| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Modelling the macroeconomics of a ‘closing the green finance gap’ scenario for an energy transition |
| Authors: | Hafner, Sarah Jones, Aled Anger-Kraavi, Annela Monasterolo, Irene |
| et. al: | No |
| DOI: | 10.1016/j.eist.2021.10.006 |
| Published in: | Environmental Innovation and Societal Transitions |
| Volume(Issue): | 40 |
| Page(s): | 536 |
| Pages to: | 568 |
| Issue Date: | 2-Nov-2021 |
| Publisher / Ed. Institution: | Elsevier |
| ISSN: | 2210-4224 2210-4232 |
| Language: | English |
| Subjects: | Green finance gap; Energy transition; Energy-economy model; System dynamics; Policy scenario |
| Subject (DDC): | 332.6: Investment 333.79: Energy |
| Abstract: | Reaching the UK net-zero emissions target translates into substantial investment requirements into low-carbon energy infrastructure. However, investors are currently not investing sufficiently in renewable energy capacity, leading to the so-called green finance gap. Current energy-economy models generally do not reveal the macroeconomic implications of policies aimed at scaling-up green finance for energy transitions. In the light of this background, we extend the energy-economy Green Investment Barrier Model with the insights from a systematic literature review to investigate the macroeconomic implications of a policy scenario designed to close the green finance gap in combination with and without a scenario to decarbonise the power sector. We also compare the achieved results with studies focusing on a similar research question. We find that the closing the green finance gap policy scenario alongside a low-carbon power scenario leads to the co-benefits of lower power system costs and unemployment, and increases in GDP. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/28376 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Departement: | School of Engineering |
| Appears in collections: | Publikationen School of Engineering |
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Hafner, S., Jones, A., Anger-Kraavi, A., & Monasterolo, I. (2021). Modelling the macroeconomics of a ‘closing the green finance gap’ scenario for an energy transition. Environmental Innovation and Societal Transitions, 40, 536–568. https://doi.org/10.1016/j.eist.2021.10.006
Hafner, S. et al. (2021) ‘Modelling the macroeconomics of a ‘closing the green finance gap’ scenario for an energy transition’, Environmental Innovation and Societal Transitions, 40, pp. 536–568. Available at: https://doi.org/10.1016/j.eist.2021.10.006.
S. Hafner, A. Jones, A. Anger-Kraavi, and I. Monasterolo, “Modelling the macroeconomics of a ‘closing the green finance gap’ scenario for an energy transition,” Environmental Innovation and Societal Transitions, vol. 40, pp. 536–568, Nov. 2021, doi: 10.1016/j.eist.2021.10.006.
HAFNER, Sarah, Aled JONES, Annela ANGER-KRAAVI und Irene MONASTEROLO, 2021. Modelling the macroeconomics of a ‘closing the green finance gap’ scenario for an energy transition. Environmental Innovation and Societal Transitions. 2 November 2021. Bd. 40, S. 536–568. DOI 10.1016/j.eist.2021.10.006
Hafner, Sarah, Aled Jones, Annela Anger-Kraavi, and Irene Monasterolo. 2021. “Modelling the Macroeconomics of a ‘Closing the Green Finance Gap’ Scenario for an Energy Transition.” Environmental Innovation and Societal Transitions 40 (November): 536–68. https://doi.org/10.1016/j.eist.2021.10.006.
Hafner, Sarah, et al. “Modelling the Macroeconomics of a ‘Closing the Green Finance Gap’ Scenario for an Energy Transition.” Environmental Innovation and Societal Transitions, vol. 40, Nov. 2021, pp. 536–68, https://doi.org/10.1016/j.eist.2021.10.006.
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