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Environmental Impact Bonds: An Innovative Public–Private Approach to Tackle Climate Challenges

In: HANDBOOK OF ENVIRONMENTAL AND GREEN FINANCE Toward a Sustainable Future

Author

Listed:
  • Maya Tira
  • Benjamin Le Pendeven
  • Céline Louche

Abstract

This chapter explores the emergence of Environmental Impact Bonds (EIBs), an innovative public–private financing mechanism dedicated to environmental projects, as a response to the lack of funding of innovative policies tackling climate change. Building from the Social Impact Bond (SIB) prototypical model and features, and looking at the pioneer experience of DC Water in the USA as well as the EIB experiment by the French Agency for Environmental and Energy Management (ADEME), we identify two distinct models of EIBs that are emerging and compare them in the light of the French and USA experiments. Finally, we discuss the challenges to overcome for a successful and relevant deployment of EIBs.

Suggested Citation

  • Maya Tira & Benjamin Le Pendeven & Céline Louche, 2024. "Environmental Impact Bonds: An Innovative Public–Private Approach to Tackle Climate Challenges," World Scientific Book Chapters, in: Sabri Boubaker & Thai-Ha Le (ed.), HANDBOOK OF ENVIRONMENTAL AND GREEN FINANCE Toward a Sustainable Future, chapter 5, pages 151-171, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614451_0005
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    More about this item

    Keywords

    Green and Impact Bonds; Green Banking and Financing; Green Finance in Europe; ESG Performance; Climate Change; Climate Justice; Green Mortgages; Sustainable Transition; Renewable Energies; Green Transition in The EU;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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