This paper expands upon existing literature by proposing a wider definition of what constitutes green infrastructure. It then develops a holistic cost model by defining and quantifying the investment categories that should be considered part of green infrastructure. This paper achieves three main objectives. First, it advances the concept of green infrastructure as a critical tool for sustainable economic growth. Second, it develops a new cost model and attempts an initial quantification of the additional needs for green infrastructure. Finally, it outlines an agenda for further research required to provide more accurate estimates of such needs.

This paper is part of the working paper series “Infrastructure Finance in the Developing World” and is a joint research effort by GGGI and the G-24, exploring the challenges and opportunities for scaling up infrastructure finance in emerging markets and developing countries.