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The role of climate finance beyond renewables: demand-side management and carbon capture, usage and storage

Warren, P; (2019) The role of climate finance beyond renewables: demand-side management and carbon capture, usage and storage. Climate Policy , 19 (7) pp. 861-877. 10.1080/14693062.2019.1605330. Green open access

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Abstract

Mobilizing climate finance for climate change mitigation is a crucial part of meeting the ‘well-below’ 2°C goal of the Paris Agreement. Climate finance refers to investments specifically in climate change mitigation and adaptation activities, which involve public finance and the leveraging of private finance. A large proportion of climate finance is Official Development Assistance (ODA) from OECD countries to ODA-eligible countries. The evidence shows that the largest proportion of climate finance for climate change mitigation has been channelled to the development of renewable energy, with a much smaller proportion flowing to other crucial forms of clean energy-related measures, such as demand-side management (DSM) (particularly sustainable cooling) and carbon capture, usage and storage (CCUS). This forms the rationale and aim of this synthesis paper: to review the role of climate finance to develop clean energy beyond renewables. In doing so, the paper draws on practical policy and programme experiences of some donor countries, such as the UK, and Development Finance Institutions (DFIs). This paper argues that a greater amount of climate finance from OECD countries to ODA-eligible fossil fuel-intensive emerging economies and developing countries is required for sustainable cooling and CCUS, particularly in the form of technical assistance and clean energy innovation.

Type: Article
Title: The role of climate finance beyond renewables: demand-side management and carbon capture, usage and storage
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/14693062.2019.1605330
Publisher version: https://doi.org/10.1080/14693062.2019.1605330
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Climate finance, green finance, demand-side management (DSM), sustainable cooling, carbon capture, usage and storage (CCUS), technical assistance, innovation
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/10092583
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