Introduction

Abstract

Planetary boundaries and a scarcity of natural resources require a significant boost of investment into clean and renewable energy and a more efficient use of resources in developing, emerging and advanced economies alike. Addressing climate change globally requires the mobilisation of unprecedented financial resources. Developing and emerging economies face a particular challenge, since they not only need to mobilise resources for climate change adaptation and mitigation, but also have to address more imminent challenges such as infrastructure investments and poverty reduction. The development needs of societies and environmental sustainability need to be reconciled by moving towards a “green transformation” which puts “green growth at the heart of development” (OECD 2013).¹ Green growth can be defined as the “improvement of ecological quality of growth that simultaneously realizes economic expansion, improvement of welfare, poverty reduction and environmental protection, and emphasizes eco-efficiency of consumption as well as production” (Mori 2013: 5).