Cash Transfers in the Context of Energy Subsidy Reform
Energy subsidies, which have a long history of use by governments around the world, have been rising in recent years after a brief period of decline. Despite their significant wider costs, subsidies are used by governments for various policy, and political, reasons. Faced with recent external shocks, governments around the world have had to manage difficult tradeoffs between the need to protect their citizens against substantial increases in the cost of living and the fiscal risks that greater and continued subsidies impose. General consumption subsidies, such as universal price subsidies for fossil fuels, tend to be regressive. Over the past several decades, as part of the evolving understanding of energy subsidy reforms, there has been growing recognition of the potential of targeted cash transfers to support the poor and vulnerable to help governments achieve desired policy outcomes at lower fiscal cost and in a sustainable manner. The use of cash transfers to mitigate the impact of price increases from an energy subsidy reform puts a country’s social protection framework in the spotlight, along with the role social protection can play in bolstering national commitments to reduce greenhouse gas (GHG) emissions. While getting prices right is important in eliminating distortions and incentivizing efficient use of energy, cash transfers can help countries mitigate and adapt to climate change and make the transition to a green economy by smoothing the adjustment to changing energy costs.
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Format: | Technical Report biblioteca |
Language: | English en_US |
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Washington, DC: World Bank
2023-06-30
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Subjects: | ENERGY SUBSIDIES, SOCIAL ASSISTANCE, DOMINICAN REPUBLIC, UKRAINE, COMPENSATORY TRANSFERS, FOSSIL FUELS, |
Online Access: | http://documents.worldbank.org/curated/en/099062923170018606/P17658505cf5310870baf305828791be2a8 https://openknowledge.worldbank.org/handle/10986/39948 |
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dig-okr-10986399482024-05-31T19:28:18Z Cash Transfers in the Context of Energy Subsidy Reform Insights from Recent Experience Mukherjee, Anit Okamura, Yuko Gentilini, Ugo Gencer, Defne Almenfi, Mohamed Kryeziu, Adea Montenegro, Miriam Umapathi, Nithin ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS Energy subsidies, which have a long history of use by governments around the world, have been rising in recent years after a brief period of decline. Despite their significant wider costs, subsidies are used by governments for various policy, and political, reasons. Faced with recent external shocks, governments around the world have had to manage difficult tradeoffs between the need to protect their citizens against substantial increases in the cost of living and the fiscal risks that greater and continued subsidies impose. General consumption subsidies, such as universal price subsidies for fossil fuels, tend to be regressive. Over the past several decades, as part of the evolving understanding of energy subsidy reforms, there has been growing recognition of the potential of targeted cash transfers to support the poor and vulnerable to help governments achieve desired policy outcomes at lower fiscal cost and in a sustainable manner. The use of cash transfers to mitigate the impact of price increases from an energy subsidy reform puts a country’s social protection framework in the spotlight, along with the role social protection can play in bolstering national commitments to reduce greenhouse gas (GHG) emissions. While getting prices right is important in eliminating distortions and incentivizing efficient use of energy, cash transfers can help countries mitigate and adapt to climate change and make the transition to a green economy by smoothing the adjustment to changing energy costs. 2023-06-30T13:50:32Z 2023-06-30T13:50:32Z 2023-06-30 Technical Report http://documents.worldbank.org/curated/en/099062923170018606/P17658505cf5310870baf305828791be2a8 https://openknowledge.worldbank.org/handle/10986/39948 English en_US Energy Subsidy Reform in Action Series. ESMAP Technical Report CC BY 3.0 IGO https://creativecommons.org/licenses/by/3.0/igo/ World Bank application/pdf text/plain Washington, DC: World Bank |
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English en_US |
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ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS |
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ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS Mukherjee, Anit Okamura, Yuko Gentilini, Ugo Gencer, Defne Almenfi, Mohamed Kryeziu, Adea Montenegro, Miriam Umapathi, Nithin Cash Transfers in the Context of Energy Subsidy Reform |
description |
Energy subsidies, which have a long
history of use by governments around the world, have been
rising in recent years after a brief period of decline.
Despite their significant wider costs, subsidies are used by
governments for various policy, and political, reasons.
Faced with recent external shocks, governments around the
world have had to manage difficult tradeoffs between the
need to protect their citizens against substantial increases
in the cost of living and the fiscal risks that greater and
continued subsidies impose. General consumption subsidies,
such as universal price subsidies for fossil fuels, tend to
be regressive. Over the past several decades, as part of the
evolving understanding of energy subsidy reforms, there has
been growing recognition of the potential of targeted cash
transfers to support the poor and vulnerable to help
governments achieve desired policy outcomes at lower fiscal
cost and in a sustainable manner. The use of cash transfers
to mitigate the impact of price increases from an energy
subsidy reform puts a country’s social protection framework
in the spotlight, along with the role social protection can
play in bolstering national commitments to reduce greenhouse
gas (GHG) emissions. While getting prices right is important
in eliminating distortions and incentivizing efficient use
of energy, cash transfers can help countries mitigate and
adapt to climate change and make the transition to a green
economy by smoothing the adjustment to changing energy costs. |
format |
Technical Report |
topic_facet |
ENERGY SUBSIDIES SOCIAL ASSISTANCE DOMINICAN REPUBLIC UKRAINE COMPENSATORY TRANSFERS FOSSIL FUELS |
author |
Mukherjee, Anit Okamura, Yuko Gentilini, Ugo Gencer, Defne Almenfi, Mohamed Kryeziu, Adea Montenegro, Miriam Umapathi, Nithin |
author_facet |
Mukherjee, Anit Okamura, Yuko Gentilini, Ugo Gencer, Defne Almenfi, Mohamed Kryeziu, Adea Montenegro, Miriam Umapathi, Nithin |
author_sort |
Mukherjee, Anit |
title |
Cash Transfers in the Context of Energy Subsidy Reform |
title_short |
Cash Transfers in the Context of Energy Subsidy Reform |
title_full |
Cash Transfers in the Context of Energy Subsidy Reform |
title_fullStr |
Cash Transfers in the Context of Energy Subsidy Reform |
title_full_unstemmed |
Cash Transfers in the Context of Energy Subsidy Reform |
title_sort |
cash transfers in the context of energy subsidy reform |
publisher |
Washington, DC: World Bank |
publishDate |
2023-06-30 |
url |
http://documents.worldbank.org/curated/en/099062923170018606/P17658505cf5310870baf305828791be2a8 https://openknowledge.worldbank.org/handle/10986/39948 |
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