Environmental Sustainability and Finance

Authored by: Janelle Knox-Hayes , Jungwoo Chun , Priyanka deSouza

The Routledge Handbook of Financial Geography

Print publication date:  December  2020
Online publication date:  December  2020

Print ISBN: 9780815369738
eBook ISBN: 9781351119061
Adobe ISBN:

10.4324/9781351119061-35

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Abstract

This chapter speaks to the issue of environmental sustainability and finance, or sustainable development and value creation in economic, environmental, and social terms. Sustainable finance seeks to improve economic efficiency, prosperity, and economic competitiveness both today and in the long-term, while contributing to protecting and restoring ecological systems, and enhancing cultural diversity and social well-being. This chapter additionally situates sustainable finance as an issue of appropriate valuation and sustained use of resources across time. The nature of sustainable finance is examined through case studies of Louisiana and Norway. Finance is designed to extend the reach of resources, and to mobilize them across space and time to maximize their development potential. Critical to the issue of sustainability is the question of how and where value is generated in space and time. For resources economies, this is a question of finding ways to bring the scale and rate of socio-economic production into alignment with the scale and rate of natural systems of production. Critical to this process is an understanding of how economies generate value through socio-economic as well as socio-natural circuits of capital, as well as within circuits in time.

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