Sustainable Finance: Political Challenges of Development and Implementation of Framework Conditions

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Standard

Sustainable Finance: Political Challenges of Development and Implementation of Framework Conditions. / Kemfert, Claudia; Schmalz, Sophie.
in: Green Finance, Jahrgang 1, Nr. 3, 01.01.2019, S. 237-248.

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Harvard

APA

Vancouver

Bibtex

@article{7ee37664e3334e34bab462aabb69d505,
title = "Sustainable Finance: Political Challenges of Development and Implementation of Framework Conditions",
abstract = "According to the 2015 Paris Agreement, a long-term goal is the commitment to “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” Reconciling climate change objectives and financial flows is an enormous challenge in the 21st century. States in general and Germany in particular have various instruments at their disposal to initiate appropriate measures. On the one hand, the state can exert direct influence by orienting its own activities towards sustainability, for example by meeting sustainability standards for investments and participations by public institutions and by anchoring divestment strategies in law. On the other hand, the development of suitable framework conditions is a requirement for encouraging private financial market players towards sustainability.A key requirement for the development of sustainable financial system is a uniform taxonomy of sustainability. Standards and labels for identifying business activities can then be implemented. The development of political framework conditions is currently facing far-reaching challenges at European and national level: There is a risk that current approaches will only be applied to a limited extent. Sustainable investments currently account for approximately 3% of the total market (2017).This article aims to focus on the extent to which policy frameworks currently being developed at national and European level can contribute to the development of sustainable finance. In addition to the challenges of implementing and developing new policy approaches, the limits of existing instruments will be identified. Beyond the indirect influence of the state, investment strategies and criteria of public institutions and procurement are analysed, which represent a direct influence of the state for the development of a sustainable financial sector. A case study on the Divestment Strategies is used for this purpose.",
keywords = "Economics, sustainable finance, ESG, divestment, procuvement, european union",
author = "Claudia Kemfert and Sophie Schmalz",
year = "2019",
month = jan,
day = "1",
doi = "10.3934/GF.2019.3.237",
language = "English",
volume = "1",
pages = "237--248",
journal = "Green Finance",
issn = "2643-1092",
publisher = "American Institute of Mathematical Sciences - AIMS Press",
number = "3",

}

RIS

TY - JOUR

T1 - Sustainable Finance

T2 - Political Challenges of Development and Implementation of Framework Conditions

AU - Kemfert, Claudia

AU - Schmalz, Sophie

PY - 2019/1/1

Y1 - 2019/1/1

N2 - According to the 2015 Paris Agreement, a long-term goal is the commitment to “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” Reconciling climate change objectives and financial flows is an enormous challenge in the 21st century. States in general and Germany in particular have various instruments at their disposal to initiate appropriate measures. On the one hand, the state can exert direct influence by orienting its own activities towards sustainability, for example by meeting sustainability standards for investments and participations by public institutions and by anchoring divestment strategies in law. On the other hand, the development of suitable framework conditions is a requirement for encouraging private financial market players towards sustainability.A key requirement for the development of sustainable financial system is a uniform taxonomy of sustainability. Standards and labels for identifying business activities can then be implemented. The development of political framework conditions is currently facing far-reaching challenges at European and national level: There is a risk that current approaches will only be applied to a limited extent. Sustainable investments currently account for approximately 3% of the total market (2017).This article aims to focus on the extent to which policy frameworks currently being developed at national and European level can contribute to the development of sustainable finance. In addition to the challenges of implementing and developing new policy approaches, the limits of existing instruments will be identified. Beyond the indirect influence of the state, investment strategies and criteria of public institutions and procurement are analysed, which represent a direct influence of the state for the development of a sustainable financial sector. A case study on the Divestment Strategies is used for this purpose.

AB - According to the 2015 Paris Agreement, a long-term goal is the commitment to “making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” Reconciling climate change objectives and financial flows is an enormous challenge in the 21st century. States in general and Germany in particular have various instruments at their disposal to initiate appropriate measures. On the one hand, the state can exert direct influence by orienting its own activities towards sustainability, for example by meeting sustainability standards for investments and participations by public institutions and by anchoring divestment strategies in law. On the other hand, the development of suitable framework conditions is a requirement for encouraging private financial market players towards sustainability.A key requirement for the development of sustainable financial system is a uniform taxonomy of sustainability. Standards and labels for identifying business activities can then be implemented. The development of political framework conditions is currently facing far-reaching challenges at European and national level: There is a risk that current approaches will only be applied to a limited extent. Sustainable investments currently account for approximately 3% of the total market (2017).This article aims to focus on the extent to which policy frameworks currently being developed at national and European level can contribute to the development of sustainable finance. In addition to the challenges of implementing and developing new policy approaches, the limits of existing instruments will be identified. Beyond the indirect influence of the state, investment strategies and criteria of public institutions and procurement are analysed, which represent a direct influence of the state for the development of a sustainable financial sector. A case study on the Divestment Strategies is used for this purpose.

KW - Economics

KW - sustainable finance

KW - ESG

KW - divestment

KW - procuvement

KW - european union

UR - https://www.mendeley.com/catalogue/35e043f6-58b7-3c44-9d42-0b74ca2427b0/

U2 - 10.3934/GF.2019.3.237

DO - 10.3934/GF.2019.3.237

M3 - Journal articles

VL - 1

SP - 237

EP - 248

JO - Green Finance

JF - Green Finance

SN - 2643-1092

IS - 3

ER -

Links

DOI

Zuletzt angesehen

Publikationen

  1. Gesetz über Unterlassungsklagen bei Verbraucherrechts- und anderen Verstößen (UKlaG)
  2. Über literarische Figuren und Medienfiguren
  3. Naturräumliche Gliederung der lauenburgischen Libellenfauna (Schleswig-Holstein)
  4. Unmenge als Kategorie singulärer Erfahrung
  5. "Von seiner Jugend erlöst" - Heinrich Manns Romanerstling 'In einer Familie' (1894)
  6. Geschwisterlichkeit. Von ästhetischen Gegenentwürfen zur Brüderlichkeit und unmöglichen Gemeinschaften.
  7. Ökologie
  8. Video-Bewerbung als Instrument der Personalauswahl und des Personalmarketing bei Gruner + Jahr: Ein Erfahrungsbericht
  9. Rechtsformen und Finanzierung freier Träger der Sozialarbeit
  10. Verwaltungsökonomie - Betriebswirtschaftliche Kostenrechnung in der öffentlichen Verwaltung
  11. “A Living Memorial for the Edelweißpiraten”
  12. § 66 Islamische Republik Pakistan
  13. "Prozeßschutz" als Konzept einer naturschutzgerechten Waldwirtschaft und seine Bedeutung für die ökologische Wertigkeit von Wirtschaftswäldern
  14. Ökonomische Risiken durch Klimawandel
  15. 'Realistische' Pädagogischen Anthropologie und 'relativistische' Historisch-pädagogischen Anthropologie
  16. Robbanásveszélyes terek ellenörzése infravörös optikával
  17. Exports and success in German manufacturing
  18. You'll better stay at home?- Studies on the Recreational Effects of Holidays and Holiday Tourism
  19. Sprünge durch den Spiegel, blaue Füchse und vernebelte Menschen. Realitätsentgrenzende Phantastik in den Romanen von Annika Scheffel
  20. Lehrerbildung am Übergang ins 21. Jahrhundert
  21. Was will die Frau? Empowerment in der Bildungs- und Gruppenarbeit mit Frauenhausbewohnerinnen
  22. Von Feedbackverdrossenheit, metalingusitischer Kommunikation und veränderter Lehrerrolle - Erste Forschungsergebnisse zum Einsatz der Lernsoftware English Coach 2000 im Unterricht der Klasse 7
  23. Klimafolgen „Vor Ort“ und Anpassungsoptionen im Kontext schulischer Bildung
  24. Seine Gefühle handhaben lernen
  25. Grundsätzliches zu weltanschaulichen Voraussetzungen naturwissenschaftlicher Welterkenntnis
  26. Seyla Benhabib: Die Rechte der Anderen. Ausländer, Migranten, Bürger. Suhrkamp Verlag Frankfurt am Main 2008, 226 S.
  27. Mädchen, Jungen und ihre Medienkompetenzen, aktuelle Diskurse und Praxisbeispiele für den (Deutsch-)Unterricht, Petra Josting; Heidrun Hoppe (Hrsg.) : Jugend - Werte - Medien, der Diskurs, in Zusammenarbeit mit Stiftung Ravensburger Verlag. Hrsg. von Gudrun Marci-Boehncke und Matthias Rath
  28. Dür, Andreas/Mateo, Gemma (2016): Insiders versus Outsiders. Interest Group Politics in Multilevel Europe. Oxford, New York: Oxford University Press.
  29. Innovatives Lernen zwischen betrieblichen Anforderungen und nachhaltigen Herausforderungen
  30. Strategien und Grundformen der Kinder- und Jugenbeteiligung II
  31. Komparatistik
  32. Zu Risiken und Nebenwirkungen lesen Sie … Negative Effekte von Coaching
  33. Blick über den Zaun: Leseförderung in Europa. Ergebnisse und Einsichten aus dem EU-Projekt ADORE
  34. Schattenwirtschaft und Arbeitsplatzschaffung
  35. Mutagene Effekte und biologische Abbaubarkeit von flüssigen Reaktionsrückständen aus Analysatoren der in-vitro Diagnostik klinisch chemischer Routinelaboratorien
  36. Überzeugendes Sprechhandeln in der Therapie
  37. Sind Kinder- und Jugendpsychiater, die keine Medikamente verordnen, die besseren Menschen?
  38. Politische Ethik im Anschluss an Hannah Arendt
  39. Manuelle und maschinelle Instrumentenaufbereitung - ein ökologischer und ökonomischer Vergleich