Approximately 70 per cent of fossil fuel resources worldwide are owned or controlled by governments, and decisions made today regarding long-lived strategic public infrastructure assets – often in the energy or transport sectors – will influence economic growth models for decades.
The EBRD has developed a study that analyses how climate change policies can affect the national accounts of governments and especially the impact they have on the value of energy and infrastructure assets and the cash-flows linked to them.
This short paper was prepared for the event, ‘Climate change policies: the fiscal implications’, held at COP21 in Paris on 10 December 2015. A summary
is also available.