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Financing climate-friendly energy development through bonds

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  • John A Mathews
  • Sean Kidney

Abstract

In this paper we review the various instruments that have been proposed and implemented for financing renewable energy and low-carbon technology projects, in both the developed and developing world, with a focus on private sector involvement. We consider their common features and compare their total impact so far with the scale of renewable energy funding likely to be needed over the next several decades, as estimated by such bodies as the International Energy Agency, which puts the amount at one trillion US dollars per year. An increase of this magnitude in the required financing provides opportunities for developing new financing instruments, based on what has been accomplished so far, and for regional development banks to be involved in the process, subject to sound risk management principles.

Suggested Citation

  • John A Mathews & Sean Kidney, 2012. "Financing climate-friendly energy development through bonds," Development Southern Africa, Taylor & Francis Journals, vol. 29(2), pages 337-349, June.
    • Handle: RePEc:taf:deveza:v:29:y:2012:i:2:p:337-349
    DOI: 10.1080/0376835X.2012.675702
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    Cited by:

    1. Juan Camilo Mejía-Escobar & Juan David González-Ruiz & Giovanni Franco-Sepúlveda, 2021. "Current State and Development of Green Bonds Market in the Latin America and the Caribbean," Sustainability, MDPI, vol. 13(19), pages 1-25, September.
    2. Xiaoguang Zhou & Yadi Cui, 2019. "Green Bonds, Corporate Performance, and Corporate Social Responsibility," Sustainability, MDPI, vol. 11(23), pages 1-27, December.
    3. Sinha, Avik & Ghosh, Vinit & Hussain, Nazim & Nguyen, Duc Khuong & Das, Narasingha, 2023. "Green financing of renewable energy generation: Capturing the role of exogenous moderation for ensuring sustainable development," Energy Economics, Elsevier, vol. 126(C).
    4. Pang, Lidong & Zhu, Meng Nan & Yu, Haiyan, 2022. "Is green finance really a blessing for green technology and carbon efficiency?," Energy Economics, Elsevier, vol. 114(C).
    5. Suborna Barua & Micol Chiesa, 2019. "Sustainable financing practices through green bonds: What affects the funding size?," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 1131-1147, September.
    6. Mathews, John A. & Hu, Mei-Chih & Wu, Ching-Yan, 2015. "Are the land and other resources required for total substitution of fossil fuel power systems impossibly large? Evidence from concentrating solar power and China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 46(C), pages 275-281.
    7. Andra-Nicoleta Mecu & Florentina Chițu & Gheorghe Hurduzeu, 2021. "The Potential of Green Bond Markets as Drivers of Change," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 24(82), pages 67-79, December,.
    8. Cashore, Benjamin & Nathan, Iben, 2020. "Can finance and market driven (FMD) interventions make “weak states” stronger? Lessons from the good governance norm complex in Cambodia," Ecological Economics, Elsevier, vol. 177(C).
    9. Keun Lee and John Mathews, 2013. "Science, technology and innovation for sustainable development," CDP Background Papers 016, United Nations, Department of Economics and Social Affairs.
    10. Cao, Xiao & Jin, Cheng & Ma, Wenjie, 2021. "Motivation of Chinese commercial banks to issue green bonds: Financing costs or regulatory arbitrage?," China Economic Review, Elsevier, vol. 66(C).
    11. Gao, Yang & Li, Yangyang & Wang, Yaojun, 2021. "Risk spillover and network connectedness analysis of China’s green bond and financial markets: Evidence from financial events of 2015–2020," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    12. Bhutta, Umair Saeed & Tariq, Adeel & Farrukh, Muhammad & Raza, Ali & Iqbal, Muhammad Khalid, 2022. "Green bonds for sustainable development: Review of literature on development and impact of green bonds," Technological Forecasting and Social Change, Elsevier, vol. 175(C).

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