Climate Auctions: A Market-Based Approach to National Climate Action

doi:10.1596/31322

Publication:
Climate Auctions: A Market-Based Approach to National Climate Action

dc.contributor.author	World Bank Group
dc.date.accessioned	2019-02-25T17:44:31Z
dc.date.available	2019-02-25T17:44:31Z
dc.date.issued	2019
dc.description.abstract	With the Paris Agreement and most of its detailed rulebook now finalized, countries and subnational actors face the challenge of translating climate targets and strategies into action and determining how to finance these actions. Through the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF), the World Bank developed an innovative financial mechanism – climate auctions – which stimulates private investment in projects that reduce greenhouse gas emissions. Climate auctions offer price guarantees to companies that can deliver eligible climate results in the future. These price guarantees are allocated through a transparent, efficient auctioning process, which maximizes the climate impact of scarce public funds. In the near-term, countries can utilize climate auctions to spur significant investments in low-carbon activities and mobilize finance at the scale and pace necessary to achieve their national climate targets, laying the groundwork for longer-term carbon pricing and greater climate ambition. This policy brief is intended to inform policymakers and public funders about why climate auctions are an effective tool for achieving climate outcomes, focusing on how policymakers can utilize auctions to accelerate NDC implementation and raise climate ambition. It also outlines how climate auctions work and where they are most effective. The policy brief was produced by staff of the World Bank with external contributions from the Rocky Mountain Institute.	en
dc.identifier	http://documents.worldbank.org/curated/en/480311550853018431/Climate-Auctions-A-Market-Based-Approach-to-National-Climate-Action
dc.identifier.doi	10.1596/31322
dc.identifier.uri	https://hdl.handle.net/10986/31322
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	CLIMATE CHANGE
dc.subject	CARBON PRICING
dc.subject	NATIONALLY DETERMINED CONTRIBUTION
dc.subject	NDCs
dc.subject	GREENHOUSE GAS EMISSIONS
dc.subject	CLIMATE AUCTIONS
dc.subject	CLIMATE CHANGE MITIGATION
dc.subject	CLEAN DEVELOPMENT MECHANISM
dc.subject	ABATEMENT POLICIES
dc.subject	CARBON DIOXIDE EMISSIONS
dc.subject	CARBON POLICY
dc.title	Climate Auctions	en
dc.title.subtitle	A Market-Based Approach to National Climate Action	en
dc.type	Policy Note	en
dc.type	Document de politique générale	fr
dc.type	Documento de políticas	es
dspace.entity.type	Publication
okr.crossref.title	Climate Auctions
okr.date.disclosure	2019-02-22
okr.doctype	Economic & Sector Work::Policy Notes
okr.doctype	Economic & Sector Work
okr.docurl	http://documents.worldbank.org/curated/en/480311550853018431/Climate-Auctions-A-Market-Based-Approach-to-National-Climate-Action
okr.guid	480311550853018431
okr.identifier.doi	10.1596/31322
okr.identifier.externaldocumentum	090224b0869c1a21_1_0
okr.identifier.internaldocumentum	30853631
okr.identifier.report	134832
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/480311550853018431/pdf/134832-WP-PUBLIC-ClimateAuctionsAMarketBasedApproachtoClimateAction.pdf	en
okr.topic	Energy::Energy and Environment
okr.topic	Environment::Carbon Policy and Trading
okr.topic	Environment::Climate Change Mitigation and Green House Gases
okr.topic	Environment::Climate Change and Environment
okr.topic	Environment::Environmental Economics & Policies
okr.unit	GCC- Carbon Markets & Innovation (GCCMI)