Climate finance governance: Fit for purpose?,WIREs Climate Change

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Climate finance governance: Fit for purpose?
WIREs Climate Change ( IF 9.4 ) Pub Date : 2021-05-01 , DOI: 10.1002/wcc.709
Sarah Bracking ₁ , Benjamin Leffel ₂

Affiliation

This article consists of a critical review of the conceptual scholarship on the governance of climate finance and includes an overview of the institutional arrangements and governance logics that provide climate finance. New decentralized, polycentric structures allow for climate finance to more effectively reach the sub- and non-state actors most directly implementing climate change governance. However, the expansion of climate finance into market-inflected forms of blended finance, as well as debt-based financing, express a neoliberal logic that shifts power to market actors. This may challenge the efficacy of climate finance. We suggest that further research is needed on polycentric systems in climate finance, since an apparent expansion in the diversity of providers is also accompanied by a counter-intuitive concentration of decision-making power with financial fund managers. We join others in suggesting that the weight of scholarship advocates for a strong return to public authored finance and governance, under the auspices of Green New Deal programs and more widely.

中文翻译：

气候金融治理：适合目的？

本文包括对气候融资治理概念学术的批判性回顾，并概述了提供气候融资的制度安排和治理逻辑。新的分散、多中心结构允许气候融资更有效地到达最直接实施气候变化治理的次国家和非国家行为体。然而，将气候融资扩展为受市场影响的混合融资形式以及基于债务的融资，表达了一种将权力转移给市场参与者的新自由主义逻辑。这可能会挑战气候融资的有效性。我们建议需要进一步研究气候融资中的多中心系统，因为供应商多样性的明显扩大也伴随着与金融基金经理的决策权相反的集中。我们与其他人一起建议，在绿色新政计划和更广泛的支持下，奖学金的重要性提倡大力回归公共编写的财政和治理。

更新日期：2021-06-10

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