By Pierre Monnin (CEP, Zurich) - Low interest rates tend to favor ‘green technologies’ competitiveness while also increasing their cost volatility. More...
31 octobre 2015
31 octobre 2015
Why Finance Can Save the Planet?
By Jean Pisani-Ferry - Most people hate finance, viewing it as the epitome of irresponsibility and greed. But, even after causing a once-in-a-century recession and unemployment for millions, finance looks indispensable for preventing an even worse catastrophe: climate change. More...
31 octobre 2015
Financial Innovation and The State - Lessons for 21st Century Climate Finance from the 19th Century Railways Era
By Dipak Dasgupta (Board Member of Global Climate Fun, India) - This paper seeks to bring a historical perspective to current global financial architecture issues on the speed and scale of climate finance needed to achieve a safer two degrees world. We look back in history to a similar episode for lessons: the financing and building of railroads in the 19th century. More...
31 octobre 2015
How to Finance the Low Carbon Transition: The Role of the Financial System
The aim of this webpage, co-hosted by France Stratégie and CEPII, is to provide a medium for experts and non-experts to discuss the merits and the limits of the various proposals and initiatives in the field of international finance. It is intended to become a forum where the debate on the financial system’s contribution to the energy transition can flourish. More...
31 octobre 2015
What Role for Financial Supervisors in Addressing Systemic Environmental Risk?
By Rens van Tilburg (Utrecht University) - Financial shocks can originate from ecological imbalances what justifies more careful attention by the financial regulators to this specific risk. A new macroprudential framework is proposed. More...
31 octobre 2015
Positive Pricing of Carbon Reduction: A Low Hanging Fruit
Alfredo Sirkis (Centro Brasil no Clima) - This article is part of a special series discussing the economic dimensions of environmental issues ahead of the COP 21 Climate change Conference held in Paris on 30 November-11 December 2015. More...
31 octobre 2015
Growth Declines Are Often Abrupt
In the 1960s, France’s economy was growing fast. Having successfully recovered from World War II, it had embarked on comprehensive modernisation. New cities were built to accommodate massive migration from the countryside, ambitious transport and communication infrastructure programmes were rolled out, consumer durable industries were booming and innovative new products were being launched. By Jean Pisani-Ferry. More...
31 octobre 2015
Guideposts for Low Carbon Finance
By Billy Pizer (Duke University) - Four guideposts for efficient low carbon finance: remove subsidies for high-carbon technologies, improve the cost-effectiveness of low-carbon subsidies, encourage private sector innovation and maintain transparent public policy tools that support cost-benefit accounting. More...
31 octobre 2015
Reorienting Financial Intermediation Towards Sustainable Financing: Bangladesh Bank’s approach
By M.A.M. Kazemi - The Bangladesh central bank (Bangladesh Bank or BB) has a long tradition of favouring socially sustainable financing behaviour. It was thus natural to extend its mission to the question of climate change mitigation and adaptation investments, both internally and externally in the global financial system. More...
31 octobre 2015
More Political Economy on Global Warming – Plus a Proposition
Michel Aglietta (CEPII) and Étienne Espagne (CEPII) draw six political economy lessons from the dynamics of climate negotiations and their connection to the new macroeconomic normal that has emerged in the aftermath of the 2008 crisis. A specific proposal follows. More...
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