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Introduction

In: Hardwiring Sustainability into Financial Mathematics

Author

Listed:
  • Armen V. Papazian

    (University of Cambridge)

Abstract

This chapter introduces the main theme of the book which makes the case for the necessity to hardwire sustainability into financial mathematics, specifically our equations of value and return, and discusses the implications of such a transformation for money mechanics. The growing momentum in sustainable finance, while encouraging, has not yet penetrated the analytical content of finance theory and our risk and time focused equations remain intact. Furthermore, the debate seems to consider the logic and principles of money creation as exogenous to the sustainability challenge and opportunity. The book identifies the need to rethink and revise our spaceless financial value framework and equations where space, as analytical dimension and our physical context, along with our responsibility for space impact, has been abstracted away. The space value of money principle and ensuing equations are proposed as a plausible avenue through which we can achieve the necessary transformations and secure the sustainability and future expansion of human productivity across time and space.

Suggested Citation

  • Armen V. Papazian, 2023. "Introduction," Springer Books, in: Hardwiring Sustainability into Financial Mathematics, chapter 0, pages 1-9, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-45689-3_1
    DOI: 10.1007/978-3-031-45689-3_1
    as

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    More about this item

    Keywords

    Sustainability; Financial Mathematics; Money; Value; Risk; Time; Space; Impact;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G00 - Financial Economics - - General - - - General
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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