Towards an International Green Fund

This paper argues that an important institutional tool to accelerate the transition of the global economy towards greater reliance on renewable energy is the establishment of an International Green Fund (IGF). Such a fund would provide and coordinate financing of green investments and research and development on renewable energy around the world. With the support of such a fund, long-term investors who are already pursuing green investment projects on an ad-hoc basis would be able to scale up these investments and reap larger returns from learning-by-doing and scale economies.