Carbon markets or climate finance? : low carbon and adaptation investment choices for the developing world / edited by Axel Michaelowa.

Format:

Book

Contributor:

Michaelowa, Axel.

Series:

Routledge explorations in environmental economics ; 34.

Routledge explorations in environmental economics ; 34

Language:

English

Subjects (All):

Emissions trading--Developing countries.

Emissions trading.

Environmental impact charges--Developing countries.

Environmental impact charges.

Carbon dioxide mitigation--Developing countries.

Carbon dioxide mitigation.

Greenhouse effect, Atmospheric--International cooperation.

Greenhouse effect, Atmospheric.

Developing countries.

Physical Description:

xxvii, 286 pages : illustrations ; 24 cm.

Place of Publication:

Milton Park, Abingdon, Oxon ; New York : Routledge, 2012.

Summary:

"After the failure of the Copenhagen conference, climate finance has become the buzzword of international climate negotiations. A "fast-track" volume of 30 billion $ has been promised by industrialised countries for emissions mitigation and adaptation activities in developing countries. A frantic race for access to these funds has begun with little consideration of how an effective allocation could be achieved. This could lead to a backlash against climate finance once the first headlines about misuse of funds appear. This book builds on a decade-long experience with mechanisms provided by the Kyoto Protocol and the UN Framework Convention on Climate Change. It discusses the challenges of climate finance in the context of the post-Copenhagen negotiations and provides a long-term outlook of how climate finance in developing countries could develop. Written by climate finance experts from academia, carbon finance businesses and international organisations, the book provides background, firsthand insights, case studies and analysis into the complex subject area of climate finance"-- Provided by publisher.

Contents:

1 The Clean Development Mechanism gold rush / Axel Michaelowa Michaelowa, Axel, Jorund Buen Buen, Jorund 1

1 The CDM: from Cinderella to fairy princess 1

2 What were the reasons for the CDM gold rush? 3

3 Which technologies and countries benefited the most? 9

4 In which fields did the CDM underperform and would need reform? 18

5 The risk of marginalization of the CDM 29

6 Future climate finance: key lessons from the CDM gold rush 31

7 There is life after the gold rush: how a maturing CDM can become the cornerstone of global climate policy 33

2 Development cooperation and climate change: political-economic determinants of adaptation aid / Katharina Michaelowa Michaelowa, Katharina, Axel Michaelowa Michaelowa, Axel 39

1 Introduction 39

2 Adaptation versus mitigation aid: why donors might behave differently 40

3 The data 42

4 Econometric analysis 45

5 Conclusions 50

3 How Brazil and China have financed industry development and energy security initiatives that support mitigation objectives / Jorund Buen Buen, Jorund, Paula Castro Castro, Paula 53

1 Introduction 53

2 The Brazilian National Alcohol Programme ProAlcool 54

3 Wind power development in China 64

4 Lessons for financing emission reduction initiatives in developing countries 79

5 Concluding remarks 83

4 The Adaptation Fund: towards resilient economies in the developing world / Izabela Ratajczak-Juszko Ratajczak-Juszko, Izabela 92

1 Introduction 92

2 The UN Framework Convention on Climate Change and Kyoto Protocol provisions on adaptation 93

3 Financial needs for adaptation in developing countries 94

4 The Adaptation Fund under the Kyoto Protocol 95

5 The importance of capacity building and enabling conditions 108

6 Regional approach to access modality 109

7 The challenge of defining most vulnerable countries 109

8 Lessons learned from the Adaptation Fund and policy implications for the Green Climate Fund 110

9 Conclusions 112

5 Fast-start finance: scattered governance, information and programmes / Martin Stadelmann Stadelmann, Martin, Jessica Brown Brown, Jessica, Lena Hörnlein Hörnlein, Lena 117

1 Introduction: how fast-start finance has emerged 117

2 Fast-start finance: overview of current knowledge 118

3 Governance and transparency of fast-start finance 127

4 Sourcing of 'new and additional' fast-start finance 128

5 Channelling of fast-start funding: decentralized structures 130

6 Spending fast-start finance: scattered programmes and unknown effectiveness 132

7 Conclusions 137

6 New market mechanisms for mitigation: getting the incentives right / Sonja Butzengeiger Butzengeiger, Sonja, Björn Dransfeld Dransfeld, Björn, Martin Cames Cames, Martin, Axel Michaelowa Michaelowa, Axel, Sean Healy Healy, Sean 146

1 Introduction 146

2 Functioning of new market mechanisms 148

3 Incentivizing actors under new market mechanisms 151

4 Incentives: instruments and measures 156

5 Views of selected actors 160

6 Selected experiences 161

7 Implications for the concept of new market mechanisms 164

7 Mobilizing mitigation policies in the South through a financing mix / Daisuke Hayashi Hayashi, Daisuke, Stefan Wehner Wehner, Stefan 168

1 Introduction 168

2 Where do we stand with NAMAs? 169

3 Supported NAMA for a residential building programme in Mexico 176

4 Conclusions 185

8 Market mechanisms for adaptation: an aberration or a key source of finance? / Axel Michaelowa Michaelowa, Axel, Michel Köhler Köhler, Michel, Sonja Butzengeiger Butzengeiger, Sonja 188

1 Introduction: background to adaptation market mechanisms 188

2 General functioning of an adaptation market mechanism 189

3 Major chances and advantages of an adaptation market mechanism 192

4 Major challenges and disadvantages 196

5 Conclusions 204

9 Harnessing the financial markets to leverage low-carbon technology diffusion / Katie Sullivan Sullivan, Katie 209

1 Introduction 209

2 Green NAMA Bonds: the basic concept 210

3 Key design elements of Green NAMA Bonds 211

4 A Pilot for Green NAMA Bonds 218

5 Conclusions 218

10 Climate finance and backstop technologies / Sonja Butzengeiger Butzengeiger, Sonja, Axel Michaelowa Michaelowa, Axel 222

1 Introduction 222

2 Benefits of a super transformational technology with regards to long-term climate policy 224

3 Financial benefits of the STT linked to climate change mitigation 233

4 Economic challenges from the availability of a super transformational technology 234

5 Cornerstone of transition policy: a power transformation levy to maximize global benefits of the STT 236

6 Mobilizing development and economic diversification through the Power Transition Levy 242

7 National challenges: strategy for transforming the energy sector 247

8 Summary 249

11 Manoeuvring climate finance around the pitfalls: finding the right policy mix / Axel Michaelowa Michaelowa, Axel 255

1 Climate finance: how can we prevent the current boom turning into a bust? 255

2 Challenges to climate finance 256

3 How did development finance overcome its challenges? 257

4 Preconditions for successful mitigation and adaptation in developing countries 258

5 Will market mechanisms or public funds prevail? 259

6 Future climate crises and their impacts on climate finance 262

7 A roadmap for climate finance 262.

Notes:

Includes bibliographical references and index.

ISBN:

9781849714747

1849714746

9780203128879

0203128877

OCLC:

742512385