Template-type: ReDIF-Paper 1.0

Author-Name: Patrick Welch
Author-Workplace-Name: Lincoln Institute of Land Policy


Author-Name: Enrique Silva
Author-Workplace-Name: Lincoln Institute of Land Policy


Author-Name: Martim Smolka
Author-Workplace-Name: Lincoln Institute of Land Policy

Author-Name: Amy Cotter
Author-Workplace-Name: Lincoln Institute of Land Policy


Title: Local Solutions: Financing Climate Action through Land Value Capture

Abstract: The urgent need to address climate change has prompted subnational governments worldwide to explore innovative financing mechanisms to fund climate investments. This paper examines land value capture (LVC) as a potential source of financing for local climate action, reviewing instruments and implications associated with their implementation. It demonstrates how public climate interventions, including low-carbon transportation and green infrastructure, can positively impact land values and how subnational governments can recover those increments through LVC for additional public benefit. The paper examines common LVC instruments and their rationale, exploring how these mechanisms have been employed in different jurisdictions to fund climate mitigation and adaptation efforts. The paper underscores the potential of LVC as a viable financing mechanism for subnational climate action, offering insights into its practical implementation.

Length: 22 pages

Creation-Date: 2024-02

File-URL: https://icepp.gsu.edu/files/2024/02/paper2401.pdf
File-Format: application/pdf

Handle: RePEc:ays:ispwps:paper2401