Alternative financing for a sustainable energy transition: An institutionalist perspective

Andrea Almawi and Faruk Ülgen
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Andrea Almawi: CREG - Centre de recherche en économie de Grenoble - UGA - Université Grenoble Alpes

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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 does call 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.

Keywords: Energy transition; Financial markets; Institutionalism; Public good; Regulation; Sustainability (search for similar items in EconPapers)
Date: 2024-01-05
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Published in ASSA 2024 Annual Meeting, Allied social science associations; American economic association; Association for Evolutionary Economics, Jan 2024, San Antonio, United States

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Journal Article: 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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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04477274

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