Alternative financing for a sustainable energy transition: An institutionalist perspective
Résumé
This article adopts an institutionalist perspective in order to address the energy transition
process and to consider in particular the alternative financing mechanisms that would be able
to support a structural transformation that is sustainable in the long term. It argues that such a
transformation can be regarded in a holistic and broader way as an eco-transition process that
involves the whole society and economy and requires a societal public organization. A relevant
holistic approach to eco-transition should focus on the institutional conditions that are required
for a new sustainable and structural change framework. In this aim, the article points to the
features of the transition process that display the characteristics of a public good. The durable
provision of such a good does call for the transformation of the financing schemes in force to
support green investments beyond the usual opposition between market-friendly and
government-guided economic policies. A relevant avenue is to organize the financing of the
eco-transition under the supervision of public institutions even though the contribution of
private bodies might be valuable according to the rules of long-term non-speculative financial
support of markets.
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