气候变化领域集成服务门户(CCPortal): Mobilizing private finance for coastal adaptation: A literature review

CCPortal

DOI	10.1002/wcc.514
	Mobilizing private finance for coastal adaptation: A literature review
	Bisaro A.; Hinkel J.
发表日期	2018
ISSN	1757-7780
EISSN	1757-7779
卷号	9 期号:3
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.
英文关键词	adaptation finance; coasts; public finance; public-private partnerships
语种	英语
scopus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; adaptive management; coastal zone; debt; finance; literature review; public-private partnership
来源期刊	Wiley Interdisciplinary Reviews: Climate Change
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/129957
作者单位	Global Climate Forum (GCF), Berlin, Germany
推荐引用方式 GB/T 7714	Bisaro A.,Hinkel J.. Mobilizing private finance for coastal adaptation: A literature review[J],2018,9(3).
APA	Bisaro A.,&Hinkel J..(2018).Mobilizing private finance for coastal adaptation: A literature review.Wiley Interdisciplinary Reviews: Climate Change,9(3).
MLA	Bisaro A.,et al."Mobilizing private finance for coastal adaptation: A literature review".Wiley Interdisciplinary Reviews: Climate Change 9.3(2018).