A Tale of Two Transitions: Iraq’s Energy Sector and Macroeconomic Stability in a Climate-Constrained World

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dc.contributor.authorAhmad, Ali
dc.contributor.authorBui,Thanh Thi Thanh
dc.contributor.authorQaradaghi,Mohammed
dc.contributor.authorMansour,Wael
dc.date.accessioned2023-03-28T19:23:47Z
dc.date.available2023-03-28T19:23:47Z
dc.date.issued2023-03-28
dc.description.abstractThis paper assesses the costs and benefits of Iraq’s own energy transition from fossil fuel dependent power sector to one with a significantly higher share of renewables amid an accelerating global energy transition. The paper quantifies the returns of Iraq’s energy transition, its high exposure to the global energy transition due to the deep role of oil revenues in the provision of public finances, and the policy tradeoffs associated with moving towards a greener energy mix. The analysis finds that all decarbonization pathways of the electricity sector bring additional growth and productivity gains compared to maintaining the status-quo, albeit at different levels of cost effectiveness. However, all pathways (including existing GoI plans) are fiscally costly given the required upfront levels of capex and the subsidy. This cost could prove to be fiscally steep in deep decarbonization scenarios especially if the transition is fully financed by the public budget. Consequently, the success of the energy transition in Iraq will largely depend on the political context and on the ambition of a GoI-led reform process that can overcome any socio-political vested interest. It will also require popular understanding and support for the urgency of this transition.en
dc.identifierhttp://documents.worldbank.org/curated/en/099651403142334278/IDU0756d977b0a4bb043aa0a6fd04abc93d2d488
dc.identifier.doi10.1596/39608
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39608
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectENERGY TRANSITION
dc.subjectRENEWABLE ENERGY
dc.subjectMACROECONOMIC STABILITY
dc.subjectCLIMATE CHANGE
dc.titleA Tale of Two Transitionsen
dc.title.subtitleIraq’s Energy Sector and Macroeconomic Stability in a Climate-Constrained Worlden
dc.typeWorking Paper
okr.crossref.titleA Tale of Two Transitions: Iraq’s Energy Sector and Macroeconomic Stability in a Climate-Constrained World
okr.date.disclosure2023-03-28
okr.date.lastmodified2023-03-16T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099651403142334278/IDU0756d977b0a4bb043aa0a6fd04abc93d2d488
okr.guid099651403142334278
okr.identifier.externaldocumentum34021405
okr.identifier.internaldocumentum34021405
okr.identifier.report180831
okr.import.id286
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099651403142334278/pdf/IDU0756d977b0a4bb043aa0a6fd04abc93d2d488.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryIraq
okr.topicEnergy::Energy and Environment
okr.topicEnergy::Renewable Energy
okr.unitMNA Regional Director (SMNDR)
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