“My proposal is setting up an investment fund for long-term investments” to counter the economic crisis triggered by COVID-19, Edenhofer said in his keynote. “This fund could issue fiscal bonds with a maturity of 50 years and should provide a credit rate below the market interest rate, for green investments, for sustainable investments, for resilient investments.” The fund could “include a shadow carbon price”, Edenhofer stated.
High-ranking decision-makers participated in the discussions. Ottmar Edenhofer was on a panel with Svenja Schulze, German Minister of the Environment, along with Laurence Tubiana, head of the European Climate Foundation and France’s key negotiator at the breakthrough 2015 climate summit. Gunnar Luderer was on a panel with the Saudia Arabia’s chief negotiator on climate change issues, Khalid Abduleif, as well as Adair Turner, chair of the Energy Transitions Commissions. Further participants included Germany’s Finance Minister Olaf Scholz, Greg Medcraft of OECD, the head of Charité virology Christian Drosten, Jean-Claude Trichet from Banque de France, and a number of international G20 sherpas.
The Global Solutions Initiative is a global collaborative enterprise comprised of a network of world-renowned think tanks. It proposes policy responses to major global problems, addressed by the G20, the G7 and other global governance fora. It was founded during the 2017 German G20 Presidency by the Initiative’s President Dennis J. Snower, President of the Kiel Institute for the World Economy.
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