A Classification of Different Approaches to Green Finance and Green Monetary Policy

Article Business, Finance

Central banking challenges posed by uncertain climate change and natural disasters

Lars Peter Hansen

Summary: Climate change poses a significant policy challenge for governments worldwide, and central banks should maintain their credibility by staying out of politics and avoiding exaggeration of our understanding of climate change.

JOURNAL OF MONETARY ECONOMICS (2022)

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Article Economics

Greening the international monetary system? Not without addressing the political ecology of global imbalances

Romain Svartzman et al.

Summary: Addressing ecological crises within the current International Monetary System (IMS) is difficult due to currency hierarchies and imbalances between core and peripheral countries. While proposals for reforming the IMS have been made, they often treat ecological issues separately. This paper argues that currency hierarchies are maintained through ecological hierarchies, as seen in the Chimerica relationship between the US and China. China's transition to a core country increases the likelihood of systemic ecological crises.

REVIEW OF INTERNATIONAL POLITICAL ECONOMY (2022)

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Book Review Development Studies

Trade and Development Report 2019. Financing a Global Green New Deal.

Keston K. Perry

DEVELOPMENT AND CHANGE (2021)

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Article Green & Sustainable Science & Technology

The transformation of provisioning systems from an integrated perspective of social metabolism and political economy: a conceptual framework

Anke Schaffartzik et al.

Summary: Provisioning systems are crucial to sustainability transformations, with energy, food, and mobility shaping resource use and emissions. The integration of socio-metabolic and political-economic dimensions is proposed to understand how provisioning systems work. Material stocks and political-economic actors form the core components of provisioning systems, with opportunities for intervention identified along different phases. The article emphasizes the importance of an integrated conceptualization for advancing understanding and envisioning more sustainable forms of provisioning.

SUSTAINABILITY SCIENCE (2021)

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Article Green & Sustainable Science & Technology

The Nature of Global Green Finance Standards-Evolution, Differences, and Three Models

Christoph Nedopil et al.

Summary: The study reveals that green finance standards evolve depending on economic governance types, environmental focus areas, and actors in government, intermediaries, and developing financial institutions. The research also confirms three models of green finance standards that have evolved: output-based, input-based, and process standards.

SUSTAINABILITY (2021)

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Article Green & Sustainable Science & Technology

The Foundational Economy as a Cornerstone for a Social-Ecological Transformation

Richard Baernthaler et al.

Summary: This paper synthesizes research on the foundational economy and its potential contribution to a social-ecological transformation, highlighting both the richness of concepts and policies it offers and its limitations in understanding the systematic non-sustainability of capitalism. By integrating feminist and ecological economics, the paper proposes a novel schema of economic zones to better conceptualize wellbeing within planetary boundaries and aims to empower new social and ecological struggles for improving living conditions and ultimately challenging capitalism.

SUSTAINABILITY (2021)

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Article Development Studies

A People's Green New Deal: Obstacles and Prospects

Max Ajl

Summary: The article examines the Green New Deal in the context of world-systemic shifts and Northern reactions, presenting three possible Eurocentric solutions to the climate crisis. It also elaborates on a potential People's Green New Deal focused on revolutionary transformation.

AGRARIAN SOUTH-JOURNAL OF POLITICAL ECONOMY (2021)

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Article Environmental Studies

Greening monetary policy

Dirk Schoenmaker

Summary: Interest in decarbonizing or greening monetary policy is growing, while central banks aim to maintain market neutrality. Market bias towards carbon-intensive companies poses challenges. However, a method to tilt the ECB's asset towards low-carbon assets has been developed, reducing carbon emissions without interfering with monetary policy transmission mechanisms.

CLIMATE POLICY (2021)

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Review Green & Sustainable Science & Technology