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Assessing the investment climate for climate investments : a comparative framework for clean energy investments in South Asia in a global context

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  • Mani, Muthukumara S.

Abstract

One of the strong messages that came out of the recent United Nations Climate Change conference in Durban was that the private sector has to play an important role if we are to globally move toward a low carbon, climate resilient -- or"climate compatible"-- future. However, private investment will only flow at the scale and pace necessary if it is supported by clear, credible, and long-term policy frameworks that shift the risk-reward balance in favor of less carbon-intensive investment. The private sector also needs information on where to invest in clean energy in emerging markets, and it needs policy support to lower investment risk. Barriers to low carbon investments often include unclear and inconsistent energy policies, monopoly structures for existing producers, stronger incentives for conventional energy than clean energy, and a domestic financial sector not experienced in new technologies. With the long-term goal of promoting and accelerating the implementation of climate mitigation technologies, this study aims to facilitate development of a policy framework for promoting sustainable investment climates for clean energy investments in South Asia and elsewhere. A key aspect of the study is also the pilot construction of the Climate Investment Readiness Index for several countries. The index is a tool to objectively evaluate the enabling environment for supporting private sector investment in select climate mitigation or low carbon technologies.

Suggested Citation

  • Mani, Muthukumara S., 2012. "Assessing the investment climate for climate investments : a comparative framework for clean energy investments in South Asia in a global context," Policy Research Working Paper Series 6211, The World Bank.
  • Handle: RePEc:wbk:wbrwps:6211
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    References listed on IDEAS

    as
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    3. Bhattacharya, Soma & Cropper, Maureen L., 2010. "Options for Energy Efficiency in India and Barriers to Their Adoption: A Scoping Study," Discussion Papers dp-10-20, Resources For the Future.
    4. Jacob Funk Kirkegaard & Thilo Hanemann & Lutz Weischer, 2009. "It Should Be a Breeze: Harnessing the Potential of Open Trade and Investment Flows in the Wind Energy Industry," Working Paper Series WP09-14, Peterson Institute for International Economics.
    5. Hoekman, Bernard M. & Maskus, Keith E. & Saggi, Kamal, 2005. "Transfer of technology to developing countries: Unilateral and multilateral policy options," World Development, Elsevier, vol. 33(10), pages 1587-1602, October.
    6. Jaffe, Adam B. & Stavins, Robert N., 1994. "The energy paradox and the diffusion of conservation technology," Resource and Energy Economics, Elsevier, vol. 16(2), pages 91-122, May.
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    Keywords

    Energy Production and Transportation; Environmental Economics&Policies; Climate Change Mitigation and Green House Gases; Climate Change Economics; Debt Markets;

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