Handbook Of Green Finance: Energy Security And Sustainable Development
by Jeffrey Sachs /
2019 / English / PDF
15.4 MB Download
This handbook addresses the issues local economies may encounter in the context of the 2030 Agenda for Sustainable Development and innovative ways to finance local projects for implementing the Sustainable Development Goals (SDGs). The goal of this publication is to explore an innovative way of development and climate finance to support local economies in their effort to enhance socio-economic development and attract private investments to the businesses by keeping high rate of return from green energy. Even though so-called "green projects are closely linked to local development, in many cases, the projects are funded, therefore, selected and managed by central governments. On the other hand, local governments that are trying to implement their own development plan repeatedly face difficulties in financing their vital projects. The idea of Hometown Investment Trust (HIT) funds developed Prof. Naoyuki Yoshino, Dean of ADBI, suggests a way to channel funds to local governments and businesses so as to enable them to carry out their development and business plans, without relying to much on indirect financing. If properly coordinated, public investment funded by development or/and climate finance can benefit directly local businesses and stimulate further private investment and local economic growth. This feature of public finance is a key factor of improving aid effectiveness, and should be emphasized in the context of achieving the SDGs.
