Climate Action

Living Edition
| Editors: Walter Leal Filho, Anabela Marisa Azul, Luciana Brandli, Pinar Gökcin Özuyar, Tony Wall

Sovereign Wealth Funds and Public Financing for Climate Action

Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-71063-1_130-1

Definitions

Sovereign wealth funds (SWFs) are savings and investment vehicles established out of receipts from the extractive and trading operations of finite natural resources, trade surpluses, or pension contributions. Serving primarily fiscal and macroeconomic purposes and/or intergenerational welfare purposes, SWFs hold, manage, and/or administer assets with financial objectives, developing a set of investment strategies. SWFs vary in geographical distribution, source of wealth, and objectives. Numerous SWFs are found in developing countries, and a significant number of SWFs manage revenues from hydrocarbon exports.

Introduction

The 2018 Special Report of the Intergovernmental Panel on Climate Change calls for measures to limit global warming to 1.5 °C, beyond which the risk of drought, floods, extreme heat, and poverty for hundreds of millions of people will significantly worsen. There is thus immediate need to implement globally robust climate policies and to transform the energy...

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Authors and Affiliations

  1. 1.Department of Economics, University of IoanninaAthensGreece
  2. 2.Norwegian Institute of International Affairs (NUPI)OsloNorway

Section editors and affiliations

  • Federica Doni
    • 1
  1. 1.Department of Business and LawUniversity of Milano-BicoccaMilanItaly