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How can finance be used to combat climate change?

In: Standing up for a Sustainable World

Author

Listed:
  • Alain Grandjean

Abstract

The fight against climate change requires very significant investments in many economic sectors. This requires mobilising very substantial funding. The article suggests that beyond the establishment of carbon prices, which is necessary for the private sector to properly guide its investment decisions, the intervention of public investment banks, financial regulators and central banks should be considered. Public banks should stop financing projects. Capital rules imposed on banks should incorporate a climate criterion so that they have an incentive to finance low-carbon investments. The Central Bank should also do so in the choice of securities it accepts as collateral or purchases in its Quantitative Easing programmes.

Suggested Citation

  • Alain Grandjean, 2020. "How can finance be used to combat climate change?," Chapters, in: Claude Henry & Johan Rockström & Nicholas Stern (ed.), Standing up for a Sustainable World, chapter 50, pages 351-359, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20009_50
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