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Institutional Investors and Green Infrastructure Investments: Selected Case Studies

Author

Listed:
  • Christopher Kaminker

    (OECD)

  • Osamu Kawanishi

    (OECD)

  • Fiona Stewart

    (OECD)

  • Ben Caldecott

    (University of Oxford)

  • Nicholas Howarth

    (University of Oxford)

Abstract

This report is structured in three chapters. The first chapter examines the channels through which institutional investors can access green infrastructure, assesses the extent to which this is currently happening, and identifies the barriers to scaling up these investment flows. The second chapter presents four case studies: on utility-scale solar PV power generation in the United States, sustainable agriculture in Brazil, off-shore wind energy in the United Kingdom, and the securitisation of on-shore wind farms in Germany and France. The third chapter uses the conclusions on the case studies to draw out broader lessons for governments on the policy settings which may support investment in green infrastructure by institutional investors. These include, inter alia, ensuring a stable and integrated policy environment, addressing market failures, providing an infrastructure road map, facilitating the development of appropriate green financing vehicles, and promoting market transparency and improved data collection. L'investissement institutionnel dans les infrastructures vertes : Études de cas Le présent rapport est divisé en trois chapitres. Le premier étudie les possibilités offertes aux investisseurs institutionnels pour financer des infrastructures vertes, l’étendue de l’expérience acquise à ce jour ainsi que les obstacles à la multiplication de ce type d’investissements. Le deuxième chapitre présente quatre études de cas relatives à la production centralisée d’électricité photovoltaïque aux États-Unis, l’agriculture durable au Brésil, l’énergie éolienne off-shore au Royaume-Uni et les centrales éoliennes terrestres en Allemagne et en France. De ces études de cas, le troisième chapitre tire des conclusions générales concernant la conception de politiques favorisant l’investissement institutionnel dans les infrastructures vertes. Il préconise notamment de créer un cadre d’action stable et harmonieux, d’éliminer les défaillances du marché, d’établir une feuille de route de la construction d’infrastructures, d’encourager la mise au point de mécanismes appropriés de financement verts et, enfin, d’améliorer la transparence des marchés et la collecte des données.

Suggested Citation

  • Christopher Kaminker & Osamu Kawanishi & Fiona Stewart & Ben Caldecott & Nicholas Howarth, 2013. "Institutional Investors and Green Infrastructure Investments: Selected Case Studies," OECD Working Papers on Finance, Insurance and Private Pensions 35, OECD Publishing.
  • Handle: RePEc:oec:dafaad:35-en
    DOI: 10.1787/5k3xr8k6jb0n-en
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    File URL: https://doi.org/10.1787/5k3xr8k6jb0n-en
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    1. repec:eee:jbrese:v:98:y:2019:i:c:p:450-461 is not listed on IDEAS

    More about this item

    Keywords

    croissance verte; fonds de pension; green bonds; green growth; infrastructure; infrastructure; insurance companies; obligations vertes; pension funds;

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • 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
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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