Local Solutions: Financing Climate Action through Land Value Capture

Patrick Welch, Enrique Silva, Martim Smolka and Amy Cotter
Additional contact information
Patrick Welch: Lincoln Institute of Land Policy
Enrique Silva: Lincoln Institute of Land Policy
Martim Smolka: Lincoln Institute of Land Policy
Amy Cotter: Lincoln Institute of Land Policy

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: The urgent need to address climate change has prompted subnational governments worldwide to explore innovative financing mechanisms to fund climate investments. This paper examines land value capture (LVC) as a potential source of financing for local climate action, reviewing instruments and implications associated with their implementation. It demonstrates how public climate interventions, including low-carbon transportation and green infrastructure, can positively impact land values and how subnational governments can recover those increments through LVC for additional public benefit. The paper examines common LVC instruments and their rationale, exploring how these mechanisms have been employed in different jurisdictions to fund climate mitigation and adaptation efforts. The paper underscores the potential of LVC as a viable financing mechanism for subnational climate action, offering insights into its practical implementation.

Pages: 22 pages
Date: 2024-02
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper2401

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