Bauer, Steffen (2015)
Die aktuelle Kolumne, 29 June 2015
25 June 2015. Less than three weeks have passed since the G7 leaders explicitly committed to the "decarbonisation of the global economy" at Schloss Elmau. Once again, Angela Merkel was lauded as the Climate Chancellor. Yet the word from Germany's Economics Ministry is that the envisaged climate levy for coal-fired power plants has been scrapped. If this is true, it would only underscore the fact that decarbonisation is no mean feat.
While in sub-Saharan Africa local currency bond markets have remained weakly developed, it is important to promote their development as they have significant potential to mobilise the long-term financial resources needed for achieving the sustainable development goals (SDGs).
The third UN Conference on Financing for Development from 13-16 July in Addis Ababa will pave the way for the implementation of the post-2015 development agenda. Trade finance should be an important component of the future framework for the financing of sustainable development.
Developing countries signed international investment agreements to attract foreign investments. The empirical evidence suggests they are no panacea in this respect. A debate is needed about how these agreements can be reformed to promote foreign investments while preserving policy space.
In many developing and emerging economies, central banks have begun over the past decade to place renewed emphasis on the promotion of economic development and structural transformation, looking beyond narrow mandates for macroeconomic stability.