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In 2003 the European Commission introduced the EC Directive on the energy performance of buildings in recognition of the importance of energy savings in the urban housing stock. The Directive gives the member states freedom to design the different elements in practice. The energy certificate for existing buildings demanded by the EC Directive can be used as a communicative instrument, or combined with economic or regulatory principles. The authors discuss the anticipated efficiency and effectiveness of different policy approaches in the application of the EC energy certificate for the urban housing stock. They argue that, although energy certificates as a communication instrument for household appliances have appeared to be relatively successful, the different nature of the building sector may mean that their effectiveness here will be rather limited. The combination of energy certificates with tax schemes seems promising, but will have to be coupled with general income taxes or in housing-related taxes in order to prevent regressive social effects. Combination of the energy certificate with subsidies should be limited, because of the ‘free-rider effect’, and subsidies should only cover innovative products at the beginning of their ‘learning curve’. Effective results can probably be expected from the introduction of regulations combined with energy-certificate standards, but this requires a rather drastic approach and needs time to receive sufficient commitment, as has been the case for new buildings where there has been a gradual development of energy regulations over the last thirty years. However, an introduction of energy standards for the existing urban housing stock through the EC energy certificate offers great potential in the realisation of CO2 reductions. The introduction of an energy standard, by means of the energy certificate in combination with progressive taxes or other economic measures to reward better and punish worse energy-performance levels, seems an interesting approach that needs further research.

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The paper presents the results of an ex-ante evaluation of the economy-wide benefits that may be achieved through the implementation of the 20-year Energy Efficiency Action Plan (EEAP) in Thailand. The objective of the EEAP is to reduce energy intensity by 25 % in 2030 compared to 2010. This is to be reached by reducing the projected energy consumption by 20 % or 38 Mtoe until 2030. We have specified an analytical framework, which allows for a calculation of the overall energy cost savings, energy import cost reductions and reduced CO 2 emissions. Moreover, we calculated the induced energy efficiency investments, employment effects and impacts on governmental budget. The evaluation shows that an effective implementation of the plan may lead to a reduction in energy expenditure of 37.7 billion EUR by 2030. Moreover, the EEAP-induced energy savings will significantly reduce the greenhouse gas emissions as well as Thailand's energy import costs and generate private investment in energy efficiency of about 5 billion EUR annually in 2030, which in turn may lead to about 300,000 new jobs. The size of the net impact of the plan on Thailand's governmental budget is uncertain due to positive and negative effects on corporate and income tax revenues, expenses for unemployment benefits, governmental energy consumption, expenses for energy subsidies and energy tax income.

The Economic and Social Commission for Asia and the Pacific is the regional development arm of the United Nations and serves as the main economic and social development centre for the United Nations in the region. Its mandate is to foster cooperation between its 53 members and 9 associate members. ESCAP provides the strategic link between the global and country-level programmes and issues. It supports governments in consolidating regional positions and advocates regional approaches to meeting the unique socioeconomic challenges in a globalizing world. The ESCAP office is located in Bangkok. The Asian Development Bank's vision is an Asia and Pacific region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their people. Despite the region's many successes, it remains home to a large share of the world's poor. ADB is committed to reducing poverty through inclusive economic growth, environmentally sustainable growth and regional integration. Based in Manila, ADB is owned by 67 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants and technical assistance. The United Nations Development Programme works in about 170 countries and territories, helping to achieve the eradication of poverty, and the reduction of inequalities and exclusion. We help countries to develop policies, leadership skills, partnering abilities, institutional capabilities and build resilience in order to sustain development results. Transformation towards sustainable and resilient societies in Asia and the Pacific Transformation towards sustainable and resilient societies in Asia and the Pacific