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Herausforderungen in der Finanzierung der Energiewende und Rolle des Risikokapitals

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  • Köppl-Turyna, Monika
  • Köppl, Stefan
  • Bittó, Virág

Abstract

In den kommenden Jahrzehnten wird der Klimawandel eine der größten Herausforderungen für die österreichische und europäische Wirtschaft darstellen. Zwar kann die österreichische Wirtschaft bereits als überdurchschnittlich energieeffizient bezeichnet werden, jedoch besteht die Notwendigkeit, CO2-Emissionen durch Investitionen und insbesondere Innovationen zu reduzieren. Darüber hinaus ist es aus geopolitischer Sicht wünschenswert, die Abhängigkeit von etwa russischen Gasimporten nicht durch weitere Abhängigkeiten zu ersetzen - wie etwa bei den Importen der Solarkomponenten, wo China nahezu Monopolposition genießt. Demnach ist der Ausbau von eigenen, europäischen Technologien ein zentrales Element, um Resilienz und Diversifizierung der Versorgung zu erreichen. Zu erwähnen ist auch, dass in Österreich verglichen zu anderen europäischen Ländern nur ein sehr geringer Anteil des BIP, der in Risikokapital investiert wird, von den Pensionskassen stammt. Dieser Beitrag beschäftigt sich mit der Frage, inwiefern Risikokapital, einen Beitrag zur Entwicklung grüner Technologien in Europa und Österreich leisten kann. Aufgrund der Besonderheiten der "Cleantech"-Branche ist eine Kooperation zwischen privater und öffentlicher Hand unabdingbar. Wir schlagen folgende Maßnahmen vor: 1. Sicherung der Nachfrage nach Grünen Technologien, um höhere Renditen und niedrigere Risiken für Kapitalgeber zu gewährleisten. 2. Verbesserung der Rahmenbedingungen für Risikokapitalgeber etwa durch eine Reform der Mitarbeiterbeteiligung oder der Besteuerung von Carried Interest. 3. Entwicklung von Spin-Off Strategien, die sich an Best Practices innerhalb Europas orientieren. 4. Indirekte (hybride) öffentliche Risikokapitalfinanzierung durch Dachfondsmodelle. 5. Öffentliche Kofinanzierung der Risikokapitalinvestitionen unter Beibehaltung der privaten Risikoprofile und marktüblichen Konditionen, um so Verzerrungen am Markt zu verhindern. 6. Ausbau der kapitalgedeckten Altersvorsorge, um somit auch Pensionskassen zu veranlassen künftig höhere Summen in Risikokapital zu investieren.

Suggested Citation

  • Köppl-Turyna, Monika & Köppl, Stefan & Bittó, Virág, 2022. "Herausforderungen in der Finanzierung der Energiewende und Rolle des Risikokapitals," Policy Notes 51, EcoAustria – Institute for Economic Research.
    • Handle: RePEc:zbw:ecoapn:51
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    References listed on IDEAS

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