An Ecological Impact Fund
Keywords:access, diffusion, impact, incentives, innovation, emissions, monopolies, patents, South, justice
The Ecological Impact Fund (EIF) is a proposed new international financing facility that would enable originators of innovative green technologies to exchange some of their monopoly privileges in return for impact rewards.
The invited exchange would apply only in the lower-income countries: originators choosing to forgo their monopoly markups in this EIF Zone would receive annual premiums based on the emission reductions achieved with deployments of their “greenovation” in that EIF Zone.
The EIF’s main purpose is greatly to improve the diffusion of impactful green technologies in the Global South. It would do so first by inducing participating originators to waive licensing fees and monopoly markups, and second by giving these originators a financial interest in the wide and effective use of their participating innovations. In addition, the EIF would stimulate development of additional greenovations that – tailored to prevailing needs, cultures, circumstances, and preferences in the EIF Zone – would be especially impactful there. These two effects would produce a third: the EIF would help build capacities to develop, manufacture, distribute, install, operate, and maintain greenovations in the EIF Zone.
Received: 17 December 2022 | Revised: 10 January 2023 | Accepted: 10 January 2023
Conflicts of Interest
Thomas Pogge is an editorial board member for Green and Low-Carbon Economy, and was not involved in the editorial review or the decision to publish this article. The author declares that he has no conflicts of interest to this work.
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