Putting Climate Finance into Context: A Global Public Goods Perspective

Inge Kaul

Chapter 7 in Climate Finance:Theory and Practice, 2017, pp 129-156 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The chapter explores whether there is added value in examining the financing of climate change mitigation and adaptation through the analytical lens of global public goods (GPGs). The discussion indicates that the answer to this question is “yes”. The GPG lens brings into focus the current haphazard nature of climate finance, which often appears to happen without clear criteria for determining when, where and why to use which type of finance. Importantly, efficiency and equity considerations are often confounded to the detriment of both. The analysis suggests that, in order to approach climate finance more systematically and effectively, it would need to be placed into context: into a broader theory of global public economics and finance, of which we have, at present, only some incipient elements. The analysis also indicates, for further research and debate, what could be done to correct this situation.

Keywords: Climate Finance; Adaptation; Mitigation; Green Climate Fund; International Environmental Agreements; International Transfers; Economics (search for similar items in EconPapers)
Date: 2017
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