Financial institutions in the face of the environmental emergency

Hugues Chenet
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Hugues Chenet: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique

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Abstract: Recently, financial institutions have become central in the discussions related to the environmental emergency, predominantly on climate change and progressively on biodiversity loss. But this rendezvous between the biophysical and financial worlds is not that intuitive. In this chapter, we will first propose a conceptual dual framework to define what are the overarching relationships between these two domains: finance and environment. Based on the notions of ‘impact' and ‘risk', this approach will help us to articulate the different approaches that currently co-exist at the interface between these two worlds, with sometimes opposite understandings, philosophies, and goals. Then, we will step back from the current stirring at the edge of these two domains, to unfold how finance, climate change and biodiversity became associated in the frame of what is now often called "sustainable finance".

Keywords: Biodiversity loss; Climate change; Double materiality; Financial risk; Sustainability (search for similar items in EconPapers)
Date: 2024-11-19
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Published in Catalina Spataru (éd.); Xiaojing Lv (éd.); Priscila Carvalho (éd.); Manta Devi Nowbuth (éd.); Nadia Ameli (éd.). The Elgar Companion to Energy and Sustainability, Edward Elgar Publishing, pp.320-339, 2024, Collection Geography, Planning and Tourism 2024, 978 1 03530 748 7. ⟨10.4337/9781035307494.00032⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05107562

DOI: 10.4337/9781035307494.00032

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