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Finance and Sustainability : Synthesis Report of WP7

Clark, Eric LU ; Vercelli, Alessandro and Gouldson, Andrew (2016) In FESSUD Working Paper Series p.1-1
Abstract
This paper investigates the relationship between finance and environmental
sustainability. The first part summarises a few crucial methodological and foundational issues underlying meaning and implications of financialisation, sustainability and their mutual relation. The second part focuses on a particularly significant case study: the unsustainability of the existing energy system based on carbon fuels focusing on the urgency of a rapid transition to a low carbon economy. The third part explores which role financial instruments may play to facilitate the transition towards a low carbon economy. In particular, it investigates the implications for sustainability of the growing trade of energy derivatives. The forth part examines the... (More)
This paper investigates the relationship between finance and environmental
sustainability. The first part summarises a few crucial methodological and foundational issues underlying meaning and implications of financialisation, sustainability and their mutual relation. The second part focuses on a particularly significant case study: the unsustainability of the existing energy system based on carbon fuels focusing on the urgency of a rapid transition to a low carbon economy. The third part explores which role financial instruments may play to facilitate the transition towards a low carbon economy. In particular, it investigates the implications for sustainability of the growing trade of energy derivatives. The forth part examines the consequences of the disembedment of money from the socioecological flows of matter and energy. The fifth part investigates the relations between financialisation of built environments and urban sustainability. The final part of the paper draws the main policy implications from the preceding analysis in the light of the growing problems affecting environmental policy in a financialised economy. The main policy conclusion is that, notwithstanding the growing conflict between the ongoing process of
financialisation and sustainability, finance has to play a crucial role to implement a process of convergence towards a sustainable path of development. (Less)
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author
organization
publishing date
type
Working Paper
publication status
published
subject
keywords
financialisation, sustainability policies, green paradox, urban sustainability, financialisation of built environment, disembedment of money, energy derivatives, low carbon economy, sustainability
in
FESSUD Working Paper Series
issue
166
pages
58 pages
external identifiers
  • scopus:84971330268
ISSN
2052-8035
language
English
LU publication?
yes
id
aab2ac21-43fd-45b3-9848-0226160abbe9
date added to LUP
2017-06-08 20:47:06
date last changed
2017-11-14 09:53:39
@misc{aab2ac21-43fd-45b3-9848-0226160abbe9,
  abstract     = {This paper investigates the relationship between finance and environmental<br/>sustainability. The first part summarises a few crucial methodological and foundational issues underlying meaning and implications of financialisation, sustainability and their mutual relation. The second part focuses on a particularly significant case study: the unsustainability of the existing energy system based on carbon fuels focusing on the urgency of a rapid transition to a low carbon economy. The third part explores which role financial instruments may play to facilitate the transition towards a low carbon economy. In particular, it investigates the implications for sustainability of the growing trade of energy derivatives. The forth part examines the consequences of the disembedment of money from the socioecological flows of matter and energy. The fifth part investigates the relations between financialisation of built environments and urban sustainability. The final part of the paper draws the main policy implications from the preceding analysis in the light of the growing problems affecting environmental policy in a financialised economy. The main policy conclusion is that, notwithstanding the growing conflict between the ongoing process of<br/>financialisation and sustainability, finance has to play a crucial role to implement a process of convergence towards a sustainable path of development.},
  author       = {Clark, Eric and Vercelli, Alessandro  and Gouldson, Andrew},
  issn         = {2052-8035},
  keyword      = {financialisation,sustainability policies,green paradox,urban sustainability,financialisation of built environment,disembedment of money,energy derivatives,low carbon economy,sustainability},
  language     = {eng},
  month        = {08},
  note         = {Working Paper},
  number       = {166},
  pages        = {1--1},
  series       = {FESSUD Working Paper Series},
  title        = {Finance and Sustainability : Synthesis Report of WP7},
  year         = {2016},
}