Date of Award
Spring 2019
Degree
MS
Advisor
Jan Kregel, Ph.D.
Abstract
This paper proposes a financing mechanism that seeks to realize massive projected returns associated with holding global warming at below 1.5°C above pre-industrial levels. The IMF and national authorities of every participating country design 20-year Structural Environmental Adjustment Plans (SEAPs) that include preservation targets, emissions reductions, and investment budgets. Those budgets can either be self-financed or, where need is demonstrated, funded by the IMF using zero-interest loans that fully amortize through environmental outcomes. Maximum funding capacity is measured using Special Environmental Drawing Rights (SEDRs), an indefinite potential claim on the IMF’s freely usable currencies for climate finance regardless of future changes in global economic and financial power structures.
Access Control
Open Access
Recommended Citation
Akiki, Tamim Ephrem, "Leveraging Environmental Reserve Assets to Achieve a Sustainable Environment" (2019). Theses - Graduate Programs in Economic Theory and Policy. 22.
https://digitalcommons.bard.edu/levy_ms/22