@article{Wolf2017a,
abstract = {In 2018, the Intergovernmental Panel on Climate Change (IPCC) will produce a special report on the impacts of average global warming of 1.5°C above pre-industrial levels and related global greenhouse gas (GHG) emission pathways. A strengthening of the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty set the context for this report. This paper differs from the classical perspective on climate policy, which focuses on the net costs of mitigation efforts for so- ciety. Instead, it proposes a win-win framing: The 1.5°C scenario should be seen as an opportunity for the world to achieve a Great Transition to green growth. Since the latter combines ecological, economic and social aspects of development it is closely linked to and shows synergies with the idea of sustainable development as described by the Sustainable Development Goals. With this article, the authors outline the investment needs of such a scenario and the mechanisms that can turn this challenge into a green growth opportunity, e.g. technical progress and a re-coordination of expectations. Furthermore, the article dis- cusses investment sources, proposing to spend 20{\%}, or more, of global GDP per year on the fundamentally needed energy and SDG transition. Since interest rates are low and invest- ment remains below pre-crisis levels, there is room for a substantial increase in investment for the Great Transition without necessarily crowding-out other types of investment.},
author = {Wolf, Sarah and Jaeger, Carlo and Mielke, Jahel and Sch{\"{u}}tze, Franziska and Rosen, Richard},
journal = {Working Paper GCF 2-20171},
keywords = {DOLFINS{\_}T2.2,DOLFINS{\_}WP2,DOLFINS{\_}working{\_}paper},
mendeley-tags = {DOLFINS{\_}T2.2,DOLFINS{\_}WP2,DOLFINS{\_}working{\_}paper},
title = {{Framing 1.5°C - Turning an investment challenge into a green growth opportunity}},
url = {http://globalclimateforum.org/wp-content/uploads/2018/02/GCF{\_}WorkingPaper2-20171.pdf},
volume = {2/2017},
year = {2017}
}

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This paper differs from the classical perspective on climate policy, which focuses on the net costs of mitigation efforts for so- ciety. Instead, it proposes a win-win framing: The 1.5°C scenario should be seen as an opportunity for the world to achieve a Great Transition to green growth. Since the latter combines ecological, economic and social aspects of development it is closely linked to and shows synergies with the idea of sustainable development as described by the Sustainable Development Goals. With this article, the authors outline the investment needs of such a scenario and the mechanisms that can turn this challenge into a green growth opportunity, e.g. technical progress and a re-coordination of expectations. Furthermore, the article dis- cusses investment sources, proposing to spend 20%, or more, of global GDP per year on the fundamentally needed energy and SDG transition. 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