Capitalizing on Green Debt

Ferrando, Tomaso; Junqueira, Gabriela de Oliveira; Vecchione-Gonçalves, Marcela; Miola, Iagê Z.; Prol, Flávio Marques; Herrera, Héctor

doi:10.5195/jwsr.2021.1062

Cited by 8 publications

(5 citation statements)

References 18 publications

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“…Consequently, for a few years the Blue Bonds resulted in what political economists refer to as profit upon alienation rather than resulting in leverage for companies and productive expenditure for the state. As an example of the differentiated conditions of bond issuance in the world system (Ferrando et al, 2021), the paper contributes to thematic bond literature by showing how the state played a role as intermediary between financial and productive capital.…”

Section: Introductionmentioning

confidence: 99%

State capacity and the ‘value’ of sustainable finance: Understanding the state-mediated rent and value production through the Seychelles Blue Bonds

Christiansen

2023

Environ Plan A

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Financial capital is currently being heralded for its potential to provide social and environmental transformations. This paper provides an in-depth case study of the Seychelles Blue Bond, highlighting the state’s (fiscal and planning) capacities as central in mediating the future rents and value production when channelling thematic bond proceeds. Even as the Blue Bonds tapped into private capital markets and bond proceeds were intended to provide leverage for private businesses, this operation was contingent on complex economic and environmental planning by the state. Using literature on fictitious capital, rent and the role of the state in governing natural resources, this paper shows how the state needed to govern investment flows and its environmental conditions simultaneously in the case of the Seychelles Blue Bonds. By examining how the state tries to govern environments and finance in tandem, this paper contributes to geographical research on public fiscal policy, financialisation and environmental governance.

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Section: Introductionmentioning

confidence: 99%

State capacity and the ‘value’ of sustainable finance: Understanding the state-mediated rent and value production through the Seychelles Blue Bonds

Christiansen

2023

Environ Plan A

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“…This article also benefited from insights and debate at the 153. Ferrando et al (2021Ferrando et al ( , 2022.…”

Section: Acknowledgementsmentioning

confidence: 99%

The proliferation of municipal green bonds in Africa and Latin America: the need for a climate justice approach

Herrera

2024

Environment and Urbanization

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This paper utilizes a climate justice perspective to examine municipal green bonds (MGBs), a green-labelled debt instrument issued by subnational governmental entities, such as municipalities or cities, that determines financial, social and environmental redistributions in the context of climate change. This analysis focuses on the origins and financial construction of MGBs as the “descendant” of US municipal bonds and provides data on their recent diffusion in Africa and Latin America. It then draws connections with the lessons learned from critical analyses of US municipal bonds. The case study section explores one wastewater MGB of San Francisco (California) and creates material and theoretical connections with MGBs issued to finance water infrastructure in Mexico City (Mexico) and Cape Town (South Africa). The article concludes that the analysis and implementation of municipal green bonds needs a climate justice approach in order to recognize and address the production and reproduction of climate injustices.

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“…Scholars have studied the economic development of six Western Balkan countries and demonstrated that green bonds provide additional financing for the region's economic sustainability goals (Luksic et al, 2021) [25]. Ferrando et al (2021) [26], based on the case of Brazil, stated that green bonds can solidify the natural elements of the Global South and achieve sustainable development.…”

Section: Mechanisms Of Regional Differences In Green Financementioning

confidence: 99%

North–South Differences and Formation Mechanisms of Green Finance in Chinese Cities

Shang,

Wang,

Chen

et al. 2023

Sustainability

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This paper discusses the north–south difference in green finance in China and its internal mechanism. The entropy method is used to measure the green finance level in China from 2000 to 2022 through seven dimensions of green credit, green investment, green insurance, green support, green bonds, green funds, and green equity. The Dagum Gini coefficient and variance decomposition are used to reveal the differences and sources from the perspectives of north–south space and structure. The QAP method is utilized to explore formation mechanisms of differences. Research findings show that the overall level of green finance is not high, with the southern level higher than northern one. However, spatial differences in the green finance index have slightly narrowed, with regional differences being the major contributor to uneven distribution. Secondly, the difference in green funds is the main structural source of the difference in green finance, and the effect of the difference in green bonds and green funds on the difference in green finance increases from north to south, while the effect of the difference in green credit and green support decreases from north to south. This study will enrich the assessment indicator system, providing a reference for green finance differential situations and collaborative development strategies.

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Capitalizing on Green Debt

Cited by 8 publications

References 18 publications

State capacity and the ‘value’ of sustainable finance: Understanding the state-mediated rent and value production through the Seychelles Blue Bonds

State capacity and the ‘value’ of sustainable finance: Understanding the state-mediated rent and value production through the Seychelles Blue Bonds

The proliferation of municipal green bonds in Africa and Latin America: the need for a climate justice approach

North–South Differences and Formation Mechanisms of Green Finance in Chinese Cities

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