Decarbonising Romania’s economy

Ivana Capozza

No 1812, OECD Economics Department Working Papers from OECD Publishing

Abstract: Romania’s clean energy transition needs to accelerate for the country to decarbonise its economy by mid-century. Following an impressive decline from the early 1990s, emissions of greenhouse gases have stopped falling in recent years. Fossil fuel dependence, an increasing and ageing vehicle fleet and poorly insulated buildings increase energy use and carbon intensity. Moving away from fossil fuels in Romania calls primarily for more renewables; shifting to electricity in transport and buildings; substantial energy savings; and improved transport systems. This paper identifies policies that would help bring about these changes cost effectively, while minimising the socio-economic impact of the transition and contributing to improving people’s quality of life. The policy package should include institutional reforms and public investment, regulatory changes, financial support and consistent price signals to encourage private abatement actions. Measures to alleviate the impact of the net-zero transition on vulnerable communities and to adapt to climate change are also required.

Keywords: carbon pricing; clean energy transition; climate policy; energy efficient buildings; energy taxes and subsidies; environment; just transition; Romania; sustainable transport (search for similar items in EconPapers)
JEL-codes: H23 H30 O13 O18 Q32 Q41 Q42 Q43 Q48 Q54 Q58 R11 R41 R48 (search for similar items in EconPapers)
Date: 2024-07-25
New Economics Papers: this item is included in nep-ene, nep-env and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:1812-en

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