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The Finance-Climate Nexus

In: Ecological Money and Finance

Author

Listed:
  • Laurence Scialom

    (Université Paris Nanterre)

Abstract

There is a vicious circle linking finance and climate. By providing cheap and plentiful financing, whose risks are poorly priced to companies involved in fossil fuels research, exploration and production, financial institutions are enabling and accelerating climate change. In turn, global warming is a major source of financial systemic risk. The failure of market mechanisms to respect the carbon budget, to assess climate-based financial risks, and to reallocate financial flows on a more sustainable greenhouse gas emission pathway call for strong public interventions and for a strong involvement of both central banks and regulators in the structural change of finance.

Suggested Citation

  • Laurence Scialom, 2023. "The Finance-Climate Nexus," Springer Books, in: Thomas Lagoarde-Segot (ed.), Ecological Money and Finance, chapter 0, pages 379-406, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-14232-1_12
    DOI: 10.1007/978-3-031-14232-1_12
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