Climate finance as an instrument to promote the green growth in developing countries PDF
Preview Climate finance as an instrument to promote the green growth in developing countries
SPRINGER BRIEFS IN CLIMATE STUDIES Antonio A. Romano Giuseppe Scandurra Alfonso Carfora Monica Ronghi Climate Finance as an Instrument to Promote the Green Growth in Developing Countries 123 SpringerBriefs in Climate Studies Moreinformationaboutthisseriesathttp://www.springer.com/series/11581 Antonio A. Romano (cid:129) Giuseppe Scandurra Alfonso Carfora (cid:129) Monica Ronghi Climate Finance as an Instrument to Promote the Green Growth in Developing Countries AntonioA.Romano GiuseppeScandurra DepartmentofManagementStudies DepartmentofManagementStudies andQuantitativeMethods andQuantitativeMethods UniversityofNaples“Parthenope” UniversityofNaples“Parthenope” Naples,Italy Naples,Italy AlfonsoCarfora MonicaRonghi ItalianRevenueAgency DepartmentofManagementStudies Rome,Italy andQuantitativeMethods UniversityofNaples“Parthenope” Naples,Italy ISSN2213-784X ISSN2213-7858 (electronic) SpringerBriefsinClimateStudies ISBN978-3-319-60710-8 ISBN978-3-319-60711-5 (eBook) DOI10.1007/978-3-319-60711-5 LibraryofCongressControlNumber:2017949179 ©TheEditor(s)(ifapplicable)andTheAuthor(s)2018 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpart of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation,broadcasting,reproductiononmicrofilmsorinanyotherphysicalway,andtransmissionor informationstorageandretrieval,electronicadaptation,computersoftware,orbysimilarordissimilar methodologynowknownorhereafterdeveloped. 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Printedonacid-freepaper ThisSpringerimprintispublishedbySpringerNature TheregisteredcompanyisSpringerInternationalPublishingAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland Contents 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1.1 IntroductionandBackground. . . . . . . . . . . . . . . . . . . . . . . . . . . 1 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2 ClimateChange. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2.1 EvolutionandPath. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2.2 NaturalGreenhouseEffect. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 2.3 TheFeedbackConcept. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 2.4 EnhancedGreenhouseEffect. . . . . . . . . . . . . . . . . . . . . . . . . . . 14 2.5 AdaptationandMitigation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 3 ClimateFinance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 3.1 FromRiodeJaneirotoMarrakech:aBriefSummary. . . . . . . . . . 23 3.2 FastStartFinance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 3.3 TheFrameworktoAssesstheClimateAction. . . . . . . . . . . . . . . 29 3.4 AnalysisofFlowofFundsfromDonorstoRecipients Countries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.4.1 Commitmentvs.Disbursement. . . . . . . . . . . . . . . . . . . . . 32 3.4.2 GeographicalDistributionofClimateFunds. . . . . . . . . . . 38 3.4.3 DisbursementandGHGEmissions. . . . . . . . . . . . . . . . . . 43 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 4 AssessingtheEffectivenessofClimateFinance:Composite IndicatorsandQuantileRegression. . . . . . . . . . . . . . . . . . . . . . . . . 49 4.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 4.2 CompositeIndicator:AnIntroduction. . . . . . . . . . . . . . . . . . . . . 50 4.2.1 ACompositeIndicatorforGHGEmissions:The EnvironmentalPollutionIndex. . . . . . . . . . . . . . . . . . . . . 54 4.3 QuantileRegressionwithClusterData. . . . . . . . . . . . . . . . . . . . 56 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 v vi Contents 5 EmpiricalStudyofClimateFinance. . . . . . . . . . . . . . . . . . . . . . . . . 61 5.1 Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 5.2 ResearchHypotheses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 5.3 ACompositeIndicatorforEnvironmentalPerformance. . . . . . . . 66 5.4 DistributionofClimateFunds:AWaytoCombat EnvironmentalDegradation?. . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 6 ConclusionsandPolicyImplications. . . . . . . . . . . . . . . . . . . . . . . . . 81 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 Appendices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 AppendixA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 PlotsandQuantileRegressionUsingRandStataCommands. . . . 85 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 AppendixB. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 Abbreviations UNFCCC UnitedNationsFrameworkConventiononClimateChange GHG Greenhousegasemissions COP ConferenceoftheParties USD USDollar SIDS SmallIslandDevelopingStates LDCs Leastdevelopedcountries GCF GreenClimateFund OECD OrganizationforEconomicCooperationandDevelopment EIT Economiesintransition GEF GlobalEnvironmentFacility CIFs ClimateInvestmentFunds AF AdaptationFund UNDP UnitedNationsDevelopmentProgramme UNEP UnitedNationsEnvironmentProgramme NGOs Non-governmentalorganizations RES Renewableenergysources ODA Officialdevelopmentassistance DAC DevelopmentAssistanceCommittee OOF Otherofficialflows CP3 ClimatePublicPrivatePartnership GNI Grossnationalincome EPI EnvironmentalPollutionIndex JICA JapanInternationalCooperationAgency JPP JapanPartnershipProgram CAIT ClimateAnalysisIndicatorsTool GDP Grossdomesticproduct CO Carbondioxide 2 IEA InternationalEnergyAgency CH Methane 4 vii viii Abbreviations N O Nitrousoxide 2 CFCs Chlorofluorocarbons HCFCs Hydrochlorofluorocarbons HFCs Hydrofluorocarbons PFCs Perfluorocarbons SF6 Sulfurhexafluoride CIs Compositeindicators BOD Benefitofthedoubt MPI Mazziotta-Paretoindex EW Equalweighting PCA Principalcomponentanalysis PCs Principalcomponents LAD Leastabsolutedeviation EIA USEnergyInformationAdministration List of Figures Fig.1.1 Expectedpathofsocial,economic,environmentaland economicvariablesbetween1990and2100........................ 2 Fig.2.1 Theequationsintheupperrightshowtheitemsinthe radiationbalanceoftheEarthSystem.Inyellowdisplays thecomponentsoftheradiantenergyfromthesun.Inred showslong-waveradiationemittedbytheEarthduetothe temperaturereachedbyit.The40W/m2“pierce”the atmosphereandpassdirectlyinspacethankstoa“window” transparenttothatfrequencyband.Thenaturalwarming effectoftheplanetissuesfrom333W/m2that GHGreflectonthesurfacethatemittedthem....................... 9 Fig.2.2 RadiationemittedandabsorbedbytheEarth’ssurfaceand fromtheatmosphere.Thefirststripshowsthefrequency spectra(wavelengths)ofradiationemittedbytheSunand theEarth.Thesecondstripreportsthetotalabsorption spectrumandthespreadofradiationoperatedbythe variouscomponentsoftheatmosphere.Thethirdstrip showstheabsorption-diffusionspectraattributableto eachoftheabovecomponents.Notetheprimaryroleof watervaporandthatofcarbondioxide.Thelattercloses the“window”relativetothefrequenciesofgreater intensityoftheemissionspectrumoftheEarth..................... 10 Fig.2.3 Someexamplesofsolarirradiationcyclesandenergy variationduetonaturalphenomena.Notethescale factorbetweenthefirstgraphandtheotherthree.Inthe firstofthethreegraphsitiscyclicaltrendsthatdevelop hundredsofthousandsofyears.Theotherthreedescribe decennialphenomena.Thefirstgraphshowstemperature anomaliesduetosmallvariationsinEarth’sorbit. ix
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