Green finance is heralded in theory and practice as the new panacea – the ideal way to support the green transition of businesses into more sustainable, environmentally responsible forms, by means of incentivized financial investments. This handbook brings together a variety of expert scholars with industry specialists to offer the most authoritative overview of green finance to date, presenting the current situation in the field. It focuses on green finance in a comprehensive way, discussing its characteristics, underlying principles, and mechanisms.
The book carefully illuminates the issues surrounding green finance and delineates its boundaries, mapping out and displaying the disparate voices, traditions, and professional communities engaged in green and sustainable finance activities. Specifically, it examines the "environmental" in the environmental, social, and governance (ESG) measurements, while also discussing the interplay between each measurement. It develops a range of analytic approaches to the subject, both appreciative and critical, and synthesizes new theoretical constructs that make better sense of hybrid financial relationships. Furthermore, the handbook illustrates existing best practices and theories, and critically examines the gaps to derive the necessary future research questions. It highlights the essential issues and debates and provides a robust research agenda. As such, it helps to create an effective market for the various green financing instruments through clarification and standardization.
This handbook will be the standard reference work for a broad audience, encompassing scholars, researchers, and students but also interested professionals, regulators, and policymakers wishing to orient themselves in a rapidly developing and increasingly topical field.
Author(s): Othmar M. Lehner; Theresia Harrer; Hanna Silvola; Olaf Weber
Series: Routledge International Handbooks
Edition: 1
Publisher: Routledge
Year: 2024
Language: English
Pages: xxxvi; 578
City: New York
Tags: Investments—Environmental aspects; Business enterprises—Environmental aspects; Sustainable development—Planning; Social responsibility of business; Economics Finance and Accounting; Finance; Business & Industry; Environment and Sustainability; Global Development; Economics, Finance, Business & Industry; Business, Management and Marketing; Corporate Social Responsibility & Business Ethics; Corporate Social Responsibility; Sustainable Development
Cover
Endorsement Page
Half Title
Title Page
Copyright Page
Contents
List of Figures
List of Tables
List of Contributors
Foreword
Acknowledgements
Glossary
Introduction: Setting the Scene for Green Finance
Part 1 Green Finance Market and Regulatory Environments
Chapter 1 Sustainable Finance Ecosystem: A Case Study from Aotearoa New Zealand
Chapter 2 Accounting for a Green Economy: Sustainable Finance and the Harmonisation of Sustainability Reporting
Chapter 3 Double Materiality: Why Does It Matter for Sustainability Reporting?
Chapter 4 Climate Scenario Analysis for Central Banks
Chapter 5 Public Financial Institutions and Climate Change
Chapter 6 Internal Carbon Pricing in Research and Practice
Part 2 Green Finance Instruments and Their Effects
Chapter 7 Corporate Environmental Impact: Measurement, Data, and Information
Chapter 8 Corporate Carbon Management Systems and Carbon Opportunity: An International Study
Chapter 9 Beyond Monetary Gain: Motivational Correlates of Sustainable Finance
Chapter 10 The Influence of Firms’ ESG Initiatives on Firm Value: An Analysis of Select European Firms
Chapter 11 The Yields of Green Bank Bonds: Are Banks Perceived as Trustworthy in the Green Financial Markets?
Part 3 Sector- and Country-Specific Aspects
Chapter 12 The Quest for Global Green Finance Participation: Developing Countries and Barriers to Full Participation
Chapter 13 Accounting as a Mediating Practice between Values and Contexts: A Research Agenda on Impact Investment
Chapter 14 When do Bank Loans Become Green?
Chapter 15 Public Policy and Green Finance in China
Chapter 16 Green Finance in China: System, Practice, and International Role
Chapter 17 Finance without Unified Measurement Framework: Rise of Collective Norm Entrepreneurs in Impact Finance in Japan
Chapter 18 Green Finance Strategies in Africa: A Focus on Capital Market-Based Impact Investments in Small and Medium-Sized Enterprises in Ghana
Chapter 19 The United Nations’ Principles for Responsible Banking, CSR, and Corporate Governance in the Banking Industry
Part 4 Critical Perspectives
Chapter 20 Measuring Biodiversity: Mission Impossible?
Chapter 21 Can Nuclear Attract Green Finance?
Chapter 22 Green, Greener, Not Green Enough?: Institutional Forces Driving the European Green Bond Market
Chapter 23 The Hidden Costs of Impact Measurement
Part 5 Building Theory on Green Finance
Chapter 24 Sustainability Reporting of State-Owned Enterprises: Current Practices and Implications of the CSR Directive
Chapter 25 Assessing the Current State of Research on Climate and Environment-Related Financial Risks: What Are We Missing? A Review and Research Agenda
Chapter 26 A Systematic Literature Review on Financial Stock Performance of Sustainable Investments: Bridging the Gap between Empirical Evidence and Recent Theoretical Models
Chapter 27 Arguing for Urban Climate Change Adaptation Finance – A Bibliometric Study: An Interdisciplinary Systematic Longitudinal Literature Review and Bibliometric Analysis of Urban Adaptation Financing, a Global North Perspective 2010–2021
Chapter 28 Green Bonds as a Tool of Green Financing
Chapter 29 Building Normativity in Sustainability Reporting: From National to European Union-Level Regulations
Chapter 30 Air Pollution and Investors’ Behavior: A Review of Recent Literature
Index
