The DOI matches its Crossref record.
The multiple roles of state investment banks in low-carbon energy finance: An analysis of Australia, the UK and Germany
Open accessAbstract
Low-carbon energy technologies (renewable energy and energy efficiency) are considered essential to achieve climate change mitigation goals, so a rapid deployment is needed. However there is a significant financing gap and many policymakers are concerned that investment for the large-scale deployment of low-carbon technologies will not materialise quickly enough. State investment banks (SIBs) can play a key role in closing this finance gap and leverage additional private finance. Based on 52 interviews, this paper presents empirical evidence on the role of three SIBs in addressing the barriers to financing low-carbon energy projects; the Clean Energy Finance Corporation (CEFC) in Australia, the Kreditanstalt fuer Wiederaufbau (KfW) in Germany and the Green Investment Bank (GIB) in the UK. We investigate the activities and financial instruments offered by SIBs and compare these to the need for such from low-carbon developers when sourcing finance. Findings show that aside from capital provision and de-risking, SIBs take a much broader role in catalysing private investments into low-carbon investments, including enabling financial sector learning, creating trust for projects and taking a first or early mover role to help projects gain a track record.
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Citations
Cited by
Sovacool, B. K. (2021) · Energy Research & Social Science · doi:10.1016/j.erss.2021.101916 · Cited by 614
Closing the green finance gap – a systems perspective
Hafner, S., Jones, A., Anger-Kraavi, A., & Pohl, J. (2020) · Environmental Innovation and Societal Transitions · doi:10.1016/j.eist.2019.11.007 · Cited by 318
Jin, Y., Gao, X., & Wang, M. (2021) · Energy Policy · doi:10.1016/j.enpol.2021.112254 · Cited by 242
Reviewing financing barriers and strategies for urban nature-based solutions
Toxopeus, H., & Polzin, F. (2021) · Journal of Environmental Management · doi:10.1016/j.jenvman.2021.112371 · Cited by 196
Nenavath, S. (2022) · Renewable Energy · doi:10.1016/j.renene.2022.05.020 · Cited by 181
Impact of green finance and fintech on sustainable economic growth: Empirical evidence from India
Nenavath, S., & Mishra, S. (2023) · Heliyon · doi:10.1016/j.heliyon.2023.e16301 · Cited by 137
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BackgroundGreener and cheaper: green monetary policy in the era of inflation and high interest rates
Aguila, N., & Wullweber, J. (2024) · Eurasian Economic Review · doi:10.1007/s40822-024-00266-y · Cited by 49
Ray, M., & Chakraborty, B. (2022) · Renewable Energy · doi:10.1016/j.renene.2022.05.091 · Cited by 19
Metadata
- Authors
- Geddes, A., Schmidt, T. S., & Steffen, B.
- Venue
- Energy Policy
- Publisher
- Elsevier BV
- Published
- 2018-04
- Volume
- 115
- Pages
- 158-170
- ISSN
- 0301-4215 (ISSN-L)
- OpenAlex
- W2791996175
- Cited by
- 317
- References
- 0
- FWCI
- 29.13
- Type
- journal article
- Language
- en
- Open access
- hybrid
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