Venturing into uncharted financial waters: An essay on climate-friendly finance

International Environmental Agreements: Politics, Law and Economics

Volumn 12, Issue 2, 2012, Pages 165-186

  Hourcade, J C ^a,b   Perrissin Fabert, B ^a   Rozenberg, J ^a  

^a Centre International de Recherche sur lEnvironnement et le Developpement   (France)

^b CNRS   (France)

Author keywords

Carbon certificates; Climate agreement; Climate finance; Monetary policy; Social Cost of Carbon

Indexed keywords

CERTIFICATION; CLIMATE CHANGE; DEBT; ENVIRONMENTAL ECONOMICS; INVESTMENT; MONETARY POLICY; PUBLIC GOODS; RISK ASSESSMENT; SAVINGS;

EID: 84859577677     PISSN: 15679764     EISSN: 15731553     Source Type: Journal    
DOI: 10.1007/s10784-012-9169-y     Document Type: Article

References (41)

1. AGF. (2010). Report of the Secretary-General's High-level Advisory Group on Climate Change Financing. The United Nations, New York. http://www. un. org/wcm/content/site/climatechange/pages/financeadvisorygroup/pid/13300.
2. Aglietta, M. (2011). Financer la croissance soutenable. In La finance durable. Une nouvelle finance pour le XXIe siècle (RB Edition).
3. Aldy, J. E., & Stavins, R. N. (2007). Architectures for agreement: addressing global climate change in the post-Kyoto world. Cambridge: Cambridge University Press.
4. Aldy, J. E., Barett, S., & Stavins, R. N. (2003), Thirteen plus one: A comparison of global climate policy architectures. Climate Policy, 3(4), 373-397, 25.
5. Bredenkamp, H., & Pattillo, C. (2010). Financing the response to climate change. Washington, DC: IMF Staff Position Note.
6. De Gouvello, C., & Zelenko, I. (2010). Scaling up the financing of emissions reduction projects for low carbon development in developing countries proposal for a Low-carbon Development Facility (LCDF). Policy research working paper. World Bank.
7. Edenhofer, O., Carraro, C., Hourcade, J.-C., Neuhoff, K., Luderer, G., Flachsland, C., et al. (2009). RECIPE-the economics of decarbonization. Synthesis report.
8. Foley, D. (2009). Economic fundamentals of global warming (p. 332). Edward Elgar Publishing. http://homepage. newschool. edu/~foleyd/FoleygwextRev1a. pdf.
9. Giraud, P.-N. (2009). Le commerce des promesses. Petit traité sur la finance moderne (re-edition). Point Seuil.
10. Grantham Research Institute. (2009). Meeting the climate challenge: Using public funds to leverage private investment in developing countries.
11. Guesnerie, R. (2010). Pour une politique climatique globale. Blocages et ouvertures. CEPREMAP. Editions de la rue d'Ulm.
12. Hourcade, J.-C., & Ghersi, F. (2002). The economics of a lost deal: Kyoto-The Hague-Marrakesh. The Energy Journal, 23(3), 1-26.
13. Hourcade, J.-C., Shukla, P. R., & Mathy, S. (2008). Untying the climate-development Gordian Knot-economic options. In R. Guesnerie, & H. Tulkens, (Eds.), Politically constrained world, MIT Press, 2006, 19 p. http://www. centre-cired. fr/spip. php?article407.
14. International Energy Agency IEA. (2009). World energy outlook 2009. Paris: OECD/IEA edition.
15. IPCC. Climate change. (2007). Mitigation. Contribution of working group III to the fourth assessment report of the intergovernmental panel on climate change (p. 26). Cambridge University Press, Cambridge, UK.
16. Kossoy, A., & Ambrosi, P. (2010). State and trends of the carbon market 2010. Washington, DC: World Bank Report.
17. Krugman, P. (2008). The return of depression economics and the crisis of 2008 (p. 224). W. W. Norton & Company, New York.
18. Lipsey, R. G., & Lancaster, K. (1956). The general theory of second best. The Review of Economic Studies, 24(1), 11-32.
19. Maclean, J., Tan, J., Tirpak, D., Sonntag-O'Brien, V., & Usher, E. (2008). Public finance mechanisms to mobilize investment in climate change mitigation. UNEP, SEFI and SEF Alliance.
20. Müller B., (2011). UN Climate Finance Negotiations. What after Tianjin, and how? ECP Paper No. 11.
21. Neuhoff, K., Fankhauser, S., Guerin, E., Hourcade, J.-C., Jackson, H., Rajan, R., & Ward, J. (2009). Structuring international financial support for climate change mitigation in developing countries. Climate Strategy.
22. Newell, R. G. & Pizer, W. A. (2001). Uncertain discount rates in climate policy analysis. Energy Policy, 32, 519-529.
23. Nordhaus, W. (2007). A review of the "Stern Review on the Economics of Climate Change". Journal of Economic Literature, 45, 686-702.
24. OECD. (2005). Paris Declaration on Aid Effectiveness.
25. Olbrisch, S., Haites, E., Savage, M., Dadhich, P., & Shrivastava, M. K. (2011). Estimates of incremental investment for and cost of mitigation measures in developing countries. Climate Policy, 11, n°3.
26. Perrissin Fabert, B., Dumas, P., Hourcade, J. C. (2010). What social cost of carbon? A mapping of the climate debate. Working paper CIRED.
27. Shalizi, Z., & Lecocq, F. (2009). "Climate change and the economics of targeted mitigation in sectors with long-lived capital stock". Policy research working paper no. 5063. The World Bank.
28. Shukla, P., & Dhar, S. (2011). Climate agreements and India: aligning options and opportunities on a new track. International environmental agreements: Politics, law and economics (pp. 1-15). Berlin: Springer.
29. Smith, J. B., Dickinson, T., Donahue, J. D. B., Burton, I., Haites, E., Klein, R. J. T., & Patwardhan, A. (2011). Development and climate change adaptation funding: coordination and integration. Climate Policy, 11, n°3.
30. Stern, N. (2006). The Economics of Climate Change. The Stern Review. Cambridge University Press.
31. Stern, N. (2010). Presidential Address Imperfections in the Economics of Public Policy, Imperfections in Markets, and Climate Change. Journal of the European Economic Association. MIT Press.
32. UNEP. (2009). Annual report. Seizing the green opportunity. Geneva: United Nations Environment Programme.
33. UNEP. (2010a). Green economy: Driving green economy through public finance and fiscal policy reform. United Nations Environment Programme.
34. UNEP. (2010b). Bilateral finance institutions and climate change. A mapping of 2009 climate financial flows to developing countries. United Nations Environment Programme.
35. UNFCCC. (2007a). Investment and financial flows to address climate change. Bonn: UNFCCC. http://unfccc. int/files/cooperation_and_support/financial_mechanism/application/pdf/background_paper. pdf.
36. UNFCCC. (2007b). Report of the Conference of the Parties on its thirteenth session. The Bali Action Plan.
37. United Nations Conference on Environment and Development. (1992). The Earth Summit. Rio de Janeiro.
38. Ward, J., Frankhauser, S., Hepburn, C., Jackson, H., & Rajan, R. (2009). Catalysing low-carbon growth in developing economies. Public finance mechanisms to scale up private sector investment in climate solutions. Geneva: United Nations Environment Programme.
39. Weitzman, M. (2009). On modeling and interpreting the economics of catastrophic climate change. The Review of Economics and Statistics, MIT Press, 91, 1-19.
40. World Bank. (2009). World development report 2010: Development and climate change. Washington, DC: The World Bank.
41. Zenghelis, D. (2011). A macroeconomic plan for green recovery. Policy paper. Centre for Climate Change Economics and Policy. Grantham Research Institute on Climate Change and the Environment.