Decarbonizing Development: Three Steps to a Zero-Carbon Future

Fay, Marianne; Hallegatte, Stéphane; Vogt-Schilb, Adrien; Rozenberg, Julie; Narloch, Ulf; Kerr, Tom

doi:10.1596/978-1-4648-0479-3

Cited by 123 publications

(126 citation statements)

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“…Complementary instruments may be needed to address additional market failures. Political economy or transaction cost barriers may even require a temporary substitution of carbon pricing with standards and other instruments such as subsidies for low‐carbon energy production, for example, feed‐in tariffs . Sunset clauses for subsidies will however be required to avoid locking‐in a subsidy‐based policy mix which may hamper the introduction of carbon pricing necessary to achieve decarbonization …”

Section: Novel Options For Climate Financementioning

confidence: 99%

From climate finance toward sustainable development finance

Steckel

Jakob

Flachsland

et al. 2016

WIREs Climate Change

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Decarbonizing the global energy system requires large‐scale investment flows, with a central role for international climate finance to mobilize private funds. The willingness to provide international finance in accordance with common but differentiated responsibilities was acknowledged by the broad endorsement of the Paris Agreement, and the Green Climate Funds in particular. The international community aims to mobilize at least USD 100 billion per year for mitigation and adaption in developing countries. In this article, we argue that too little attention has been paid on the spending side of climate finance, both in the political as well as the academic debate. To this end, we review the challenges encountered in project‐based approaches of allocating climate finance in the past. In contrast to project‐based finance, we find many advantages to spending climate finance in support of price‐based national policies. First, the support for international climate cooperation is improved when efforts of successively rising domestic carbon pricing levels are compensated. Second, carbon pricing sets incentives for least‐cost mitigation. Third, investing domestic revenues from emission pricing schemes could advance a country's individual development goals and ensure the recipient's ‘ownership’ of climate policies. We conclude that by reconciling the global goal of cost‐efficient mitigation with national policy priorities, climate finance for carbon pricing could become a central pillar of sustainable development and promote international cooperation to achieve the climate targets laid down in the Paris Agreement. WIREs Clim Change 2017, 8:e437. doi: 10.1002/wcc.437 This article is categorized under: Climate Economics > Economics and Climate Change Climate and Development > Decoupling Emissions from Development

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Section: Novel Options For Climate Financementioning

confidence: 99%

From climate finance toward sustainable development finance

Steckel

Jakob

Flachsland

et al. 2016

WIREs Climate Change

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show abstract

“…7 Thus, compensation measures for welfare losses due to energy price increases would need to be designed carefully . In-kind measures-such as subsidized public transport, food stamps or school feeding programs, expansion of primary health care, electrification in poor and rural areas, and distribution of efficient light bulbs-could complement cash transfers (Fay et al ., 2015;International Monetary Fund, 2013) . The information we provide in the "Welfare Impacts of Price Shocks" section sheds light on the specific channels through which energy price increases could affect poor households directly and indirectly, thus helping governments design such compensation measures .…”

Section: In-kind and Cash Transfers Can Be Used To Compensate Poor Homentioning

confidence: 99%

The Other Side of the Boom: Energy Prices and Subsidies in Latin America and the Caribbean during the Super-Cycle

Marchán¹,

Espinasa²,

Yépez-García³

2017

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“…The transition toward a low-carbon pathway globally needs to be managed in a way that does not disproportionately disadvantage developing countries (Swilling and Annecke 2010; International Labor Organization 2010; Stevis and Felli 2014). An important report by the World Bank on decarbonizing development argued for early action on climate change in developing countries, as "early action avoids lock-ins and is cost-effective: delays today need to be offset by faster decarbonization tomorrow, meaning higher costs and stranded assets" (Fay et al 2015).…”

Section: %mentioning

confidence: 99%

Stranded Assets: A Climate Risk Challenge

Caldecott¹,

Harnett²,

Cojoianu³

et al. 2016

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Commons IGO 3.0 Attribution-NonCommercial-NoDerivatives (CC-IGO BY-NC-ND 3.0 IGO) license (http://creativecommons.org/licenses/by-nc-nd/3.0/igo/legalcode) and may be reproduced with attribution to the IDB and for any non-commercial purpose. No derivative work is allowed. Any dispute related to the use of the works of the IDB that cannot be settled amicably shall be submitted to arbitration pursuant to the UNCITRAL rules. The use of the IDB's name for any purpose other than for attribution, and the use of IDB's logo shall be subject to a separate written license agreement between the IDB and the user and is not authorized as part of this CC-IGO license.

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Decarbonizing Development: Three Steps to a Zero-Carbon Future

Cited by 123 publications

References 0 publications

From climate finance toward sustainable development finance

From climate finance toward sustainable development finance

The Other Side of the Boom: Energy Prices and Subsidies in Latin America and the Caribbean during the Super-Cycle

Stranded Assets: A Climate Risk Challenge

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