DOI: 10.1002/wcc.514
Scopus记录号: 2-s2.0-85045527380
论文题名: Mobilizing private finance for coastal adaptation: A literature review
作者: Bisaro A ; , Hinkel J
刊名: Wiley Interdisciplinary Reviews: Climate Change
ISSN: 17577780
出版年: 2018
卷: 9, 期: 3 语种: 英语
英文关键词: Climate change
; Coastal zones
; Construction industry
; Privatization
; Risk management
; Shore protection
; Taxation
; Adaptation to climate changes
; Climate change impact
; Construction companies
; Institutional investments
; Private investment
; Private partnerships
; Public finance
; Public private partnerships
; Investments
英文摘要: Coastal adaptation can reduce climate change impacts and investing now, though costly, will bring greater benefits over the longer term, particularly in urban areas. Yet public actors currently cover a small fraction of needed coastal adaptation investments, a finance gap set to widen as coastal adaptation costs continue to increase. Mobilizing private finance for coastal adaptation is thus a salient challenge, as emphasized in the Paris Agreement. Key under-researched dimensions of this challenge are what promotes private investment in coastal adaptation and how can public actors’ interest in adaptation be aligned with private investor interests. To address this, we review the literatures on coastal adaptation finance and on financial arrangements involving both public actors and private investors. We describe key actors and interests, and identify coastal financial arrangements that align public actor and private investor interests, finding that private provisioning, public–private Partnerships (PPP), and public debt arrangements are promising. We then survey empirical examples, finding that private provisioning attracts investment when returns are high, for example, in urban real estate, and that PPPs attract dredging and construction companies’ investment, particularly for adaptation measures with a large share of operational costs, for example, beach nourishment. We find little evidence of institutional investment through public debt instruments. A number of policy instruments, for example, concessional loans, tax incentives, and standards, may address this gap and enhance private coastal adaptation investment. Our results are also relevant for other sectors that involve long-term infrastructure adaptation measures. This article is categorized under: Climate Economics > Iterative Risk-Management Policy Portfolios Vulnerability and Adaptation to Climate Change > Learning from Cases and Analogies. © 2018 Wiley Periodicals, Inc. Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/76117
Appears in Collections: 影响、适应和脆弱性 气候变化与战略
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作者单位: Global Climate Forum (GCF), Berlin, Germany
Recommended Citation:
Bisaro A,, Hinkel J. Mobilizing private finance for coastal adaptation: A literature review[J]. Wiley Interdisciplinary Reviews: Climate Change,2018-01-01,9(3)