The 11th Policy Platform (PoP) Seminar
Institutional Evolution of Environmental Finance and Innovation:
Possibilities and Challenges to Japan in the Context of Globalization

主催:東京大学公共政策大学院 科学技術イノベーション政策の科学教育・研究ユニット
講演者:Dr. Janelle Knox-Hayes, Assistant Professor, School of Public Policy, Georgia Institute of Technology, Atlanta, Georgia, United States

15:00-15:05 開会挨拶
   東京大学公共政策大学院 副院長・教授 城山英明
15:05-16:30 講演
“Environmental Finance: Developing emissions markets to direct clean energy under different models of governance”
Dr. Janelle Knox-Hayes, Assistant Professor, School of Public Policy, Georgia Institute of Technology, United States; and Research Associate, Department of Geography and Environment, University of Oxford, United Kingdom

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The relationship between finance and economic growth is a long debated topic within economic geography. In this presentation, analysis of emerging carbon emissions markets in the United States, Europe, China and Japan is used to explore the relationship between finance and economic growth. Carbon markets lend unique insight into the operation of finance because they are built in advance of the underlying commodities markets (clean energy markets) they are meant to influence. In each case, the varying relationship between finance and industry has had an impact on shaping the markets, and in turn has influenced their ability to direct investment into clean energy. In Europe, institutional logics of finance and have created a low growth but stable investment in clean energy. In the United States, the predominance of financial markets, with little emphasis on industry, has directed investment away from clean energy and into other modes of finance. In Japan, the emphasis on manufacturing and heavy industry have nested the emissions markets in logics of technology transfer and clean energy development, but the absence of financial innovation has inhibited the growth of underlying clean energy markets. In China, centralized authority has enabled the government to leverage foreign investment into wind and solar industries, but the absence of price discovery and insufficient market depth has led to a collapse in clean energy demand. The most successful economies are able to balance the influence of financial and industrial sectors in the creation and operation of new markets.

金井司 三井住友信託銀行経営企画部CSR担当部長

16:30-17:00 Q&A+ディスカッション

科学技術イノベーション政策の科学教育プログラムでは、産・官・学をつなぐプラットフォーム構築の場として、Policy Platform Seminar(PoPセミナー)を開催しています。