An Ecological Impact Fund
Journal Title: Green and Low-Carbon Economy - Year 2023, Vol 1, Issue 1
Abstract
The Ecological Impact Fund (EIF) is a proposed new international financing facility that would enable originators of innovative green technologies to exchange some of their monopoly privileges in return for impact rewards. The invited exchange would apply only in the lower-income countries: originators choosing to forgo their monopoly markups in this EIF Zone would receive annual premiums based on the emission reductions achieved with deployments of their “greenovation” in that EIF Zone. The EIF’s main purpose is greatly to improve the diffusion of impactful green technologies in the Global South. It would do so first by inducing participating originators to waive licensing fees and monopoly markups, and second by giving these originators a financial interest in the wide and effective use of their participating innovations. In addition, the EIF would stimulate development of additional greenovations that – tailored to prevailing needs, cultures, circumstances, and preferences in the EIF Zone – would be especially impactful there. These two effects would produce a third: the EIF would help build capacities to develop, manufacture, distribute, install, operate, and maintain greenovations in the EIF Zone.
Authors and Affiliations
Thomas Pogge
Keywords
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