Hardback
Understanding Green Finance
A Critical Assessment and Alternative Perspectives
9781803927541 Edward Elgar Publishing
Exploring how green finance has become a key strategy for the financial industry in the wake of the 2007-08 financial crisis, this timely book critically assesses the current dominant forms of neoliberal green finance. Understanding Green Finance delivers a pioneering analysis of the topic, covering the essential tenets of green finance with an emphasis on critical approaches to mainstream views and presenting alternatives insights and perspectives.
More Information
Critical Acclaim
Contributors
Contents
More Information
Exploring how green finance has become a key strategy for the financial industry in the wake of the 2007-08 financial crisis, this timely book critically assesses the current dominant forms of neoliberal green finance. Understanding Green Finance delivers a pioneering analysis of the topic, covering the essential tenets of green finance with an emphasis on critical approaches to mainstream views and presenting alternatives insights and perspectives.
This prescient book first introduces the concept of, and current approaches to, green finance and green monetary policy, ultimately presenting a range of potential alternatives including both reformist and transformative-progressive approaches. Chapters explore how neoliberal green finance tends to deepen financialisation, and does not effectively address environmental problems, offering insights into reformist forms of green finance that insist that state regulation and public financing are crucial to tackling environmental problems.
A crucial contribution to the debate surrounding the financial industry’s role in addressing the environmental crisis, this book will be beneficial for academics and students with an interest in environmental, ecological and financial economics. The accessible writing style will also prove valuable for policy makers, civil society professionals and financial and sustainability experts.
This prescient book first introduces the concept of, and current approaches to, green finance and green monetary policy, ultimately presenting a range of potential alternatives including both reformist and transformative-progressive approaches. Chapters explore how neoliberal green finance tends to deepen financialisation, and does not effectively address environmental problems, offering insights into reformist forms of green finance that insist that state regulation and public financing are crucial to tackling environmental problems.
A crucial contribution to the debate surrounding the financial industry’s role in addressing the environmental crisis, this book will be beneficial for academics and students with an interest in environmental, ecological and financial economics. The accessible writing style will also prove valuable for policy makers, civil society professionals and financial and sustainability experts.
Critical Acclaim
‘If the world community does not green the global financial system we will experience catastrophic social and ecological tipping points. That said, green is in the eye of the beholder. This essential book gives a clear eyed view of how to think about green finance, what works, and how to move forward.’
– Kevin P. Gallagher, Boston University, US
‘This book provides essential reading on a key issue of our time: green finance and its ability to tackle climate change. By bringing together leading thinkers in the field, this book provides a much-needed critical analysis of green finance in a cogent, comprehensive, and coherent critical analysis.’
– Susanne Soederberg, Queen’s University, Canada
– Kevin P. Gallagher, Boston University, US
‘This book provides essential reading on a key issue of our time: green finance and its ability to tackle climate change. By bringing together leading thinkers in the field, this book provides a much-needed critical analysis of green finance in a cogent, comprehensive, and coherent critical analysis.’
– Susanne Soederberg, Queen’s University, Canada
Contributors
Contributors include: Maria Ahmed, Elena Almeida, Jeffrey Althouse, Patrick Bond, Simon Dikau, Ewa Dziwok, Ismail Ertürk, John Bellamy Foster, Katie Gallogly-Swan, Luiz Garcia, Asher Imam, Johannes Jäger, Max Knapp, Richard Kozul-Wright, Thomas Lagoarde-Segot, Julia Litofcenko, Silva Maringele, Hugh Miller, Christophe Revelli, Christoph Rogers, Lina Schmid, Elisabeth Springler, Leonardo E. Stanley, Andreas Streinzer, Romain Svartzman, Mario Taschwer, Christian Walter, Olaf Weber
Contents
Contents:
PART I INTRODUCTION AND THEORETICAL ASPECTS
1 A critical overview of green finance 2
Ewa Dziwok and Johannes Jäger
2 The defence of nature: resisting the financialisaton of the earth 18
John Bellamy Foster
3 Money and a green economy: financialised solutions to
the environmental problems 33
Ismail Ertürk
4 Limitations of conventional private green finance industry
and strategies 46
Christophe Revelli and Christian Walter
5 Ecological money and finance: insight from
post-Keynesian economics 58
Thomas Lagoarde-Segot
PART II CURRENT APPROACHES TO GREEN
FINANCE AND GREEN MONETARY POLICY
6 Current policy initiatives on green finance in the EU: the
green taxonomy in the global context 73
Max Knapp, Julia Litofcenko, Silva Maringele, Christoph
Rogers, Andreas Streinzer, Lina Schmid and Mario Taschwer
7 Challenges of green finance in Latin America 88
Leonardo E. Stanley
8 Green central banking policy between risk-based and
reformist objectives 102
Elena Almeida, Simon Dikau and Hugh Miller
9 Multilateral development banks, corporations and banks:
public and private actors between brown and green strategies 119
Olaf Weber and Asher Imam
10 A neoliberal agenda: decentralized financial innovation to
enhance sustainable finance 135
Elisabeth Springler
PART III CRITICAL AND ALTERNATIVE
PERSPECTIVES ON THE FUTURE OF GREEN FINANCE
11 Finance, the green transition and climate justice in the
Global South 148
Luiz Garcia
12 Financing a just transition to a carbon-free world:
a developmental perspective 160
Richard Kozul-Wright, Katie Gallogly-Swan and Maria Ahmed
13 Prospects and roadblocks to a “sustainable” international
monetary and financial system 183
Jeffrey Althouse and Romain Svartzman
14 Climate-financing carrots and sticks in South Africa:
profound flaws in “Just Energy Transition Partnership“
and “Carbon Border Adjustment Mechanism” pilot projects 200
Patrick Bond
15 Neoliberal, reformist and transformative-progressive
green finance and possible futures 215
Ewa Dziwok and Johannes Jäger
Index
PART I INTRODUCTION AND THEORETICAL ASPECTS
1 A critical overview of green finance 2
Ewa Dziwok and Johannes Jäger
2 The defence of nature: resisting the financialisaton of the earth 18
John Bellamy Foster
3 Money and a green economy: financialised solutions to
the environmental problems 33
Ismail Ertürk
4 Limitations of conventional private green finance industry
and strategies 46
Christophe Revelli and Christian Walter
5 Ecological money and finance: insight from
post-Keynesian economics 58
Thomas Lagoarde-Segot
PART II CURRENT APPROACHES TO GREEN
FINANCE AND GREEN MONETARY POLICY
6 Current policy initiatives on green finance in the EU: the
green taxonomy in the global context 73
Max Knapp, Julia Litofcenko, Silva Maringele, Christoph
Rogers, Andreas Streinzer, Lina Schmid and Mario Taschwer
7 Challenges of green finance in Latin America 88
Leonardo E. Stanley
8 Green central banking policy between risk-based and
reformist objectives 102
Elena Almeida, Simon Dikau and Hugh Miller
9 Multilateral development banks, corporations and banks:
public and private actors between brown and green strategies 119
Olaf Weber and Asher Imam
10 A neoliberal agenda: decentralized financial innovation to
enhance sustainable finance 135
Elisabeth Springler
PART III CRITICAL AND ALTERNATIVE
PERSPECTIVES ON THE FUTURE OF GREEN FINANCE
11 Finance, the green transition and climate justice in the
Global South 148
Luiz Garcia
12 Financing a just transition to a carbon-free world:
a developmental perspective 160
Richard Kozul-Wright, Katie Gallogly-Swan and Maria Ahmed
13 Prospects and roadblocks to a “sustainable” international
monetary and financial system 183
Jeffrey Althouse and Romain Svartzman
14 Climate-financing carrots and sticks in South Africa:
profound flaws in “Just Energy Transition Partnership“
and “Carbon Border Adjustment Mechanism” pilot projects 200
Patrick Bond
15 Neoliberal, reformist and transformative-progressive
green finance and possible futures 215
Ewa Dziwok and Johannes Jäger
Index
