IDEAS home Printed from https://ideas.repec.org/p/aue/wpaper/2112.html
   My bibliography  Save this paper

Hedging Planetary Risks: 'From Weapons of Mass Destruction to Tools of Massive Social and Ecological Innovation'

Author

Listed:
  • Stefan Brunnhuber
  • Mariana Bozesan
  • Jeffrey Golden
  • Garry Jacobs
  • Phoebe Koundouri

Abstract

Cost analyses and risk assessments in the Anthropocene era need to differ from those of the past. Future developments now are determined byopportunity costs and planetary risks. We provide a first comprehensive systematization that can serve as a template for blended finance and blendedsecuritization in order to finance our global commons. We show that financing our future requires multiple new financial engineering techniques thatbuild upon the experiences of the private sector, but need to be adapted to meet the criteria of force majeure and planetary risks.

Suggested Citation

  • Stefan Brunnhuber & Mariana Bozesan & Jeffrey Golden & Garry Jacobs & Phoebe Koundouri, 2021. "Hedging Planetary Risks: 'From Weapons of Mass Destruction to Tools of Massive Social and Ecological Innovation'," DEOS Working Papers 2112, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:2112
    as

    Download full text from publisher

    File URL: http://wpa.deos.aueb.gr/docs/Hedging-Planetary-Risks.pdf
    File Function: First version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Chenet, Hugues & Ryan-Collins, Josh & van Lerven, Frank, 2021. "Finance, climate-change and radical uncertainty: Towards a precautionary approach to financial policy," Ecological Economics, Elsevier, vol. 183(C).
    2. Stefan Brunnhuber, 2021. "Financing Our Future," Springer Books, Springer, number 978-3-030-64826-8, April.
    3. L. Randall Wray, 2024. "Modern Money Theory," Springer Books, Springer, edition 3, number 978-3-031-47884-0, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Steven Rosefielde, 2020. "Stakeholder Capitalism: Progressive Dream or Nightmare?," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 3, pages 14-23, Editura Lumen.
    2. Yasuhito Tanaka, 2021. "A Mathematical Model of MMT (Modern Monetary Theory) with Profit Return," Business and Economic Research, Macrothink Institute, vol. 11(4), pages 39-55, December.
    3. Thomas Palley, 2018. "Government Spending and the Income-Expenditure Model: The Multiplier, Spending Composition, and Job Guarantee Programs," FMM Working Paper 30-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. Josh Ryan-Collins, 2015. "Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935-75," Economics Working Paper Archive wp_848, Levy Economics Institute.
    5. Kujtim Avdiu & Stephan Unger, 2022. "Predicting Inflation—A Holistic Approach," JRFM, MDPI, vol. 15(4), pages 1-14, March.
    6. Mercy Berman DeMenno, 2023. "Environmental sustainability and financial stability: can macroprudential stress testing measure and mitigate climate-related systemic financial risk?," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(4), pages 445-473, December.
    7. Brett Fiebiger & Scott Fullwiler & Stephanie Kelton & L. Randall Wray, 2012. "Modern Monetary Theory: A Debate," Working Papers wp279, Political Economy Research Institute, University of Massachusetts at Amherst.
    8. Wan, Lihong & Zhang, Panpan & Lin, Qi, 2023. "The loss of political connections and corporate financialization," Finance Research Letters, Elsevier, vol. 57(C).
    9. Yasuhito Tanaka, 2021. "An Elementary Mathematical Model for MMT (Modern Monetary Theory)," Research in Applied Economics, Macrothink Institute, vol. 13(3), pages 1-20, September.
    10. Jörg Bibow, 2013. "Lost at Sea: The Euro Needs a Euro Treasury," IMK Studies 35-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    11. Dafermos, Yannis & Nikolaidi, Maria, 2022. "Assessing climate policies: an ecological stock–flow consistent perspective," Greenwich Papers in Political Economy 38039, University of Greenwich, Greenwich Political Economy Research Centre.
    12. Jorg Bibow, 2015. "The Euro's Savior? Assessing the ECB's Crisis Management Performance and Potential for Crisis Resolution," Economics Working Paper Archive wp_845, Levy Economics Institute.
    13. Thomas Lagoarde-Segot, 2020. "Financing the Sustainable Development Goals," Sustainability, MDPI, vol. 12(7), pages 1-22, April.
    14. Ryan Gunderson, 2019. "Work time reduction and economic democracy as climate change mitigation strategies: or why the climate needs a renewed labor movement," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 9(1), pages 35-44, March.
    15. Donato Masciandaro & Riccardo Russo, 2022. "Central Banks and Climate Policy: Unpleasant Trade–Offs? A Principal–Agent Approach," BAFFI CAREFIN Working Papers 22181, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    16. Phil Armstrong, 2020. "Can Heterodox Economics Make a Difference?," Books, Edward Elgar Publishing, number 19964.
    17. Liu, Zhonglu & He, Shuguang & Men, Wenjiao & Sun, Haibo, 2024. "Impact of climate risk on financial stability: Cross-country evidence," International Review of Financial Analysis, Elsevier, vol. 92(C).
    18. Tanweer Akram & Syed Al-Helal Uddin, 2021. "An empirical analysis of long-term Brazilian interest rates," PLOS ONE, Public Library of Science, vol. 16(9), pages 1-20, September.
    19. Aleksandra Badora & Krzysztof Kud & Marian Woźniak, 2021. "Nuclear Energy Perception and Ecological Attitudes," Energies, MDPI, vol. 14(14), pages 1-18, July.
    20. Yeva Nersisyan & L. Randall Wray, 2021. "Can we afford the Green New Deal?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 44(1), pages 68-88, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aue:wpaper:2112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ekaterini Glynou (email available below). General contact details of provider: https://edirc.repec.org/data/diauegr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.