Pathways to green finance: what models tell us

Étienne Espagne

Chapter 25 in The Elgar Companion to Energy and Sustainability, 2024, pp 384-396 from Edward Elgar Publishing

Abstract: This chapter starts from the drawbacks of most Integrated Assessment Models (IAMs) in taking money and finance into account in a meaningful way, going on to potential strategies for improvement coming from a range of schools of thoughts, including post-keynesian and ecological macroeconomics approaches. In the first section, we will show how IAMs omit any representation of a financial sector, while still being today at the core of official NGFS scenarios. We then discuss how these impacts can be represented in new types of IAMs, and how they have already started to be addressed, notably in the ecological macroeconomics literature. We conclude with a few avenues for further modelling developments of green finance in real world economies.

Keywords: Business and Management; Development Studies; Economics and Finance; Environment; Geography; Innovations and Technology; Law - Academic; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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