Série COP21 - Le Blog du CEPII

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Trillions in Transition: Growing our Way out of Climate Change?

Post, December 7, 2015
By D.A. Loorbach, R. Lijnis Huffenreuter

Paris 2015 marks the start of a climate change investment boom worth trillions of dollars. This upcoming hype begs the question: can we grow our way out of climate change?

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To Recognize the Social Value of Mitigation Actions in a Climate Agreement

Post, December 7, 2015
By Dominique Finon

In theory, uncertainties about the costs of the low carbon policies implemented by each country to meet the emissions quota imposed by the agreement make it unlikely that any credible agreement could be reached or respected, either because countries would be reluctant to commit, or due to opportunistic cheating.

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Thinking ‘Eco-Systemically’ to Shift the Trillions

Post, December 7, 2015
By Romain Morel, Ian Cochran

A factor that clearly differentiates COP21 and COP15 in Copenhagen is the increasing mobilization of the financial sector. In the past months, financial actors have taken commitments and spoken out on climate-related topics.

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The price of carbon: ways forward after COP-21

Post, November 26, 2015
By Christian de Perthuis, Pierre-André Jouvet, Raphaël Trotignon

Because the climate is a common good, economists generally advocate the use of an international carbon price to internalize climate risk, to incorporate as many countries as possible into an agreement and to thwart “free-rider” strategies.

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Towards a Sustainable Financial System

Post, November 26, 2015
By Armin Haas

It will be key for the global sustainability transition that the measures taken in the respective sustainability dimensions, i.e. the economic, the ecological, and the social dimension, complement and reinforce each other.

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Environmental policy performance bonds

Post, November 12, 2015
By Abdeldjellil Bouzidi, Michael Mainelli

Linking public debt to CO2 emissions could give governments a strong incentive to deliver on climate change action.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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).

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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.

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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.

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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...

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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.

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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.

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