of climate change. It is an absolute necessity that revenues from ETS or carbon taxes benefit the local level, in order to absorb the social impact of carbon and boost the local energy transition.
The idea is somewhat new, but there are already flagship examples of how carbon credits can be invested locally. They are easily replicable and have already provided tangible benefits to cities.

In Bucharest, CO2 emissions serve for... CO2 reduction measures!

The Romanian government spends around 70% of the income it receives from the EU ETS on climate action projects. Between 2013 and 2014, this accounted for €260 million. In the next four years, Romania expects to collect up to a further €2 billion from the system to lay the path towards a low-carbon and resilient economy.
Some of the carbon credits have helped Bucharest, the Romanian capital, pay for new bike lanes and metro improvements. Now, the city is home to 122 km of cycle paths and four metro lines with 45 stations. This number is bound to increase, as Bucharest wants to encourage its citizens to shift to clean transportation modes. Currently, only 1% of people in Bucharest use bikes and about 16% use the metro.



More examples and details on our 3D vision in the last Energy Cities INFO










by Béatrice Alcaraz on 21 November 2016 / 648 visits




Related articles for Financing & Economy / Financement & Economie

New EU decision lifts key barrier to investing in energy efficiency projects
by David Donnerer on 21 September 2017 /


Financer votre PAEDC: formation en peer-to-peer avec le projet Prospect
by Blandine Pidoux on 6 septembre 2017 /


How to finance your SECAP: EU-wide peer-to-peer learning with PROSPECT
by Blandine Pidoux on 6 September 2017 /


Energy Cities publie une étude pan-européenne sur la remunicipalisation et réappropriation locale de l’énergie
by Alix Bolle on 22 juin 2017 /


Energy Cities launches pan-European study on remunicipalisation and local energy ownership
by Alix Bolle on 22 June 2017 /


Horizon 2020 et Villes Intelligentes: Nos recommandations pour le programme de travail 2018-2020
by David Donnerer on 17 mai 2017 /


Horizon 2020 and Smart Cities: Our recommendations for the work-programme 2018-2020
by David Donnerer on 17 May 2017 /


#Stuttgart2017 Final programme online!
by Blandine Pidoux on 31 March 2017 /


Just released! Two new guidebooks on financing the energy renovation of public and residential buildings
by Blandine Pidoux on 21 February 2017 /


EU Emission Trading System: European Parliament puts a cap on local investments in "Modernisation Fund"
by David Donnerer on 23 January 2017 /


Carbon credits: think local !
by Béatrice Alcaraz on 21 November 2016 /


Guest Article - "Energising the Sustainable Economy", by Andrea Crump (London Borough of Sutton)
by on 15 November 2016 /


Le prêt vert bruxellois : une autre incitation pour encourager les citoyens de Bruxelles à rénover leur logement
by Béatrice Alcaraz on 18 octobre 2016 /


The Brussels Green Loan: another incentive encouraging Brussels citizens to energy retrofit their homes
by Jana Cicmanova on 11 October 2016 /


Riga met en place un dispositif de soutien pour la rénovation de 6 000 logements
by Floriane Cappelletti, Jana Cicmanova on 1er juillet 2016 /


Riga to support the energy renovation of 6,000 houses
by Jana Cicmanova on 1 July 2016 /


Efficacité énergétique et financement ESCO à Niš
by David Donnerer on 15 juin 2016 /


Energy Efficiency and ESCO financing: Niš LE(A)DS the way
by David Donnerer on 15 June 2016 /


Le Fonds Climat d'Almada devient renouvelable
by Floriane Cappelletti on 7 juin 2016 /


Almada's Less Carbon Climate Fund becomes revolving
by Jana Cicmanova on 7 June 2016 /


The Udine Climate Fund: another step towards a sustainable energy city
by Jana Cicmanova on 23 May 2016 /


#Bornova2016 - Remunicipalising energy services: why and how?
by Floriane Cappelletti on 6 May 2016 /


Marché européen de quotas d'émissions : Nos 5 recommandations pour une utilisation judicieuse du "Fonds de Modernisation'
by Béatrice Alcaraz, David Donnerer on 19 avril 2016 /


A Stuttgart, les propriétaires de maisons individuelles peuvent bénéficier d'un pack rénovation "clé-en-main"
by Floriane Cappelletti on 31 mars 2016 /


In Stuttgart, private home owners can enjoy 'care-free' energy renovation package
by Floriane Cappelletti on 31 March 2016 /


Energy-renovation of houses : In Bordeaux Metropole, 85% of households fit requirements for a dedicated bank loan !
by Floriane Cappelletti on 17 March 2016 /


Rénovation énergétique du secteur résidentiel : à Bordeaux Métropole, 85% des foyers sont éligibles pour un prêt dédié !
by Floriane Cappelletti on 17 mars 2016 /


UK cities react against the government attack on their freedom to divest
by on 19 February 2016 /


La ville portugaise d'Águeda crée un Fonds local pour l'Efficacité Energétique et la Gestion de l'Eau
by Floriane Cappelletti on 11 février 2016 /


Portuguese city of Águeda sets up a local Fund for Energy and Water Efficiency
by Jana Cicmanova on 11 February 2016 /


Koprivnica crée le premier fonds renouvelable pour l'énergie de Croatie
by Floriane Cappelletti on 28 janvier 2016 /


Croatia's first local energy revolving fund is in Koprivnica!
by Jana Cicmanova on 28 January 2016 /


Frederikshavn, Danemark : Mobiliser l'épargne qui "dort" sur les comptes en banque des citoyens
by Floriane Cappelletti on 13 janvier 2016 /


Frederikshavn, Denmark: Mobilising savings ‘sleeping’ on citizens’ bank accounts
by Jana Cicmanova on 13 January 2016 /


Encourager les investissements au niveau local : analyse de projets ELENA-BEI dans Paris, Malmö, Barcelone, Bristol et la Région Bruxelles-Capitale
by Floriane Cappelletti on 8 juillet 2015 /


Unlocking investments in cities: Review of ELENA-EIB projects in Barcelona, Bristol, Malmö, Paris and Brussels-Capital Region
by Floriane Cappelletti on 8 July 2015 /


Financer l’énergie durable : comment s’y retrouver dans le labyrinthe européen
by Béatrice Alcaraz on 23 juin 2015 /


Financing sustainable energy: Finding your way
by Béatrice Alcaraz on 23 June 2015 /


La transition énergétique, véritable cocktail vitaminé pour l’économie locale !
by Floriane Cappelletti on 18 juin 2015 /


Energy transition, a true vitamin cocktail for the local economy!
by Floriane Cappelletti on 18 June 2015 /


Villes résilientes #3 : Développer de nouvelles approches financières
by Floriane Cappelletti on 1er juin 2015 /


Resilient cities #3: Developing new financing approaches
by Floriane Cappelletti on 1 June 2015 /


La BEI devrait accorder plus d'importance à l'efficacité énergétique et aux renouvelables au niveau local
by Floriane Cappelletti on 23 mars 2015 /


EIB should increase its focus on energy efficiency and renewables at local level
by Admin on 19 mars 2015 /


Le rapport de l'EEFIG identifie des moyens d'augmenter les investissements dans l'efficacité énergétique
by Floriane Cappelletti on 28 février 2015 /


EEFIG report identifies ways to drive new finance for energy efficiency investments
by Floriane Cappelletti on 27 February 2015 /


Le nouveau guide de la Convention des Maires aide les villes à identifier des opportunités de financement de leurs projets d'énergie durable
by Floriane Cappelletti on 5 février 2015 /


New Covenant of Mayors guide helps cities identify suitable funding opportunities for sustainable energy
by Floriane Cappelletti on 5 February 2015 /




The team

Blog Categories
Line
Last posts
Line
Archives
separator
You are here: Energy Cities, Local authorities in energy transition. > English > Blog

About us
In a nutshell
Governance
Members
Team
Jobs
Internships
Contact
EU Policy
Join
How to join
Why we joined
Actions
Initiatives & Campaigns
Projects
Workshops
Webinars
Annual Conferences
Study Tours
Resources
Energy transition: our proposals
Best practices from members
Publications
EC INFO Magazine
Newsletter
Blog
Media
Press releases
Articles
Communication tools

 
Addresses Energy Cities - Besançon Energy Cities - Bruxelles