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Closing the green finance gap – a systems perspective
journal contribution
posted on 2023-08-30, 16:46 authored by Sarah Hafner, Aled Jones, Annela Anger-Kraavi, Jan PohlMeeting its climate policy objectives requires the UK to rapidly decarbonise its energy sector. This demands high levels of investments into low carbon energy infrastructure, which are currently not undertaken at required scale, leading to a green finance gap. We explore (1) key investment barriers, (2) a theoretical framework for investigation and (3) possible solutions, drawing on a review of academic literature and policy reports, and interviews conducted with financial investors and experts. Our study confirms that policy uncertainty and short-termism in the financial system are the two main investment barriers. Our results show that identified barriers form a complex system characterised by path-dependency, lock-in and non-linearity. We recommend the adoption of systems theory as an analytical framework to inform the related policy debate and propose the expansion or development of sustainable investment vehicles as a useful near-term solution while preparing a long-term policy intervention based on a systems perspective.
History
Refereed
- Yes
Volume
34Page range
26-60Publication title
Environmental Innovation and Societal TransitionsISSN
2210-4232External DOI
Publisher
ElsevierFile version
- Accepted version
Language
- eng
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Legacy posted date
2019-11-19Legacy creation date
2019-11-19Legacy Faculty/School/Department
Faculty of Science & EngineeringUsage metrics
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