Tag Archive: Climate Fund

How to Finance Climate Change Mitigation and the Energy Transition

Developed countries have pledged US$ 30bn until 2012 and US$ 100bn until 2020 for mitigating climate change. In all likelihood and considering the dire state of many public finances, a promise involved politicians don’t expect to keep. Therefore, the question arises where the money could come from. A surprising yet intriguing suggestion is put forward in a report by the World Bank. Cutting US$ 40-66bn of annual fossil fuel subsidies in OECD states and investing them into financing climate change mitigation measures would not only cover the better part of the pledged money but also foster economic efficiency and of …