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Performativity in the Green Economy: how far does climate finance create a fictive economy?

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  • Sarah Bracking

Abstract

This paper asks how far performativity in the Green Economy generates material or virtual assets. It examines the relationship between assets and their financial derivatives, asking how far the value of ‘carbon’ or ‘green’ can be directly attributed to its social and narrative construction. The paper draws on two case studies – one of the Clean Development Mechanism (CDM) in South Africa, the other of the global private green bonds market – to show that both public and private climate finance can generate virtual economic activity co-produced by processes of social valuation and accumulation proper. How reliant is the Green Economy on actual economic activity?

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  • Sarah Bracking, 2015. "Performativity in the Green Economy: how far does climate finance create a fictive economy?," Third World Quarterly, Taylor & Francis Journals, vol. 36(12), pages 2337-2357, December.
    • Handle: RePEc:taf:ctwqxx:v:36:y:2015:i:12:p:2337-2357
    DOI: 10.1080/01436597.2015.1086263
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    Cited by:

    1. Ngan, Sue Lin & How, Bing Shen & Teng, Sin Yong & Promentilla, Michael Angelo B. & Yatim, Puan & Er, Ah Choy & Lam, Hon Loong, 2019. "Prioritization of sustainability indicators for promoting the circular economy: The case of developing countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 111(C), pages 314-331.
    2. Adeniyi P Asiyanbi, 2018. "Financialisation in the green economy: Material connections, markets-in-the-making and Foucauldian organising actions," Environment and Planning A, , vol. 50(3), pages 531-548, May.
    3. Phemelo Tamasiga & Malesela Molala & Malebogo Bakwena & Hugue Nkoutchou & Helen Onyeaka, 2023. "Is Africa Left behind in the Global Climate Finance Architecture: Redefining Climate Vulnerability and Revamping the Climate Finance Landscape—A Comprehensive Review," Sustainability, MDPI, vol. 15(17), pages 1-26, August.
    4. Aneil Tripathy & David Wood & Elizabeth Ferry, 2024. "Mrs. Columbo's antipolitics machine: Quantitative data in responsible finance," Economic Anthropology, Wiley Blackwell, vol. 11(1), pages 87-99, January.
    5. Khatri, Dil B. & Marquardt, Kristina & Pain, Adam & Ojha, Hemant, 2018. "Shifting regimes of management and uses of forests: What might REDD+ implementation mean for community forestry? Evidence from Nepal," Forest Policy and Economics, Elsevier, vol. 92(C), pages 1-10.
    6. Wang, Wanqi & Qu, Zhaoguang, 2024. "Sustainable finance for promoting prosperity and recovery: The impact of mobilizing capital to expand natural resource efficiency," Resources Policy, Elsevier, vol. 91(C).
    7. Bhatnagar, S. & Sharma, D., 2022. "Evolution of green finance and its enablers: A bibliometric analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).
    8. Brett Christophers & Patrick Bigger & Leigh Johnson, 2020. "Stretching scales? Risk and sociality in climate finance," Environment and Planning A, , vol. 52(1), pages 88-110, February.
    9. Sharma, Gagan Deep & Shahbaz, Muhammad & Singh, Sanjeet & Chopra, Ritika & Cifuentes-Faura, Javier, 2023. "Investigating the nexus between green economy, sustainability, bitcoin and oil prices: Contextual evidence from the United States," Resources Policy, Elsevier, vol. 80(C).
    10. Perkins, Richard, 2021. "Governing for growth: standards, emergent markets and the lenient zone of qualification for green bonds," LSE Research Online Documents on Economics 107483, London School of Economics and Political Science, LSE Library.
    11. Cristina Drumea & Bogdan Băcanu & Carmen Elena Anton & Adriana Veronica Litra & Steliana Busuioceanu & Alexandra Doroș, 2020. "Gender Parity within the Gender—Sustainability Paradigm: A Case Study on Management Structures of the Romanian Academia," Sustainability, MDPI, vol. 12(3), pages 1-36, January.
    12. Anders Hansson & Simon Haikola & Mathias Fridahl & Pius Yanda & Edmund Mabhuye & Noah Pauline, 2021. "Biochar as multi-purpose sustainable technology: experiences from projects in Tanzania," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(4), pages 5182-5214, April.
    13. Hanna Hilbrandt & Monika Grubbauer, 2020. "Standards and SSOs in the contested widening and deepening of financial markets: The arrival of Green Municipal Bonds in Mexico City," Environment and Planning A, , vol. 52(7), pages 1415-1433, October.
    14. Hilbrich, Sören, 2021. "What is social finance? Definitions by market participants, the EU taxonomy for sustainable activities, and implications for development policy," IDOS Discussion Papers 29/2021, German Institute of Development and Sustainability (IDOS).
    15. Felicia HM Liu & Karen PY Lai, 2021. "Ecologies of green finance: Green sukuk and development of green Islamic finance in Malaysia," Environment and Planning A, , vol. 53(8), pages 1896-1914, November.
    16. Carè, R. & Weber, O., 2023. "How much finance is in climate finance? A bibliometric review, critiques, and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).
    17. Ömer Faruk Gülteki̇n & Betül Erenoğlu, 2018. "A Research On Polıcıes For Green Economy In Developed And Developing Countries Within The Scope Of Sustaınable Development," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 6(1), June.
    18. Monk, Alexander & Perkins, Richard, 2020. "What explains the emergence and diffusion of green bonds?," Energy Policy, Elsevier, vol. 145(C).

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