ABSTRACT

This paper empirically evaluates how policy to mobilize climate finance works in practice. It examines the performance of nine types of climate finance policies, namely target lending, green bond policy, loan guarantee programmes, weather indexed insurance, feed-in-tariffs, tax credits, national development banks, disclosure policies and national climate funds, through a literature review and case studies. Both successful and unsuccessful country cases are examined. Criteria are established to evaluate climate finance policy, factors which lead to effective climate finance policy in practice are identified, current knowledge gaps are clarified, and policy implications provided.

Key Policy insights

• The effectiveness of climate finance policies depends on the criteria being used.

• Strengths and weaknesses exist for each of the climate finance policies.

• Feed-in tariffs, tax credits, loan guarantees, and national development banks are all effective at mobilizing private finance, but evidence to date is weak or thin on the effectiveness of national climate funds, targeted lending, disclosure, and green bonds.

• Significant data and research gaps exist regarding the empirical impacts of climate finance policies, especially their environmental and equity impacts.

• In selecting climate finance policies, a balance should be struck between mobilization effectiveness, economic efficiency, environmental integrity, and equity.

摘要

本文从经验上评估了动员气候融资政策在实践中的运作方式。它通过以下方式检查了九种气候融资政策的绩效，即目标贷款，绿色债券政策，贷款担保计划，天气指数保险，上网电价，税收抵免，国家开发银行，披露政策和国家气候基金。文献综述和案例研究。成功案例和失败案例都将被审查。建立了评估气候融资政策的标准，确定了在实践中导致有效的气候融资政策的因素，明确了当前的知识差距，并提供了政策含义。

重要政策见解

• 气候融资政策的有效性取决于所使用的标准。

• 每个气候融资政策都有优点和缺点。

• 上网电价，税收抵免，贷款担保和国家开发银行都可以有效地动员私人资金，但迄今为止，有关国家气候基金，定向贷款，披露和绿色债券的有效性的证据薄弱。

• 关于气候融资政策的经验影响，尤其是其环境和公平影响，存在大量数据和研究空白。

• 在选择气候融资政策时，应在动员有效性，经济效率，环境完整性和公平之间取得平衡。