Skip to content

Author: Megan Bowman

  • «
  • 1
  • »

The search returned 2 results.

Polaris and Pluralism: Presenting a Legal Analytical Framework for Climate Finance journal article

Megan Bowman

Carbon & Climate Law Review, Volume 17 (2023), Issue 1, Page 3 - 25

A global transition to a low-carbon and climate resilient world will require trillions of dollars of finance and investment which raises questions, instrumental and normative, about how best to harness the private sector for public benefit and the optimal role for law and regulation in enabling climate finance. Taking Article 2.1(c) of the Paris Agreement as its North Star, this article contributes a new and much-needed legal voice to the ontological discourse about climate finance. It makes explicit why and how national law and regulation are required to shape the rapidly evolving field of climate finance where sources and channels of capital are diversifying and multiplying out of necessity to meet Paris objectives. Specifically, it interweaves theories of regulatory capitalism and regulatory pluralism with empirical findings to present a novel Legal Analytical Framework for Climate Finance comprising financial mechanisms and facilitative modalities and the legal forms they can take in order to shine light on an emerging field; that of climate finance law and regulation.

Turning Promises into Action: ‘Legal Readiness for Climate Finance’ and Implementing the Paris Agreement journal article

Megan Bowman

Carbon & Climate Law Review, Volume 16 (2022), Issue 1, Page 41 - 55

A clear imperative in addressing the climate crisis is to turn finance promises into climate action. This article explores this challenge through the lens of the emerging concept of ‘legal readiness for climate finance’. It is defined as the degree to which a country has coherent regulatory architecture in place, together with requisite domestic technical expertise and institutional capacity, to systematically attract and mobilise finance at scale to address climate change and its impacts. Legal readiness is relevant for all countries; yet it is especially pressing for developing countries that must mobilise finance for implementation of Nationally Determined Contributions pursuant to the Paris Agreement in the context of sustainable development. By drawing on empirical data and theories of regulation, this article presents pioneering research on the legal and regulatory dimensions of climate finance with particular attention to mobilising private finance. It addresses three core questions: what is legal readiness for climate finance; why should countries pursue it; and how can they retain it in light of political vicissitude? In addressing these questions, this article also explores three key learnings about legal readiness for climate finance for the benefit of decision makers in developing countries: strengthen national law and regulation for ‘putting out’ as well as ‘calling in’ climate finance; pursue an integrated regulatory framework to enhance institutional coherence; and seek support from multilateral financial institutions such as the Green Climate Fund for regulatory mapping as well as technical and institutional capacity building (not just project funding). At its heart, this article encourages decision makers to see the challenge of financial implementation of the Paris Agreement as an opportunity for endogenous empowerment.

  • «
  • 1
  • »

News


Current Issue

Issue 3 / 2023