Ivan Gaidutskiy, Ph.D.
Director of low-carbon economy institute.
Conceptual fundamentals of global anti-carbon fund
Limited capability of the existing international environment funds in financing of sustainable low-carbon development is considered in this article. The reasons are given that those limitations are introduced to the funds’ statutory instruments, including newly established Green Climate Fund. It is proved in the article that optional participation of countries and companies in those funds, voluntary character of contributions, lack of income consistency (based on fiscal revenues) doesn’t allow to fill the funds with sufficient resources necessary to finance anti-carbon measures. The scientific novelty of this article consists in developing special global anti-carbon fund concept. This concept implies inclusion of all carbon emissions producers (countries, companies), binding character and regularity of contributions to the fund basing on the principle "if you pollute more, you pay more", organization of systematic financing by fund of anti-carbon activities using principle "If you clean more and clean cheap, you receive more money". The practical meaning of this article consists in substantiation of principles and priorities of the global anti-carbon fund.
Keywords: Global Environment Fund; Climate Fund; Global Anti-Carbon Fund; criteria for establishing the fund; principles of fund’s activities.
Experience of the Global Environment Fund, Climate Fund and other international environment funds (there are more than 20 such facilities) has showed that the possibility of their investment in sustainable low-carbon development is very limited. Their annual investments in the mentioned sphere do not exceed 2-3% of the needs estimated by international organizations.