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Mobilizing private finance for low-carbon innovation – A systematic review of barriers and solutions

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  • Polzin, Friedemann

Abstract

This paper analyses the field of innovation studies regarding barriers to low-carbon innovation and consequences for finance (investment and divestment) and contributes to a more holistic understanding of the underlying mechanisms. A combination of technological barriers combined with economic barriers, institutional and political barriers contribute to sub-optimal low-carbon investment all along the innovation cycle. Policy makers need to take a systemic approach to enable the redirection of diverse private financial sources. Instruments range from cutting ‘dirty’ (R&D) subsidies and support for clean technology innovation and diffusion, levelling the institutional playing field and making risks of high-carbon and low-carbon technologies transparent to providing a consistent but adaptive long-term transition strategy. This would allow financiers to gradually shift their investments away from high-carbon mainstream markets and scale low-carbon technology niche-markets. However financiers also need to sharpen their competencies with regard to new clean technologies and markets.

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  • Polzin, Friedemann, 2017. "Mobilizing private finance for low-carbon innovation – A systematic review of barriers and solutions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 77(C), pages 525-535.
  • Handle: RePEc:eee:rensus:v:77:y:2017:i:c:p:525-535
    DOI: 10.1016/j.rser.2017.04.007
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    More about this item

    Keywords

    O33; O38; G21; G23; G28; Barriers to low-carbon innovation; Private financing instruments; Government policy;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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    Access and download statistics

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