Anglia Ruskin Research Online (ARRO)
Browse
DOCUMENT
Hafner_et_al_2021.pdf (1010.16 kB)
DOCUMENT
Hafner_et_al_2021.docx (865.07 kB)
1/0
2 files

Modelling the macroeconomic implications of a ‘closing the green finance gap’ policy scenario within a low-carbon energy transition

journal contribution
posted on 2023-08-30, 19:10 authored by Sarah Hafner, Aled Jones, Irene Monasterolo, Anger-Kravi Annela
Reaching the UK net-zero emissions target translates into substantial investment requirements into low-carbon energy infrastructure. However, investors are currently not investing sufficiently in renewable energy capacity, leading to the so-called green finance gap. Current energy-economy models generally do not reveal the macroeconomic implications of policies aimed at scaling-up green finance for energy transitions. In the light of this background, we extend the energy-economy Green Investment Barrier Model with the insights from a systematic literature review to investigate the macroeconomic implications of a policy scenario designed to close the green finance gap in combination with and without a scenario to decarbonise the power sector. We also compare the achieved results with studies focusing on a similar research question. We find that the closing the green finance gap policy scenario alongside a low-carbon power scenario leads to the co-benefits of lower power system costs and unemployment, and increases in GDP.

History

Refereed

  • Yes

Volume

40

Page range

536-568

Publication title

Environmental Innovation and Societal Transitions

ISSN

2210-4232

Publisher

Elsevier

File version

  • Accepted version

Language

  • eng

Legacy posted date

2021-10-18

Legacy creation date

2021-10-18

Legacy Faculty/School/Department

Faculty of Science & Engineering

Note

Accessibility note: If you require a more accessible version of this document, please contact us at arro@aru.ac.uk

Usage metrics

    ARU Outputs

    Categories

    No categories selected

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC