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Why and How to Build a World Climate Bank?

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

Author

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  • Silvio Andrae

Abstract

Climate finance mechanisms to ensure a green transition are a policy objective of the first order. Establishing a World Climate Bank (WCB) can make a significant contribution. The mandate of the WCB would be to primarily assist developing and emerging countries in transforming their economies due to climate change. Existing institutions such as the World Bank cannot provide sufficient climate change financing. Creating a new international organization (IO) can provide this confidence. The chapter justifies the need for such an institution at the macro, meso, and micro levels without overlooking the risks of institutional proliferation. The chapter concludes with policy recommendations related to establishing the new IO.

Suggested Citation

  • Silvio Andrae, 2024. "Why and How to Build a World Climate Bank?," World Scientific Book Chapters, in: Sabri Boubaker & Thai-Ha Le (ed.), HANDBOOK OF ENVIRONMENTAL AND GREEN FINANCE Toward a Sustainable Future, chapter 7, pages 193-253, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614451_0007
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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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