State-owned enterprises (SOEs) present a powerful and important policy lever for many governments to implement reforms to achieve their ambitious climate mitigation and adaptation targets. On the one hand, SOEs are major sources of carbon dioxide (CO2) emissions globally, and they are vulnerable to climate change impacts and low-carbon transition risks. On the other hand, SOEs are also some of the biggest investors in the world in green technology, and, among low- and middle-income countries (LMICs), they account for the majority share of infrastructure investment that is essential to both mitigation and adaption. Given their ownership stakes, governments are well-positioned to directly influence SOE climate-relevant decisions through ownership, and regulatory and oversight policies, among other fiscal and public financial management reforms, for example, tax, expenditure, and investment policies. There is only limited research on the opportunities provided by SOE policy reform to help tackle climate change. To help address this gap, this note is intended to support SOE-climate action policy guidance, especially for LMICs. The note is organized into three sections: (1) overview; (2) considerations for integrating climate into SOE policies: literature and emerging approaches; and (3) implications for policy.
Details
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Author
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Document Date
2021/11/05
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Document Type
Working Paper
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Report Number
164952
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2021/11/05
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Disclosure Status
Disclosed
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Doc Name
State-Owned Enterprises and Climate Action
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Keywords
trade and investment; state-owned enterprise; climate action; corporate governance; Public Private Infrastructure Advisory Facility; public financial management reform; Below the Poverty Line; clear lines of accountability; lower cost of capital; impact of climate change; vulnerability to climate change; Adaptation to Climate Change; legal and regulatory framework; oil and gas company; solution to climate change; resilience to climate change; Management of Climate Risk; state ownership; climate change impact; corporate social responsibility; good governance practices; private sector company; fossil fuel subsidy; climate change economics; state-owned banks; climate change mitigation; public service delivery; environmental tax reform; implications for policy; rising sea levels; national climate; electric power station; renewable energy source; private sector counterpart; wind energy potential; assessment of risk; global value chain; building power plant; loss of livelihood; business development plan; national energy strategy; electricity and gas; natural resource use; coal power station; emissions reduction target; opportunity for governments; balance of investment; fossil fuel price; emerging market country; water and electricity; national climate change; public service mandate; power sector investment; increase in temperature; electricity generation technology; infrastructure investment commitment; taxes on goods; fossil fuel technology; institutional capacity building; international good practice; higher fuel price; national climate policy; intensity of hurricanes; standards of governance; public service obligation; growth and development; sea level rise; improving energy efficiency; power generation capacity; source of energy; investment and procurement; income developing country; global public good; Climate Change Policy; development research center; prevailing interest rate; innovation and growth; public investment management; coal power plant; corporate climate; reduced air pollution; public sector specialist; role of state; renewable energy investment; global energy demand; climate action plan; lower carbon emission; Oil & Gas; cost of debt; greenhouse gas emission; electricity generation sector
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Citation
De Kleine Feige,Annette I.
State-Owned Enterprises and Climate Action (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/886671636136930215/State-Owned-Enterprises-and-Climate-Action