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Carbon taxation and market financial instruments for mobilizing climate finance

Oleksandr Sushchenko () and Reimund Schwarze
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Oleksandr Sushchenko: Kyiv National Economic University named after V. Hetman, 03680, Kyiv, Ukraine

No 23, Discussion Paper Series RECAP15 from RECAP15, European University Viadrina, Frankfurt (Oder)

Abstract: The aim of this paper is to conduct an evaluation of the financial instruments and their role in mobilizing climate finance, provide a set of recommendations aimed at easing the process of climate finance mobilization for both developed and developing countries (especially, for Ukraine). It is also important to show the shift from voluntary corporate social responsibility (CSR) to the new principles of investing (ESG) and business models in the climate change area and how it affects mobilization of climate finance. Another important goal of this paper is to show the importance of transaction costs, and ways how the accounting, reporting and evaluation of the results of emission reduction projects could reduce existing costs and improve access to the financial market, i.e. to the relatively “cheap” financial resources. We also highlights ways for establishing the necessary infrastructure on the financial market needed to minimize the transaction costs while getting financial resources for the purpose of greenhouse gases reduction (GHG reduction).

Keywords: climate finance; carbon taxation; market financial instruments; climate- aligned bonds; non-financial reporting (search for similar items in EconPapers)
JEL-codes: G15 Q58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-env, nep-ppm and nep-tra
Date: 2016-10
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