International shipping has finally set a target to reduce its CO 2 emission by at least 50% by 2050. Despite this positive progress, this target is still not sufficient to reach Paris Agreement goals since CO 2 emissions from international shipping could reach 17% of global emissions by 2050 if no measures are taken. A key factor that hampers the achievement of Paris goals is the knowledge gap in terms of what level of decarbonization it is possible to achieve using all the available technologies. This paper examines the technical possibility of achieving the 1.5 • goal of the Paris Agreement and the required supporting policy measures. We project the transport demand for 6 ship types (dry bulk, container, oil tanker, gas, wet product and chemical, and general cargo) based on the Organization for Economic Cooperation and Development's (OECD's) global trade projection of 25 commodities. Subsequently, we test the impact of mitigation measures on CO 2 emissions until 2035 using an international freight transport and emission model. We present four possible decarbonization pathways which combine all the technologies available today. We found that an 82-95% reduction in CO 2 emissions could be possible by 2035. Finally, we examine the barriers and the relevant policy measures to advance the decarbonization of international maritime transport.
Intergovernmental grants are used in many countries to finance subnational spending and to implement national policies. However, the governance of grants is complex, and practices vary widely across OECD countries. The aim of this article is to provide a study of grant design that will be useful to policy makers. The article attempts to integrate both theoretical and empirical insights from the fiscal federalism literature as well as information obtained directly from practitioners concerning their experiences with the implementation of different types of grants. A typology of grants is presented, as well as an overview of the purposes of grants. The article concludes with some principles of grant design and implementation issues.
This paper presents an overview of practices and challenges related to financing green sustainable cities. Cities are essential actors in stimulating green infrastructure; and urban finance is one of the promising ways in which this can be achieved. Cities are key investors in infrastructure with green potential, such as buildings, transport, water and waste. Their main revenue sources, such as property taxes, transport fees and other charges, are based on these same sectors; cities thus have great potential to -green‖ their financial instruments. At the same time, increased public constraints call for a mobilisation of new sources of finance and partnerships with the private sector. This working paper analyses several of these sources: public-private partnerships, tax-increment financing, development charges, value-capture taxes, loans, bonds and carbon finance. The challenge in mobilising these instruments is to design them in a green way, while building capacity to engage in real co-operative and flexible arrangements with the private sector.
Norway is a prosperous country with a healthy economy and a very high standard of living. Norway provides a truly unique example of long-term budgetary planning through its successful management of oil assets by means of the Government Pension Fund – Global. This article examines the annual budget process which is an important factor in the health of Norway’s public finances. The cabinet has a central role in formulating the budget via the annual budget conferences. Parliament has a strong formal position, and the Ministry of Finance has a long tradition of providing objective and unbiased information to Parliament. The article also describes the high degree of managerial flexibility, the system of accountability for results, human resource management, financial management and reporting, the use of performance information, and the role of local and regional governments.
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