Making Romania Fit and Resilient for the Net-Zero Transition

Romania is on track to become ‘fit for 55’—reducing its absolute emissions by 55 percent (relative to 1990) by 2030, consistent with the European Green Deal. However, becoming carbon-neutral by 2050 in an economically resilient and competitive manner would require an accelerated
READ MORE...
Volume/Issue: Volume 2023 Issue 063
Publication date: December 2023
ISBN: 9798400263736
$15.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
paperback else
pdf else
epub else
English
Prices in red indicate formats that are not yet available but are forthcoming.
Summary

Romania is on track to become ‘fit for 55’—reducing its absolute emissions by 55 percent (relative to 1990) by 2030, consistent with the European Green Deal. However, becoming carbon-neutral by 2050 in an economically resilient and competitive manner would require an accelerated decarbonization path, especially in the transport and building sectors—two emission-intensive sectors that are projected to raise Romania’s carbon footprint over time. The analysis presented in this paper shows that complementing the existing decarbonization measures with further national carbon pricing instruments in these sectors could put Romania on track to carbon neutrality. Crucially, these complementary measures would incentivize green private investment and boost energy security, while enhancing Romania’s resilience and unlocking its potential in the global green value chains.