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Climate Finance and its Governance: Moving to a Low Carbon Economy through Socially Responsible Financing
Citation
Richardson, BJ, Climate Finance and its Governance: Moving to a Low Carbon Economy through Socially Responsible Financing, International and Comparative Law Quarterly, 58, (3) pp. 597-626. ISSN 0020-5893 (2009) [Refereed Article]
DOI: doi:10.1017/S0020589309001213
Abstract
'Climate finance' is becoming an important feature of the emerging legal and policy regimes to address global warming. However, the current approach largely confines the financial sector to a transactional agent to mobilise capital for clean energy and to broker emission allowance trading. The sector's potential to leverage more sweeping positive changes in the economy as sought historically through the movement for socially responsible investment (SRI) has been insufficiently acknowledged. Indirectly, by regulating greenhouse gases the legal system is helping to create a business case for investors to respond to climate change threats. However, the potential contribution of SRI to address climate change problems more comprehensively is presently limited owing to inadequate governance frameworks, as well the sector's increasing abandonment of its traditional ethical agenda.
Item Details
Item Type: | Refereed Article |
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Keywords: | Climate change, finance, financial markets, socially responsible investment. |
Research Division: | Law and Legal Studies |
Research Group: | Environmental and resources law |
Research Field: | Environmental law |
Objective Division: | Law, Politics and Community Services |
Objective Group: | Community services |
Objective Field: | Community services not elsewhere classified |
UTAS Author: | Richardson, BJ (Professor Benjamin Richardson) |
ID Code: | 91846 |
Year Published: | 2009 |
Web of Science® Times Cited: | 35 |
Deposited By: | Faculty of Law |
Deposited On: | 2014-05-30 |
Last Modified: | 2014-05-30 |
Downloads: | 0 |
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