Designing a Sustainable Financial System: Development Goals and Socio-Ecological Responsibility

Description

This edited collection brings together leading theoretical and applied research with the intent to design a sustainable global financial future. The contributors argue that our world cannot move toward sustainability, address climate change, reverse environmental degradation, and improve human well-being without aligning the financial system with sustainable development goals like those outlined by the United Nations. Such a system would: a) be environmentally and socially responsible; b) align with planetary boundaries; c) manage natural resources sustainably; d) avoid doing more harm than good; and e) be resilient and adaptable to changing conditions. The overarching theme in this collection of chapters is a response to the worldwide, supranational sustainable finance discussions about how we can transition to a new socio-ecological system where finance, human well-being, and planetary health are recognized as being highly intertwined. Front Matter ....Pages i-xiv Introduction (Thomas Walker, Stéfanie D. Kibsey, Rohan Crichton)....Pages 1-13 Front Matter ....Pages 15-15 An Alternative Finance Approach for a More Sustainable Financial System (Rosella Carè, Annarita Trotta, Alessandro Rizzello)....Pages 17-63 Social and Environmental Responsibility in the Banking Industry: A Focus on Commercial Business (Beatriz Fernández-Olit, Marta de la Cuesta-González, Francisco Pablo Holgado)....Pages 65-88 Seeking Greener Pastures: Exploring the Impact for Investors of ESG Integration in the Infrastructure Asset Class (Roy R. Sengupta, Tessa Hebb, Hakan Mustafa)....Pages 89-113 Pricing Carbon: Integrating Promise, Practice and Lessons Learned from the Chicago Climate Exchange (Paula DiPerna)....Pages 115-148 Front Matter ....Pages 149-149 Designing Carbon-Neutral Investment Portfolios (Gianfranco Gianfrate)....Pages 151-171 Sustainability Stress Testing the Financial System: Challenges and Approaches (Dieter Gramlich)....Pages 173-197 Responsible Investment Requires a Proxy Voting System Responsive to Retail Investors (Ian Robertson)....Pages 199-238 The Creation of Social Impact Credits: Funding for Social Profit Organizations (Marcel C. Minutolo, Chloe Mills, John Stakeley, Kayla Marie Robertson)....Pages 239-262 Crowdfunding Sustainable Enterprises as a Form of Collective Action (Helen Toxopeus, Karen Maas)....Pages 263-287 Palm Oil: Mitigating Material Financial Risks via Sustainability (Gabriel Thoumi)....Pages 289-326 Front Matter ....Pages 327-327 Toward a Theory of Sustainable Finance (Joakim Sandberg)....Pages 329-346 Mobilizing Early-Stage Investments for an Innovation-Led Sustainability Transition (Friedemann Polzin, Mark Sanders, Ulrika Stavlöt)....Pages 347-381 Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System? (Olaf Weber)....Pages 383-404 Why Self-Commitment Is Not Enough: On a Regulated Minimum Standard for Ecologically and Socially Responsible Financial Products and Services (Andreas Oehler, Matthias Horn, Stefan Wendt)....Pages 405-421 Back Matter ....Pages 423-429