Climate change has become an increasingly serious threat to the world, demanding for faster and broader responses from the international society. One of the major challenges is financing. According to the data from the World Bank, around 90 trillion US dollars (USD) investment are needed by 2030 and much more is needed to achieve carbon neutral targets by the mid of this century. Financing demand at this level is obviously beyond the capability of traditional financial system. New financial instruments appeared as the consequence of increasing demand. Green bonds or climate bonds, for example, has become a popular instrument to support climate actions. The implementation of emission trading system (ETS) has also create new financial products under the general umbrella of carbon finance. Technical progress also provides new opportunities to provide financing resources to address climate actions.
Besides the fast development of climate-induced financial instruments, there is also a strong need to build a global climate finance architecture. Currently, the core institutional structure for climate finance is driven by international organizations, for example, development banks, the World Bank and United Nations. Advanced economies are main contributors and their climate investment links to recipient countries via bilateral or multilateral institutions. Institutional innovation is obviously another major challenges to better facilitate climate finance, meanwhile coping with climate-induced financial instabilities.
The new features and risk elements associated with climate finance have triggered intensive attention in the academic world. This special issue aims to create a platform for scholars across the world to exchange ideas from different perspectives, share experiences from countries, and explore the current status, challenges and future development of climate induced financial innovations.
Topics of interest in this special issue include, but are not limited to:
- Carbon finance: new instruments and market design
- Climate risks management with innovative financial instruments
- Climate-induced financial instability
- Financial innovation and green innovation
- Innovations on the climate financial infrastructure
- Innovative financial instruments to cope with climate change
- Institutional innovation to facilitate climate finance
Submission Deadline: December 31, 2023
Acceptance Deadline: December 31, 2024
Before submitting a paper to the special issue, the authors are further advised to seek guidance for Financial Innovation from the following URL: https://jfin-swufe.springeropen.com/submission-guidelines
Manuscripts should be submitted electronically through:
Authors are requested to select the special issue title (VSI: Climate-induced financial innovation) from the relevant drop-down menu during the submission process. Requests for further information should be addressed to the managing guest editor Dr. Qiang Ji ( firstname.lastname@example.org ).