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Economics of Global Funds: United Nations Specialized Funds and Other Crypto, Crowdfunding, Green Funds

  • S. Niggol Seo
Chapter

Abstract

This final chapter of the book expands the discussion of the Green Climate Fund (GCF) to other global funds. Four important old and new global funds are reviewed: United Nations funds and specialized programs, crowdfunding, Bitcoin and cryptocurrencies, and various green funds such as the European Union’s CO2 permit. The review shows that many UN specialized programs share similar characteristics with the GCF and have overlapping areas of funding. The GCF is a type of crowdfunding for the global climate programs in which member nations are donors, but a majority of the crowdfunding projects are politically motivated appealing to a certain segment of the society. The Bitcoin system is transparent in creating and determining the value of a bitcoin through currency exchanges, but the GCF system relies on the GCF Board’s implicit determination of the value of a ton of CO2-equivalent emissions. Many green funds such as the EU’s emission trading scheme or the sulfur dioxide allowance trading in the US can be adapted to match the GCF’s project funding allocations, but the global scope of the GCF works would still remain the biggest challenge. Many important lessons can be learned from the past experiences of the green funds, which would augment the importance of the economic concepts presented in this book.

Keywords

United Nations Specialized funds Crowdfunding Bitcoin Green funds Emissions trading scheme 

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • S. Niggol Seo
    • 1
  1. 1.Muaebak Institute of Global Warming StudiesSeorim-dong, Gwanak-gu, SeoulKorea

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