chapter  1
16 Pages

International monetary system, energy, and sustainable development: an overview

ByPATRICK A. MESSERLIN, YUNG CHUL PARK

Green-growth finance is finance that specializes in green growth, it is finance that promotes activities conducive to green growth and discourages activities harmful to it. Global green-growth finance can be a means of fostering green growth in all countries. By allocating funds in the right places, global green growth finance can help the world to achieve green growth goals. The G20 countries would better make it sure that green growth would proceed vigorously in their own countries. The most financial institutions do not have adequate manpower to handle green growth related businesses. If these institutions can be persuaded to go green and become global green growth finance companies, global green growth finance can be jump started without much difficulty. Currently, environmental goods and major natural resources are priced below their social marginal costs. Finally in this regard, the newly created Green Climate Fund (GCF) and Global Green Growth Institute (GGGI) should play more active roles.