An important dimension of international and national climate governance is the financial sector. Climate finance refers to the role of financial institutions in addressing climate change, such as through investment transactions, identifying financial risks and supporting clean and green energy developments. Global financial markets have become a significant driver of environmental pressure, but also potentially a means of leveraging positive change. The latter role is expressed through the growing movement for socially responsible investing (sri). This article examines how the financial industry affects action on climate change, the role of the sri movement in improving environmental behaviour, and the place of state-based regulation in creating a more conducive “marketscapeˮ for climate finance.
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See generally R. Glen Hubbard, Money, the Financial System and the Economy (Boston: Addison-Wesley, 1994); P. Rose and M. Marquis, Money and Capital Markets (New York: McGraw-Hill/Irwin, 1994).
B.J. Richardson, Environmental Regulation through Financial Organisations (The Hague: Kluwer, 2002).
R. Shiller, Irrational Exuberance (Princeton: Princeton University Press, 2000).
J. Brill and A. Reder, Investing from the Heart (New York: Crown Publishers, 1992).
B.J. Richardson, Fiduciary Law and Responsible Investing: In Nature’s Trust (London: Routledge, 2013).
I. Cherneva (ed.), The Business Case for Sustainable Finance (London: Routledge, 2012).
A. Michaelowa, Carbon Markets or Climate Finance? (New York: Routledge, 2012); R. B. Stewart, B. Kingsbury and B. Rudyk (eds.), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press, 2009); A. Calvello (ed.), Environmental Alpha: Institutional Investors and Climate Change (New York: John Wiley and Sons, 2009).
Mercer, Climate Change Scenarios: Implications for Strategic Asset Management (Toronto: Mercer, 2011).
J. Solomon, Pension Fund Trustees and Climate Change (London: Association of Certified Chartered Accountants, 2009), 21–3.
K. Miles, ‘Targeting Financiers: Can Voluntary Codes of Conduct for the Investment and Financing Sectors Achieve Environmental and Sustainability Objectives?’ Critical Issues in Environmental Taxation, volume 5, edited by K. Deketelaere, et. al. (Oxford University Press, 2008), 94 at 948.
K.-H. Ladeur, ‘Coping with Uncertainty: Ecological Risks and the Proceduralization of Environmental Law’, in Environmental Law and Ecological Responsibility : The Concept and Practice of Ecological Self-Organization, edited by G. Teubner, L. Farmer and D. Murphy (New York: John Wiley and Sons, 1994), 299 at 322–23.
Climate Group, Climate Principles: Progress Review (London: Climate Group, 2011).
See S. Labatt and R. White, Carbon Finance: The Financial Implications of Climate Change (New York: John Wiley and Sons, 2007); B.J. Richardson, ‘Climate Finance and its Governance: Moving to a Low Carbon Economy through Socially Responsible Financing?’, 58(3) International and Comparative Law Quarterly 597 (2009).
M. Sagoff, The Economy of the Earth (New York: Cambridge University Press, 1990).
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An important dimension of international and national climate governance is the financial sector. Climate finance refers to the role of financial institutions in addressing climate change, such as through investment transactions, identifying financial risks and supporting clean and green energy developments. Global financial markets have become a significant driver of environmental pressure, but also potentially a means of leveraging positive change. The latter role is expressed through the growing movement for socially responsible investing (sri). This article examines how the financial industry affects action on climate change, the role of the sri movement in improving environmental behaviour, and the place of state-based regulation in creating a more conducive “marketscapeˮ for climate finance.
All Time | Past 365 days | Past 30 Days | |
---|---|---|---|
Abstract Views | 948 | 249 | 5 |
Full Text Views | 263 | 13 | 0 |
PDF Views & Downloads | 143 | 20 | 0 |