The purpose of this initiative is to provide an academic research space where different innovative financing channels for the transition (financial engineering and regulation) are examined, as well as the tools for assessing their performance.
The work carried out by the Committee of Experts for the National Debate on the Ecological Transition has made it possible to reveal various major issues linked to the implementation of the transition. Today we have several transition trajectories (inspired by various scenarios: Negatep, Ademe, Ancre, Negawatt …) which are distinguished by the evolution of the level of energy demand, by the penetration of new uses (behaviors and technologies), by the nature of the energy mix envisaged and by the speed of implementation of these changes by 2050.
This general theme will be broken down around three axes:
Axis 1: Micro-economic foundations of the energy transition
This research axis aims to provide a conceptual framework allowing the integration of the following dimensions in micro-economic models of the energy transition: the explicit taking into account of adjustment costs, experience effects, existence of convexity in the investment costs associated with the development of a new technology.
Axis 2: Macro-economic and environmental assessment of the economic transition
The aim of this research axis is to improve the representation of the “growth engine” of macroeconomic models of energy transition.
Axis 3: Innovative financing
The closure between axes 1 and 2 will make it possible to deepen the question of the profitability of transition scenarios. This deepening naturally leads to the question of financing the energy transition, which will be addressed in two parts. In the first part, it will be a question of studying the feasibility of innovative modes of financing associated with the different modes of transitions, both at national and continental level (Europe) or worldwide (Green Fund, for example). The second part will be of a prudential and accounting nature, emerging from the following observation: the great difficulty in which the banking and insurance sectors find themselves to finance the long-term investments associated with the establishment of infrastructures necessary for the transition also comes from the prudential and accounting environment in which these sectors have developed for several years. It is then a question of studying the favorable reforms (Basel 3, Solvency 2, IFRS standards …) to the reorientation of available liquidity towards green financing.