natgillin/translations-raw huggingface dataset:
The question that rises at this point is did the installation operators “over-blow” their own needs in the beginning. 
Glavni razlog za primjenu tih dviju metoda bila je želja da se osigura što je moguće točnije raspodjela dozvola za zagađivanje.
• Allocation methods for emissions allowances: as we have already mentioned, Slovenia used a combination of two methods - grandfathering and benchmarking. 
Metoda polazišta primijenjena je samo za industrijski sektor, i to za raspodjelu na razini postrojenja, dok u energetskom sektoru nije uopće upotrijebljena.
Benchmarking is only used for the industry sector at the installation level, while it was not used for the energy sector. 
Posljedica takve nejednake raspodjele dozvola za zagađivanje jest mnogo veći broj dozvola dodijeljenih energetskom nego industrijskom sektoru uspoređujući prema povijesnim razinama zagađivanja.
5 The Kyoto Protocol and its target costs 
5. Protokol iz Kyota i trošak postizanja zadanih ciljeva
In accordance with EU guidelines for establishing the national allocation plan, the 
U skladu sa smjernicama EU, pri stvaranju nacionalnog plana raspodjele dozvola za
total potential for reducing GHG emissions should also be considered. 
zagađivanje trebalo je također razmotriti ukupni potencijal za smanjenje stakleničkih plinova.
The total potential for reducing GHG emissions is estimated to be 4.5 million thousand tons CO2 equivalent in the period 2008-2012. 
Taj je potencijal za smanjenje stakleničkih plinova procijenjen na 4,5 milijuna tona ekvivalenta CO2 u razdoblju od 2008. do 2012.
It has been estimated that 1.7 million tons CO2 equivalent could come from the first 
Procijenjeno je da bi doprinos od 1,7 milijuna tona ekvivalenta CO2 mogao biti rezul
group of contributors (e.g. switching from coal to natural gas with the liberalization of the energy markets, emissions standards, CO2 tax, purchase of more efficient motor vehicles, etc., where specific annual reduction costs for GHG emissions are under 5 EUR/t CO2 equivalent). 
tat primjene prve skupine mjera (npr. zamjene ugljena prirodnim plinom liberalizacijom energetskog tržišta, uvođenja standarda zagađivanja, poreza na CO2, kupnje učinkovitijih motornih vozila itd., pri čemu su specifični godišnji troškovi smanjenja razine zagađivanja stakleničkim plinovima niži od 5 EUR/t ekvivalenta CO2).
Not only will the cheapest measure be used, but the combination of different measures as well. 
Stvarni će troškovi zapravo ovisiti o stvarno postignutom smanjenju razine zagađivanja stakleničkim plinovima i o tržišnoj cijeni dozvola.
Lowest costs used potential considered price in EUR/t CO2 eq. 
Potencijal (u tis. tona ekvivalenta CO2)
Actual GHG emissions reduction will, of course, depend on the efficient implemen 
Dvije mjere koje se smatraju najskupljima (njihov specifičan godišnji trošak prela
Reduction potential (in thousand tons CO2 eq.) 
Redukcijski potencijal (u tis. tona ekvivalenta CO2)
Switching from coal to natural gas, new small hydro and wind power stations Industry and construction Increasing the energy efficiency, co-generation, switching fuels with low carbon content 
zamjena ugljena prirodnim plinom, nove male hidroelektrane i elektrane na vjetar industrija i graditeljstvo povećanje učinkovitosti korištenja energije, kogeneracija energije, prijelaz na goriva s niskim udjelom ugljika
Higher energy efficiency of vehicles, higher importance of public transport 
viša energetska učinkovitost vozila, veća važnost javnog prijevoza
Other sectors (households) Heat protection for buildings, efficient heating systems 
ostali sektori (kućanstva) toplinska zaštita zgrada, učinkoviti sustavi grijanja
Adopting the IPPC directive, reducing the HFC/PFC as a cooling substance 
usvajanje IPPC smjernice, smanjenje upotrebe HFC/PFC plinova za rashlađivanje
Increasing the intensity of breeding, reduction of nitrogen fertilizers 
povećanje intenziteta uzgoja, smanjenje upotrebe dušičnih gnojiva
Sanitation of existing, and building of new, garbage dumps in accordance with EU standards 
sanacija postojećih i izgradnja novih odlagališta za smeće u skladu sa standardima EU
TOTAL Source: MOPE (2003) 
ukupno Izvor: MOPE (2003)
Murks: The Long Road from Ljubljana to Kyoto: Implementing Emission Trading 
To su Mehanizam čistog razvoja (CDM) i Udružena provedba (JI).
It is very interesting to observe how emissions trading on European markets is grad 
Prethodna iskustva s kretanjem cijena na tržištu dozvola za zagađivanje vrlo su različi
The Commission decided that these two countries must reduce the allocation if they want their NAPs to be approved. 
Drugo, kiša i brzina vjetra utječu na proizvodnju struje iz čistih izvora i tako utječu na razinu zagađivanja.
Quantity (inthousand tons) 
Količina (u tis. tona)
Index Qt/Qt-1 
Indeks Qt/Qt-1
Total forecast 2005 Actual 2005 
ukupno, prognoza 2005. stvarno 2005.
Vipap Videm Krško 
Slovenske Železarne Acroni
Total allowances in thuosand tons 
Ukupne dozvole (u tis.)
Share of total allowances, in % 
Udio ukupnih dozvola (u %)
Source: UL RS (112/04; 131/04). 
Izvor: UL RS (112/04; 131/04)
However, power stations are the ones that do not see a lot of possibilities for the re 
Ipak, u slovenskim se elektranama ne vide velike mogućnosti smanjenja razine zagađi
The first problem is coal, which is used by thermal power plants. 
Prvi je problem ugljen, koji se rabi u termoelektranama.
Coal is one of the biggest burdens for the environment, especially when it is used in old power plants. 
Ugljen je jedan od najvećih opterećenja za okoliš, osobito u starijim elektranama.
Slovenian coal, which is used by power plants, is of very low quality and low energy value. 
Slovenski ugljen na koji rade elektrane vrlo je niske kvalitete i niske energetske vrijednosti.
On the other hand, high-quality coal, which could be imported from abroad, is not suitable for use in old (out-of-date) boilers. 
Osim toga, visokokvalitetni ugljen koji bi se mogao uvoziti iz inozemstva nije prikladan za upotrebu u zastarjelim kotlovnicama.
If some technological movements will be made in the energy sector, the allocated quantity of allowances would also assure an adequate volume of production. 
Ako se ostvare neki tehnološki pomaci u energetskom sektoru, dodijeljena količina dozvola također će osigurati adekvatan obujam proizvodnje.
of missing allowances will still enable competitive electricity production in thermal power stations. 
To znači višu razinu proizvodnje, posljedica čega je i veća proizvodnja stakleničkih plinova.
This means higher production and consequently higher GHG emissions. 
Zbog svega toga termoelektrane neće prodavati svoje dozvole.
Due to everything aforementioned, thermal power stations will not be sellers of allowances. 
U usporedbi s elektranama, industrija ima vrlo ograničen i uzak prostor djelovanja.
In cement, pulp and paper, lime, and glass factories, emissions depend on the quantity of production. 
Ugljen je u industriji gotovo svugdje zamijenjen ostalim energetskim izvorima (npr. plinom) i napravljena su neka poboljšanja.
Some industry has been destroyed due to the transition process. 
Ako želimo procijeniti koliko će još dozvola koje nedostaju morati kupiti poduzeća
The impact of the emissions trading instrument is thus included among the impacts of other measures. 
Utjecaj instrumenta trgovanja dozvolama za zagađivanje uključen je, dakle, među učinke ostalih mjera.
Therefore, we will try to estimate the potential missing emissions allowances from the available and accessible data. 
Dakle, pokušat ćemo na temelju raspoloživih i dostupnih podataka procijeniti potencijalni broj dozvola za zagađivanje koje nedostaju.
Total CO2 emissions for the period 2005-2007 are estimated at around 47.2 million tons CO2, this means around 15.7 million tons CO2 per year. 
Ukupna razina zagađivanja CO2 u razdoblju od 2005. do 2007. procijenjena je na oko 47,2 milijuna tona CO2, što znači oko 15,7 milijuna tona CO2 u godini.
In comparison, the CO2 emissions for the year 2003 were calculated at 16.1 million tons. 
Usporedbe radi, razina zagađivanja CO2 u 2003. godini iznosila je 16,1 milijuna tona.
The total quantity of the allocated emissions allowances for the period 2005-2007 amounts to 26.3 million, which represents a 56% share of planned emissions in the period 2005-2007 and a 54% share of total emissions in the year 2003. 
Ukupna količina dodijeljenih dozvola za zagađivanje u razdoblju od 2005. do 2007. iznosi 26,3 milijuna, što čini 56% udjela planirane razine zagađivanja u razdoblju od 2005. do 2007. i 54% udjela ukupne razine zagađivanja u 2003. godini.
But if we also include the shortage of emissions allowances in the industry sector, then the total annually missing allowances would be at around 500 thousand tons CO2, as is likewise foreseen in OPGHG. 
Ali ako tome dodamo nedostatak dozvola za zagađivanje u industrijskom sektoru, ukupni će godišnji nedostatak dozvola iznositi oko 500 tisuća tona CO2, kao što je i predviđeno u OPGHG.
In the year 2005 and 2006, the energy sector will probably not be a net buyer of al 
U 2005. i 2006. godini energetski sektor vjerojatno neće biti neto-kupac dozvola, dok
lowances, while the situation is different in the industry sector. 
je situacija u industrijskom sektoru drugačija.
According to available information, which originates from industry representatives, the industry will face a shortage of allowances already in the year 2005. 
Prema informacijama koje dolaze od predstavnika industrije, industriji će već u 2005. godini nedostajati dozvola za zagađivanje.
T. Markovič-Hribernik, A. 
zvole za zagađivanje
According to this, the final costs of reaching the Kyoto target will depend on the effectiveness of the chosen measures and movements on the emissions allowances market. 
Prema tome, konačni trošak postizanja ciljeva iz Kyota ovisit će o učinkovitosti odabranih mjera i kretanjima na tržištu dozvola za zagađivanje.
Protection and awareness of a cleaner environment is becoming one of the most im 
Zaštita i svijest o čistom okolišu postaje jedna od najvažnijih tema, osobito u razvi
In light of protecting the environment, the Kyoto Protocol represents a special turning point. 
U svijetu zaštite okoliša Protokol iz Kyota posebna je točka preokreta.
Slovenia already started with the implementation of the economic instrument for reducing GHG emissions in the year 1997, when the CO2 tax was established and it became the first of the transition countries to implement this instrument. 
Slovenija je već u 1997. godini započela implementaciju ekonomskih instrumenata za smanjivanje razine stakleničkih plinova, kad je uveden porez na CO2 i tako je postala prva tranzicijska zemlja koja je uvela taj instrument.
Although this tax was not implemented for reducing CO2 emissions in the first place (very low prices and payment exemptions for many main polluters), but rather for additionally supplementing the state budget because of a reduction in other budgetary revenues (lower social insurance contribution, which are paid for by employers). 
Ipak, glavni cilj uvođenja tog poreza nije bilo smanjenje razine CO2 (zbog niske razine poreza i izuzeća od plaćanja za mnoge glavne onečišćivače), već je uveden kako bi osigurao dodatne prihode državnog proračuna oslabljenoga zbog smanjenja ostalih proračunskih prihoda (nižih doprinosa za socijalno osiguranje koje plaćaju poslodavci).
The CO2 tax went through several changes, the last one was in the year 2005, when the emissions trading instrument was adopted in Slovenia. 
Porez na CO2 prošao je nekoliko promjena, a posljednja je bila u 2005. godini, kad je usvojen instrument trgovanja dozvolama za zagađivanje u Sloveniji.
There was a threefold increase in the CO2 tax and this new level could have had much more influence on polluters' behavior and CO2 emissions reduction, if the country did not introduce a permit for the tax-free use of fuels. 
Trostruko se povećao porez na CO2 i ta je nova razina mogla imati mnogo veći utjecaj na ponašanje onečišćivača i smanjene razine CO2 da zemlja nije uvela dozvolu za neoporezivo korištenje goriva.
Benchmarking was based on the BAT values for the power generation sector and the industry sector. 
Usporedba slovenskog NPR-a s nacionalnim planovima ostalih zemalja članica EU
Naturally, a question that arises is: are Slovenian solutions optimal, especially from 
Prirodno pitanje koje se postavlja jest jesu li slovenska rješenja optimalna, osobito iz
the Kyoto target compliance costs and rightful allocation point of view and so on? 
perspektive troškova prilagodbe ciljevima zadanim Protokolom iz Kyota i pravedne razdiobe dozvola.
Some remarks were given from the industry and energy side. 
Predstavnici industrije i energetskog sektora izrazili su neke primjedbe.
These remarks were connected with the choice of the base year or period (companies had the possibility to choose between 1999 and 2002, although at that time, when the NAP was being prepared, emissions for the year 2003 were already known). 
One su povezane s izborom bazne godine ili razdoblja (poduzeća su imala mogućnosti odabira jedne godine između 1999. i 2002, iako su u vrijeme kad se pripremao NPR razine zagađivanja za 2003. godinu već bile poznate).
If emissions in the year 2003 were also included, this would have meant a better position for some of the participants. 
Da su uključene razine zagađivanja u 2003. godini, to bi za neke sudionike značilo bolji položaj.
The government also reduced the initially set new entrant reserve from 300 to 200 thousand tons CO2 (this data was collected directly from the installation operators, according to the activation of new installations and their planned emissions) and therefore the operators fell short by 100 thousand tons CO2. 
Vlada je također smanjila pričuvu za nove sudionike tržišta, s početnih 300 na 200 tisuća tona CO2 (podaci su prikupljeni izravno od operatera postrojenja, u skladu s aktivacijom novih postrojenja i njihovih planiranih razina zagađivanja) i tako su operateri ostali uskraćeni za 100 tisuća tona CO2.
Although the country wanted the most correct emissions allowances allocation, some deviations from the principle can be seen. 
Iako je država težila najpravednijoj raspodjeli dozvola za zagađivanje, uočljiva su neka odstupanja od početnih načela.
This deviation is present between the industry sector and the power generation sector. 
Odstupanje je zamjetno u tretmanu industrijskoga, odnosno energetskog sektora.
Benchmarking has been used only for the industry sector, while for the power sector only emissions projections in accordance with the OPGHG were used. 
Metoda polazišta primijenjena je samo za industrijski sektor, dok se u energetskom sektoru koristila samo metoda projekcije razine zagađivanja u skladu s OPGHG.
Representatives of the power generation sectors have been successful in their negotiations with the government, meanwhile the industry has not been successful in any claim. 
Predstavnici energetskog sektora uspješno su pregovarali s Vladom, dok industrija nije bila uspješna ni u jednome od svojih zahtjeva.
Slovenia has decided not to use two other flexible mechanisms; that is Joint Im 
Osim toga, Slovenija nije imala prikladnu i raspoloživu tehnologiju za to.
A special problem in all of this is the transportation sector, which has a 24% share in total CO2 emissions. 
Poseban problem u svemu jest transportni sektor, koji ima udio od 24% u ukupnoj razni proizvodnje CO2.
At the moment, transport is not included in the emissions trading scheme, but increasing the energy efficiency of vehicles and giving a major role to public transport could reduce emissions in this sector. 
U ovom trenutku transport nije uključen u trgovinsku shemu, ali bi povećanje energetske učinkovitosti vozila i davanje veće uloge javnom prijevozu moglo smanjiti razinu zagađivanja u tom sektoru.
What the Kyoto Protocol compliance costs will be in Slovenia at the end will depend 
Koliki će biti troškovi prilagodbe Protokolu iz Kyota u Sloveniji, ovisit će o efikasno
on the efficiency of the already implemented and planned measures or instruments for reducing the emissions, as well as on the emissions allowances price. 
sti već implementiranih i planiranih mjera ili instrumenata za smanjenje razine zagađivanja, kao i o razini cijene dozvola za zagađivanje.
Present price is around 23.50 EUR/t CO2, mainly because of the exceeded demand, while it was in January and February around 7 EUR/t CO2. 
Trenutačna cijena je oko 23,50 EUR/t CO2, uglavnom zbog viška potražnje, dok je u siječnju i veljači iznosila oko 7 EUR/t CO2.
Such extreme movement means high uncertainty for the potential buyers of the emissions allowances and higher risk on the emissions market. 
Tako ekstremna kretanja znače visoku razinu neizvjesnosti za potencijalne kupce dozvola za zagađivanje i viši stupanj rizika na tržištu tih dozvola.
proach from the approaches used to solve other environmental problems. 
Činjenica je da će proces smanjenja razine zagađivanja zahtijevati drukčiji pristup od
We must say that we are dealing with a very complex task, but we cannot just take into account the costs criteria, but also the following criteria: enabling international competitiveness of the economy, adjustments to financial possibilities, enabling reliable energy, food and other strategic goods supply, social justice and acceptability, increasing employment, adaptability and the longrun sustainability of accepted decisions. 
Moramo reći da je to vrlo kompliciran zadatak, ali ne možemo samo uzeti u obzir kriterij troška, nego i ove kriterije: omogućivanje međunarodne konkurentnosti ekonomije, prilagodbe financijskim mogućnostima, omogućivanje potrebnih količina zaliha energije, hrane i ostalih strateških dobara, društvenu pravednost i prihvatljivost, povećanje zapošljavanja, prilagodljivost i dugoročnu održivost prihvaćenih odluka.
Agencija Republike Slovenije za okolje, 2003. 
Kazalci okolja 2003 - Instrumenti
“Impacts on prices, volatility and liquidity in EU ETS” in Proceed 
“Impacts on prices, volatility and liquidity in EU ETS” in Procee
ings of the Carbon Market Insights. 
dings of the Carbon Market Insights.
Operativni program zmanjševanja emisij toplogrednih plinov 
Operativni program zmanjševanja emisij toplogrednih pli
Ljubljana: Ministry of Enivronment and Spatial Planning. 
Ljubljana: Ministry of Environment and Spatial Planning.
EU Emissions Trading Scheme - Explanatory Note 3 - Timetable to Final Allocation Deci 
EU Emissions Trading Scheme - Explanatory Note 3 - Timetable to Final Allocation Decisi
“Annual European Community green 
“Annual European Community gre
house gas inventory 1990-2003 and inventory report 2005” [online]. 
enhouse gas inventory 1990-2003 and inventory report 2005” [online].
able from: [http://europa.eu.int/comm/eurostat]. 
ilable from: [http://europa.eu.int/comm/eurostat].
TradeNews Emissions, Freitag, 24 September 2004, No. 6 DowJones VWD News, 10-12. 
Trade News Emissions, Freitag, 24 September 2004, No. 6 DowJones VWD News, 10-12.
Evaluation of alternative initial allocation mechanisms in a European Union greenhouse gas emissions allowance trading scheme [on 
Evaluation of alternative initial allocation mechanisms in a European Union greenhouse gas emissions allowance trading scheme [onli
“Accession Countries Impact on EU Emissions Trading” in: Proc 
“Accession Countries Impact on EU Emissions Trading” in: Proce
cedings of the Carbon Market Insights. 
edings of the Carbon Market Insights.
MOPE - EIONET - European Environment Information and Observation Net 
Operativni program zmanjševanja emisij toplogrednih plinov, povzetek: summary [online].
Slovenska podjetja in trgovanje z emisijami TGP. 
Ljubljana: Uradni list Republike Slovenije.
Available from: [http://www. colby.edu/ personal/thtieten]. 
Available from: [http://www. colby.edu/ personal/thirteen].
Available from: [http:// 
www.unfccc.int].
The theory also predicts that groups will differ in performance and in their reaction to external shocks. 
Stoga razvrstavanje banaka u strateške grupe i omogućivanje različitih reakcija grupa na vanjske šokove pomaže u preciznom objašnjenju dobiti bankarskog sektora kao cjeline.
Using panel regression methods we show that the allocation of banks to groups is statistically significant in explaining the profitability of banks. 
Ključne riječi: strateške grupe, financijska stabilnost, određivanje klastera, Wardov algoritam, regresija s panelnim podacima
Thus, breaking down the banks into strategic groups and allowing for the different reaction of the groups to external shocks helps in a more accurate explanation of profits of the banking sector as a whole. 
* Ljubazno zahvaljujemo anonimnim recenzentima našeg rada te Tomaszu Chmielewskom, Adamu Głogowskom, Marti Gołajewskoj i Jaceku Osińskom iz Nacionalne banke Poljske, kao i drugim sudionicima seminara što ih je organizirala Nacionalna banka Poljske na poticajima i vrijednim komentarima.
G. Halaj and D. 
G. Halaj i D.
According to the theory, the number of available strategies is limited. 
Prema toj teoriji, broj mogućih strategija je ograničen.
By choosing a given strategy a company assigns itself to a certain group. 
Odabirom neke strategije poduzeće se svrstava u određenu grupu.
Strategic groups are relatively stable over time, which is a conse quence of mobility barriers. 
Strateške su grupe relativno stabilne tijekom vremena, što je posljedica prepreka mobilnosti.
In empirical research that applies strategic group theory to the banking sector, it was assumed that a bank's strategy was reflected in the structure of its balance sheet. 
U empirijskim istraživanjima u kojima se teorija strateških grupa primjenjuje na bankarski sektor pretpostavljeno je da se strategija banke reflektira na strukturu njezine bilance.
The shares of particular balance sheet items in total assets or the shares of particular loan categories in total loan portfolio were called strategic variables or strategic dimensions. 
Udio pojedinih stavki iz bilance u ukupnoj imovini ili udio pojedinih kategorija zajmova u ukupnom kreditnom portfelju naziva se strateškom varijablom ili strateškom dimenzijom.
The aim of this paper is to verify whether strategic groups make it possible to model banks' performance more accurately. 
Cilj je ovog rada provjeriti omogućuju li strateške grupe točnije modeliranje uspješnosti poslovanja banaka.
We identify strategic groups in the Polish banking sector and test whether their profitabilities differ sig nificantly. 
Mi identificiramo strateške grupe u bankarskom sektoru Poljske i provjeravamo da li se njihova profitabilnost značajno razlikuje.
The statistical significance of a group variable in the panel models both supports the thesis of the significant differences between groups' performances and may improve modeling of banking sector profits, allowing for different reactions of particular groups to external shocks. 
Statistička signifikantnost grupne varijable u modelima s panelnim podacima potvrđuje tezu značajnih razlika između uspješnosti poslovanja grupa i može li unaprijediti modeliranje dobiti bankarskog sektora, pri čemu su moguće različite reakcije pojedinih grupa na vanjske šokove.
This could improve the ex ante assessment of the profit-generating potential of banks and thus support a more forward looking approach to the analysis of the stability of the banking sector. 
To može unaprijediti i ex ante ocjenu potencijala banaka za generiranje dobiti i time pridonijeti pristupu analizi stabilnosti bankarskog sektora koji je više orijentiran na budućnost.
Since there were many mergers and acquisitions in the second half of the 1990s in the Polish banking sector, the stability of groups over time may be hampered. 
Budući da je tijekom druge polovice 1990-ih godina došlo do mnogih spajanja i preuzimanja unutar poljskoga bankarskog sektora, stabilnost grupa u ovom razdoblju može biti upitna.
On the other hand, the share of foreign capital in the Polish banking sector increased substantially at that time. 
Osim toga, udio inozemnog kapitala u bankarskom sektoru Poljske znatno je povećan tijekom tog razdoblja.