Environmental Impact Bonds: a common framework and looking ahead

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dc.contributor.authorBrand, M. W.en
dc.contributor.authorQuesnel, K.en
dc.contributor.authorSaksa, P.en
dc.contributor.authorUlibarri, N.en
dc.contributor.authorBomblies, A.en
dc.contributor.authorMandle, L.en
dc.contributor.authorAllaire, M.en
dc.contributor.authorWing, O.en
dc.contributor.authorTobin-de la Puente, J.en
dc.contributor.authorParker, E. A.en
dc.contributor.authorNay, J.en
dc.contributor.authorSanders, Brett F.en
dc.contributor.authorRosowsky, D.en
dc.contributor.authorLee, J.en
dc.contributor.authorJohnson, K.en
dc.contributor.authorGudino-Elizondo, N.en
dc.contributor.authorAjami, N.en
dc.contributor.authorWobbrock, N.en
dc.contributor.authorAdriaens, P.en
dc.contributor.authorGrant, Stanley B.en
dc.contributor.authorWright, S.en
dc.contributor.authorGartner, T.en
dc.contributor.authorKnight, Z.en
dc.contributor.authorGibbons, J. P.en
dc.date.accessioned2022-02-19T16:40:23Zen
dc.date.available2022-02-19T16:40:23Zen
dc.date.issued2021-07-27en
dc.date.updated2022-02-19T16:40:12Zen
dc.description.abstractA frequent barrier to addressing some of our world’s most pressing environmental challenges is a lack of funding. Currently, environmental project funding largely comes from philanthropic and public sources, but this does not meet current needs. Increased coordination and collaboration between multiple levels and sectors of government, in addition to private sector funding, can help address the environmental funding challenge. New financial tools and strategies can enable this transition and facilitate uptake of innovative solutions. One such mechanism, the Environmental Impact Bond (EIB), is an emerging financial tool with the potential to transformthe environmental funding landscape. However, these financial instruments are not well understood or recognized beyond those actively involved in EIB projects or in the field of conservation finance. As EIBs gain momentum, there is a clear need for a common framework, including definitions and nomenclature, research needs, and outlook for the future. In this paper, we define EIB mechanics, elucidate the difference between EIBs and Green Bonds, and propose a common vocabulary for the field. Drawing on first-hand experience with the few EIBs which have been deployed, we review and assess lessons learned, trends, and paths for the future. Finally, we propose a set of future targets and discuss research goals for the field to unify around. Through this work, we identify a concrete set of research gaps and objectives, providing evidence for EIBs as one important tool in the environmental finance toolbox.en
dc.description.versionPublished versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1088/2634-4505/ac0b2cen
dc.identifier.issue2en
dc.identifier.orcidGrant, Stanley [0000-0001-6221-7211]en
dc.identifier.urihttp://hdl.handle.net/10919/108761en
dc.identifier.volume1en
dc.language.isoenen
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.titleEnvironmental Impact Bonds: a common framework and looking aheaden
dc.title.serialEnvironmental Research Infrastructure and Sustainabilityen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Engineeringen
pubs.organisational-group/Virginia Tech/Engineering/Civil & Environmental Engineeringen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Engineering/COE T&R Facultyen

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