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Great Green Transition and Finance

Author

Listed:
  • Claudia Kemfert

    (German Institute for Economic Research DIW Berlin)

  • Dorothea Schäfer

    (German Institute for Economic Research DIW Berlin)

  • Willi Semmler

    (New School for Social Research)

Abstract

European governments are struggling to regain economic strength in the coronavirus pandemic as in many countries the number of new infections seems to gradually subside. Growth rates deep in the red call for a reconstruction programme when the crisis is finally manageable and economic activity can resume. Amidst this, there are again influential groups that claim “this is not the time to insist on strict climate protection goals”. On the contrary, the ongoing COVID-19 crisis has clearly illustrated what climate disasters, often occurring locally, could do to the life of citizens. The reconstruction programme needs to initiate the great green transition. The transformation from a climate-distorting to a climate-protecting economy opens up investment opportunities and points to financing needs comparable with those necessary for the rebuilding of the European economy after World War II. The great green transition is a unique chance to pursue policies for a new and sustainable growth regime.

Suggested Citation

  • Claudia Kemfert & Dorothea Schäfer & Willi Semmler, 2020. "Great Green Transition and Finance," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(3), pages 181-186, May.
    • Handle: RePEc:spr:intere:v:55:y:2020:i:3:d:10.1007_s10272-020-0896-y
    DOI: 10.1007/s10272-020-0896-y
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    References listed on IDEAS

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    2. János Varga & Ágnes Csiszárik-Kocsir & Mónika Garai-Fodor, 2024. "A Comparison of Green Policy Ambitions by Examining Slovak and Hungarian Small Enterprises," Administrative Sciences, MDPI, vol. 14(10), pages 1-21, October.
    3. Paola D’Orazio & Lilit Popoyan, 2022. "Realising Central Banks’ Climate Ambitions Through Financial Stability Mandates," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(2), pages 103-111, March.
    4. Hacıömeroğlu, Hande Ayaydın & Danışoğlu, Seza & Güner, Z. Nuray, 2022. "For the love of the environment: An analysis of Green versus Brown bonds during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 47(PA).
    5. Jekaterina Kuzmina & Dzintra Atstaja & Maris Purvins & Guram Baakashvili & Vakhtang Chkareuli, 2023. "In Search of Sustainability and Financial Returns: The Case of ESG Energy Funds," Sustainability, MDPI, vol. 15(3), pages 1-16, February.
    6. Pham, Linh & Huynh, Toan Luu Duc & Hanif, Waqas, 2023. "Time-varying asymmetric spillovers among cryptocurrency, green and fossil-fuel investments," Global Finance Journal, Elsevier, vol. 58(C).
    7. Jin-Li Hu & Min-Yueh Chuang, 2023. "The Importance of Energy Prosumers for Affordable and Clean Energy Development: A Review of the Literature from the Viewpoints of Management and Policy," Energies, MDPI, vol. 16(17), pages 1-16, August.
    8. D'Orazio, Paola & Hertel, Tobias & Kasbrink, Fynn, 2022. "No need to worry? Estimating the exposure of the German banking sector to climate-related transition risks," Ruhr Economic Papers 946, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    9. Hoffart, Franziska M. & D'Orazio, Paola & Holz, Franziska & Kemfert, Claudia, 2024. "Exploring the interdependence of climate, finance, energy, and geopolitics: A conceptual framework for systemic risks amidst multiple crises," Applied Energy, Elsevier, vol. 361(C).
    10. Egerer, Elsa, 2023. "Eine wirkungsorientierte Finanzmarktstrategie zur Reduktion von Treibhausgasemissionen – Ergebnisse aus dem FIRN-Projekt," OSF Preprints ujvpm, Center for Open Science.
    11. Geng, Qianqian & Wang, Ying & Wang, Xiaoqing, 2023. "The impact of natural resource endowment and green finance on green economic efficiency in the context of COP26," Resources Policy, Elsevier, vol. 80(C).
    12. Aloui, Donia & Benkraiem, Ramzi & Guesmi, Khaled & Vigne, Samuel, 2023. "The European Central Bank and green finance: How would the green quantitative easing affect the investors' behavior during times of crisis?," International Review of Financial Analysis, Elsevier, vol. 85(C).

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