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How Could We Finance Low-Carbon Investments in Europe?

Post, October 22, 2015
By Michel Aglietta, Etienne Espagne, Vincent Aussilloux, Baptiste Perrissin-Fabert

This year, Europe is confronted with a critical double challenge: addressing the climate change issue and pulling itself out of a persistent low growth trap. Today these two challenges are addressed separately. We propose to make private low-carbon assets eligible for the ECB asset purchase program.

A €120bn investment programme for the European Union’s three-year Juncker Plan

Post, October 22, 2015
By Michel Lepetit

Massive financing of the energy transition in schools, hospitals
and other public buildings.

Financing the Green Climate Fund

Post, October 22, 2015
By Matthias Kroll

How central banks can contribute to staying below the 2°C benchmark by purchasing Green Climate Bonds.

Climate Finance in the Context of Sustainable Development

Post, October 22, 2015
By Ottmar Edenhofer, Jan Christoph Steckel, Michael Jakob

Novel ideas how to spend climate finance in a way that reduces emissions and at the same time promotes recipients’ immediate development objectives are required. In this short commentary, we propose to regard climate finance in the broader context of sustainable development.

After TPP: the EU shouldn’t rush into concluding TTIP

Post, October 15, 2015
By Sébastien Jean

Despite the magnitude of the Transpacific Partnership Agreement concluded by the United States, the EU should not heed calls to rush into concluding ongoing Transatlantic Trade and Investment Partnership talks under the Obama administration at any cost, and focus instead on negotiating a good agreement.

Why Finance Can Save the Planet

Post, October 15, 2015
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.

The “$100 000 000 000 per year” question

Post, October 8, 2015
By Christian De Perthuis, Pierre-André Jouvet

A mechanism of carbon “bonus-malus” is proposed, where the average emission rate of world countries serves as the anchor: above the threshold, countries should pay a malus, under this level, they would receive a bonus.

Financial Innovation and The State: Lessons for 21st Century Climate Finance from the 19th Century Railways Era

Post, October 1, 2015
By Dipak Dasgupta

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.

Supporting the energy transition: the role of low interest rates

Post, October 1, 2015
By Pierre Monnin

Low interest rates tend to favor ‘green technologies’ competitiveness while also increasing their cost volatility.

The Role of International Financial Institutions, Central Banks and Monetary Policies in the Low-Carbon Transition

Post, October 1, 2015
By Colin Hines

An argument in favor of Green infrastructure Quantitative Easing (GIQE).

Sovereign debt restructuring: alternative solutions

Post, September 24, 2015
By Christophe Destais

The implementation of a multilateral mechanism for sovereign debt restructuring that the UN is calling for, is illusory. However, progress could be achieved in different ways: improving the contractual terms, introducing new clauses on automatic debt reprofiling and using the leverage of international funding.

An Investment Climate for Climate Investment

Post, September 22, 2015
By Sam Fankhauser

Three factors hold back low-carbon investment in Europe: the risk/return profile of low-carbon investment projects, regulatory and behavioural features in the financial sector and a more global political economy context. These are key issues to create an investment climate for climate investment.

What Role for Financial Supervisors in Addressing Systemic Environmental Risk?

Post, September 22, 2015
By Rens van Tilburg

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.

Positive Pricing of Carbon Reduction: A Low Hanging Fruit

Post, September 22, 2015
By Alfredo Sirkis

A new UN Climate agreement will probably be signed by the end of this year with some incremental progress but even inveterate optimists like myself don’t believe it will be capable of ‘bridging the gap’ between the maximum that 196 governments can agree upon by consensus...

The exit from the U.S. zero interest-rate policy should be done gradually

Post, September 18, 2015
By Stéphane Lhuissier, Fabien Tripier

Once again, the Federal Reserve has postponed the date of exit from the zero lower bound. We show that the pace of the tightening cycle matters more than the exact timing of the first interest rate hike for the macroeconomy.

More Political Economy on Global Warming and a Proposition

Post, September 18, 2015
By Michel Aglietta, Etienne Espagne

We draw six political economy lessons from the actual dynamics of climate negotiations and their connection to the new macroeconomic normal emerging in the aftermath of the 2008 crisis. A specific proposal follows.

Reorienting financial intermediation towards sustainable financing: Bangladesh Bank’s approach

Post, September 18, 2015
By M.A.M. Kazemi

The Bangladesh central bank has a long tradition of favouring socially sustainable financing behavior. 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.

Guideposts for low-carbon finance

Post, September 18, 2015
By Billy Pizer

Four guide-posts for efficient low-carbon finance are proposed: 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.

Four Roadblocks to a Global Climate Agreement

Post, September 18, 2015
By Jean Pisani-Ferry

As the pace of action looks set to rumble on, countries should seek to make progress on resolving several key issues including the free-rider problem.

How to Finance the Low Carbon Transition: The Role of the Financial System

Post, September 17, 2015
By Etienne Espagne, Baptiste Perrissin Fabert

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.

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