Financing Environmental and Energy Transitions for Regions and Cities: Creating Local Solutions for Global Challenges

Paper for an OECD/EC Workshop on financing environmental and energy transitions.

59 Pages Posted: 8 Jun 2020

See all articles by Dirk Schoenmaker

Dirk Schoenmaker

Rotterdam School of Management, Erasmus University; Erasmus Research Institute of Management (ERIM); Centre for Economic Policy Research (CEPR)

Willem Schramade

RSM Erasmus University; Sustainable Finance Factory

Date Written: October 18, 2019

Abstract

To meet the Paris climate goals, we need serious environmental and energy transitions. Financing those transitions will require both the financial and the public sector to transcend business-as-usual and take on new roles and structures in this system change. Current financial practice lacks the structures to deal with local initiatives, and has a narrow focus on financial return calculations. For their part, subnational governments often lack the knowledge to take that role. This gap can be filled by adopting investment criteria based on integrated value, by educating students and practitioners on transitions and systems thinking, and by creating new structures that are adapted to local conditions, with active roles for city and regional governments.

Keywords: sustainable finance; transitions

Suggested Citation

Schoenmaker, Dirk and Schramade, Willem, Financing Environmental and Energy Transitions for Regions and Cities: Creating Local Solutions for Global Challenges (October 18, 2019). Paper for an OECD/EC Workshop on financing environmental and energy transitions., Available at SSRN: https://ssrn.com/abstract=3599981 or http://dx.doi.org/10.2139/ssrn.3599981

Dirk Schoenmaker (Contact Author)

Rotterdam School of Management, Erasmus University ( email )

P.O. Box 1738
Room T08-21
3000 DR Rotterdam
Netherlands

HOME PAGE: http://www.rsm.nl/people/dirk-schoenmaker/

Erasmus Research Institute of Management (ERIM) ( email )

P.O. Box 1738
3000 DR Rotterdam
Netherlands

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

Willem Schramade

RSM Erasmus University ( email )

P.O. Box 1738
Room T09-53
3000 DR Rotterdam
Netherlands

Sustainable Finance Factory ( email )

18
Rotterdam, 3034 SG
0682011037 (Phone)

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