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The System Of Green Certificates - Promoter Of Energy From Renewable Resources


  • Leontina Pavaloaia

    (‘Alexandru Ioan Cuza‘ University of Iasi Romania)

  • Iuliana Georgescu

    (‘Alexandru Ioan Cuza‘ University of Iasi Romania)


The traditional economic development aims at customer satisfaction and profitsmaximization, but overused the natural resources. Therefore, it becomes a necessity to take intoaccount the social and environmental aspects. In order to ensure sustainable development, it havebeen adopted numerous rules and regulations which set objectives and targets aiming to reduceemissions and contributing to a responsible behavior. One of the objectives set at EU level is to ensurethat sustainable development is the use of renewable resources in the production of electricity. Inorder to encourage the use of renewable energy sources for energy production it applied a system ofpromotion throughout green certificates, which aims, among other goals, to reduce imports ofprimary energy resources, stimulate the local and regional sustainable development, createemployment throughout new jobs, reduce the environmental pollution by minimizing emissions. Inthis paper we intend to analyze the tools used in Romania for the purpose of promoting the productionof energy from renewable sources, the green certificates market, the share of renewable energy ingross inland consumption, the fulfillment degree of the target and their reflection in the annualfinancial statements of energy production companies listed on the Bucharest Stock Exchange.

Suggested Citation

  • Leontina Pavaloaia & Iuliana Georgescu, 2014. "The System Of Green Certificates - Promoter Of Energy From Renewable Resources," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(16), pages 1-16.
  • Handle: RePEc:alu:journl:v:1:y:2014:i:16:p:16

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    More about this item


    green certificate; renewable energy sources; sustainable development;

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth


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