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A vision for international climate finance after 2025


Michaelowa, Axel (2022). A vision for international climate finance after 2025. In: Michaelowa, Axel; Sacherer, Anne-Kathrin. Handbook of International Climate Finance. Cheltenham UK: Edward Elgar Publishing Online, 476-486.

Abstract

The world is not on track to meet the goals of the Paris Agreement. Climate innovation is critical to accelerate the transition to net zero emission and climate resilient societies. However, investment in new climate solutions is hampered by a range of policy, regulatory, technical, and macro-economic barriers. They result in high-risk perceptions amongst investors and limited access to long-term affordable finance for climate innovators and entrepreneurs, especially in developing countries. In the absence of targeted action, investment in new climate solutions will remain insufficient to advert catastrophic climate change. Drawing on the programming experience of multilateral climate funds, the paper discusses a four-pronged approach to accelerate climate innovation and investment: (i) establish a conducive policy environment; (ii) support the emergence of new climate solutions; (iii) de-risk the first deployment of functional solutions at commercial scale; and (iv) develop the capacity of domestic financial institutions to finance their widespread diffusion.

Abstract

The world is not on track to meet the goals of the Paris Agreement. Climate innovation is critical to accelerate the transition to net zero emission and climate resilient societies. However, investment in new climate solutions is hampered by a range of policy, regulatory, technical, and macro-economic barriers. They result in high-risk perceptions amongst investors and limited access to long-term affordable finance for climate innovators and entrepreneurs, especially in developing countries. In the absence of targeted action, investment in new climate solutions will remain insufficient to advert catastrophic climate change. Drawing on the programming experience of multilateral climate funds, the paper discusses a four-pronged approach to accelerate climate innovation and investment: (i) establish a conducive policy environment; (ii) support the emergence of new climate solutions; (iii) de-risk the first deployment of functional solutions at commercial scale; and (iv) develop the capacity of domestic financial institutions to finance their widespread diffusion.

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Additional indexing

Item Type:Book Section, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Political Science
Dewey Decimal Classification:320 Political science
Language:English
Date:14 October 2022
Deposited On:03 Feb 2023 15:17
Last Modified:27 Mar 2024 04:50
Publisher:Edward Elgar Publishing Online
ISBN:9781784715649
OA Status:Closed
Publisher DOI:https://doi.org/10.4337/9781784715656.00030