Sustainability transition needs sustainable finance
Transition is a term used to describe conversion (evolution) from the existing model of economy and finance towards one based on increased social and environmental responsibility. The purpose of this study is to emphasise the role of sustainable finance in the sustainability transition process. The...
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| Format: | Article |
| Language: | English |
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Nicolaus Copernicus University in Toruń
2016-08-01
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| Series: | Copernican Journal of Finance & Accounting |
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| Online Access: | https://apcz.umk.pl/CJFA/article/view/10428 |
| _version_ | 1797721399432839168 |
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| author | Bożena Ryszawska |
| author_facet | Bożena Ryszawska |
| author_sort | Bożena Ryszawska |
| collection | DOAJ |
| description |
Transition is a term used to describe conversion (evolution) from the existing model of economy and finance towards one based on increased social and environmental responsibility. The purpose of this study is to emphasise the role of sustainable finance in the sustainability transition process. The main thesis can be expressed as follows: the role of finance is changing from the dominant view rooted in neoclassical economic theory (to maximize profits, and shareholder wealth) towards one supporting sustainable development, green economy, low carbon economy also adaptation and mitigation of climate change. The article uses the multilevel perspective created by F.W. Geels effective in the analysis of the sustainability transition. Results of analysis: There is evidence that the old regime of finance destabilizes. Finances are slowly responding to new demand in sustainable economy to align with it.
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| first_indexed | 2024-03-12T09:32:49Z |
| format | Article |
| id | doaj.art-19af9bae86fe4c839e90e5a1949d6452 |
| institution | Directory Open Access Journal |
| issn | 2300-1240 2300-3065 |
| language | English |
| last_indexed | 2024-03-12T09:32:49Z |
| publishDate | 2016-08-01 |
| publisher | Nicolaus Copernicus University in Toruń |
| record_format | Article |
| series | Copernican Journal of Finance & Accounting |
| spelling | doaj.art-19af9bae86fe4c839e90e5a1949d64522023-09-02T13:51:16ZengNicolaus Copernicus University in ToruńCopernican Journal of Finance & Accounting2300-12402300-30652016-08-0151Sustainability transition needs sustainable financeBożena Ryszawska0Wroclaw University of Economics Transition is a term used to describe conversion (evolution) from the existing model of economy and finance towards one based on increased social and environmental responsibility. The purpose of this study is to emphasise the role of sustainable finance in the sustainability transition process. The main thesis can be expressed as follows: the role of finance is changing from the dominant view rooted in neoclassical economic theory (to maximize profits, and shareholder wealth) towards one supporting sustainable development, green economy, low carbon economy also adaptation and mitigation of climate change. The article uses the multilevel perspective created by F.W. Geels effective in the analysis of the sustainability transition. Results of analysis: There is evidence that the old regime of finance destabilizes. Finances are slowly responding to new demand in sustainable economy to align with it. https://apcz.umk.pl/CJFA/article/view/10428sustainability transitionsustainable financeclimate financegreen finance |
| spellingShingle | Bożena Ryszawska Sustainability transition needs sustainable finance Copernican Journal of Finance & Accounting sustainability transition sustainable finance climate finance green finance |
| title | Sustainability transition needs sustainable finance |
| title_full | Sustainability transition needs sustainable finance |
| title_fullStr | Sustainability transition needs sustainable finance |
| title_full_unstemmed | Sustainability transition needs sustainable finance |
| title_short | Sustainability transition needs sustainable finance |
| title_sort | sustainability transition needs sustainable finance |
| topic | sustainability transition sustainable finance climate finance green finance |
| url | https://apcz.umk.pl/CJFA/article/view/10428 |
| work_keys_str_mv | AT bozenaryszawska sustainabilitytransitionneedssustainablefinance |