Document Type
Article
Publication Date
2009
Source Publication
International and Comparative Law Quarterly. Volume 58, Issue 3 (2009), p. 597-626.
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.
Repository Citation
Richardson, Benjamin J. "Climate Finance and Its Governance: Moving to a Low Carbon Economy through Socially Responsible Financing?" International and Comparative Law Quarterly 58.3 (2009): 597-626.
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.