Alternative Financing for a Sustainable Energy Transition: An Institutionalist Perspective

Andréa Almawi and Faruk Ülgen

Journal of Economic Issues, 2024, vol. 58, issue 2, 487-494

Abstract: This article adopts an institutionalist perspective in order to address the energy transition process and to consider, in particular, the alternative financing mechanisms that would be able to support a structural transformation that is sustainable in the long term. It argues that such a transformation can be regarded in a holistic and broader way as an eco-transition process that involves the whole society and economy and requires a societal public organization. A relevant holistic approach to eco-transition should focus on the institutional conditions that are required for a new sustainable and structural change framework. In this aim, the article points to the features of the transition process that display the characteristics of a public good. The durable provision of such a good calls for the transformation of the financing schemes in force to support green investments beyond the usual opposition between market-friendly and government-guided economic policies. A relevant avenue is to organize the financing of the eco-transition under the supervision of public institutions even though the contribution of private bodies might be valuable according to the rules of long-term non-speculative financial support of markets.

Date: 2024
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Working Paper: Alternative financing for a sustainable energy transition: An institutionalist perspective (2024)
Working Paper: Alternative Financing for a Sustainable Energy Transition: An Institutionalist Perspective (2024)
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DOI: 10.1080/00213624.2024.2344424

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