Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/222684
Authors: 
Sachs, Jeffrey
Thye, Woo Wing
Yoshino, Naoyuki
Taghizadeh-Hesary, Farhad
Year of Publication: 
2019
Series/Report no.: 
ADBI Working Paper Series No. 917
Abstract: 
In 2017, global investment in renewables and energy efficiency declined by 3% and there is a risk that it will slow further; clearly fossil fuels still dominate energy investment. This could threaten the expansion of green energy needed to provide energy security and meet climate and clean air goals. Several developed and developing economies are still following pro-coal energy policies and the extra CO2 generated by new coal-fired power plants could more than wipe out any reductions in emissions made by other nations. Finance is the engine of development of infrastructure projects, including energy projects. Generally financial institutions show more interest in fossil fuel projects than green projects, mainly because there are still several risks associated with these new technologies and they offer a lower rate of return. If we want to achieve sustainable development goals, we need to open a new file for green projects and scale up the financing of investments that provide environmental benefits, through new financial instruments and new policies, such as green bonds, green banks, carbon market instruments, fiscal policy, green central banking, financial technologies, community-based green funds, etc., which are collectively known as "green finance".
Subjects: 
green finance
renewable energy
CO2 emissions
Paris Agreement
sustainable development goals
SDGs
JEL: 
O44
Q56
Q59
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-nd/3.0/igo/
Document Type: 
Working Paper

Files in This Item:
File
Size
324.75 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.