Kooperativer Bibliotheksverbund

UID:

Umfang: 1 Online-Ressource(XVII, 281 p. 6 illus., 5 illus. in color.)

Ausgabe: 1st ed. 2023.

ISBN: 9783031305023

Serie: International Political Economy Series

Inhalt: Ch 1: Introduction -- Ch 2: What do we already know about green bonds? A literature review -- Ch 3: Towards new approaches of understanding the greening of capital markets -- Ch 4: The political economy of greening South Africa’s capital markets -- Ch 5: A stalling green bond take-off -- Ch 6: Emerging capital market responses to climate change. Lessons beyond South Africa -- Ch 7: Conclusion.

Inhalt: “This book is a must read to understand the pitfalls of relying solely on financial innovation to solve the climate crisis.” (Matthew Paterson, University of Manchester) “…an emphatic call for rethinking finance to advance a just energy transition” Mzukisi Qobo, Wits University) "A truly enlightening and empirically rich account of a green bond market that wasn't...." (Daniel Mertens, University Osnabrück) “…required reading for scholars of just transitions in the Global South.” (Daniela Gabor, UWE Bristol) Funding low-carbon transitions to address climate change is one of the major challenges of our time. Green bonds have emerged as a powerful tool to enlist institutional investors’ wealth for these transitions. But despite exponential growth in many parts of the world, the green bond market in South Africa has been stalling. This book grapples with this puzzle: It debunks some of the promises underpinning green bond markets globally and traces the manifold practices undergirding its promotion. It then identifies some barriers prohibiting the expansion of green bonds in emerging markets and zooms in on the depoliticizing tendencies a transition premised on financial innovation produces. In the last part, this work discloses the idiosyncratic political economic challenges of a fossil-based economy in transition and shines a light on the competing elements of a ‘green’ and a ‘just’ transition. In so doing, this book contributes important new qualitative insights into green bond markets-in-the-making and extends political economic scholarship on finance-led transition endeavors in emerging economies. Chapters 3 and 6 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com. Manuel Neumann is a Senior Policy Officer at the German Federal Ministry for Economic Cooperation and Development. He did his PhD at Kassel University and was a visiting scholar at Wits University in Johannesburg in 2018 and 2019. Beforehand, he worked in the development context in Geneva and Kathmandu and studied in London (M.Sc.), New Delhi, and Tübingen (B.Sc.). His research revolves around green financial innovation and the political economy of energy transitions in the global South.

Weitere Ausg.: ISBN 9783031305016

Weitere Ausg.: ISBN 9783031305030

Weitere Ausg.: ISBN 9783031305047

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 9783031305016

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 9783031305030

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 9783031305047

Sprache: Englisch

DOI: 10.1007/978-3-031-30502-3

URL: lizenzpflichtig

URL: Volltext  (URL des Erstveröffentlichers)

URL: Volltext  (URL des Erstveröffentlichers)

UID:

Umfang: 1 Online-Ressource (xvii, 281 Seiten) : , Diagramme.

ISBN: 978-3-031-30502-3

Serie: International political economy series

Originaltitel: Green bonds in South Africa the political economy of a stalling market

Anmerkung: Dissertation University of Kassel 2022

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 978-3-031-30501-6

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 978-3-031-30503-0

Weitere Ausg.: Erscheint auch als Druck-Ausgabe ISBN 978-3-031-30504-7

Sprache: Englisch

Schlagwort(e): Politische Ökonomie ; Anleihegeschäft ; Umweltschutz ; Rentabilität ; Hochschulschrift

DOI: 10.1007/978-3-031-30502-3

URL: Volltext  (URL des Erstveröffentlichers)

UID:

Umfang: xvii, 281 Seiten , Illustrationen , 21 cm

ISBN: 9783031305016

Serie: International political economy series

Anmerkung: Literaturangaben. - Index

Weitere Ausg.: 10.1007/978-3-031-30502-3

Weitere Ausg.: ISBN 9783031305023

Weitere Ausg.: Erscheint auch als Online-Ausgabe ISBN 9783031305023

Sprache: Englisch

Fachgebiete: Wirtschaftswissenschaften , Politologie

UID:

Umfang: 1 Online-Ressource (295 Seiten)

Ausgabe: 1st ed

ISBN: 9783031305023

Serie: International Political Economy Series

Anmerkung: Description based on publisher supplied metadata and other sources , Intro -- Acknowledgments -- About This Book -- Contents -- About the Author -- Abbreviations -- List of Figures -- 1 Green Bonds and the Long Way to Paris -- The Research Puzzle-South Africa's Green Bond Market -- References -- 2 What Do We Already Know About Green Bonds? A Literature Review -- The Marketeers -- The Reformists -- The Critics -- The Gaps in Green Bond Literature -- References -- 3 Towards New Approaches of Understanding the Greening of Capital Markets -- Discourse Analysis Intervening in International Political Economy -- Cultural Political Economies-Squaring the Debate -- Insights from Ferguson's Anti-Politics Machine -- The 'Financial Turn' in Transition Endeavors-Discussing Financialization -- Sorting Through the Varieties of Financialization -- The 'Wall Street Consensus' Meets Socio-Technical Understandings of Financialization -- Transition Studies-A Toolbox for Political and Socio-Technical Aspects of Transitions Endeavors -- The 'Just Transition' -- The Multi-Level Perspective (MLP) and Its Application on the Global Green Bond Market -- Further Research Questions -- References -- 4 The Political Economy of Greening South Africa's Capital Markets -- Early Extractivism and Lasting Path Dependence-The Emergence and Persistence of the Minerals-Energy Complex -- The Crisis of Governance Exemplified Along Mandela's Successors -- The Financial Sector Lessons from the Global Financial Crisis -- The Energy Sector-Incremental Reforms Amid Loadshedding -- Covid-19 Exacerbating Socio-Economic Challenges -- References -- 5 A Stalling Green Bond Take-Off -- The Purported Opportunities of Green Bonds Hardly Transpire in Emerging Markets -- The Climate Bonds Initiative and Its Crisis Interpretation -- The 'Other' Side of the Investment Gap -- From Opportunities to 'Bankability' as the Binding Constraint for Capital Markets , The Dearth of Bankable Projects in South Africa -- Public Sector Struggles Around Meeting Bankability Requirements -- Investor's Reluctance to Shoulder Construction Risks -- Patchy 'Greenium' for Issuers in Emerging Markets -- Zooming into Pricing Factors in South Africa's (Green) Bond Market -- The Story Matters-Whether in the Absence of Success Stories or Through Stories of Failure Elsewhere -- The Cape Town Bond-A Success Story -- The Threat of a Failed Story: Reception of Nigeria's First Sovereign Bond -- Green Bonds' Need for Simplicity Carries Trade-Offs -- The Lack of Actual Innovation -- The Questionable Resilience of Market Actors Amid Crises -- Technical Shortcomings -- The Lack of Sanctions in Case of a Green Default -- The Missing Impact from Green Bonds -- Green Bonds and Omnipresent Concerns Around Greenwashing -- South Africa's Taxonomy Risks Perception of Greenwashing in International Markets -- Contested Inroads in the Global Labeled Bond Market -- South Africa's Green Finance Taxonomy-A 'Living Document' for Transitioning Actors -- The Peculiarities of South Africa's Capital Markets Inhibit Green Bond Uptake -- A Mature Regional Market at the Soft Currency Frontier -- The Downsides of a Soft Currency Market-Demand Could Outstrip Funding Supply -- A Market with Few Tradeable Assets -- The Role of Reputation Within a Small and Risk-Averse Capital Market -- A Knowledge Gap Inhibits Green Bond Uptake -- The Prevailing Regulatory and Policy Vacuum -- The Regulatory Framework-Disclosure Trumps Prescribed Assets -- The Ambiguous Greening Drive of the Johannesburg Stock Exchange -- Asset Consultants as Hidden Gatekeeper of Greening Finance -- Supply-Side Regulation, Its Artificial Ceilings, and a Stuttering Rollout of Renewables -- The Renewable Energy Independent Power Procurement Program -- Actors That Could Drive Market Development , Other Crises Overshadow and Compete with Climate Policies -- Financial Sector Fear of a Populist Backlash -- A 'Natural' Transition with Self-Fulfilling Properties -- A Contested just Transition -- Green Bonds-A Political Economic Question Over Sharing of Benefits and Public Support -- The Depoliticizing Elements of South Africa's Green Bond Taxonomy -- The Right to Refinance-A Battle Between Market- and Bank-Based Lending -- References -- 6 The Limits of Green Finance in Fossil-Based Emerging Economies-Lessons Beyond South Africa -- Discussing the Results in Light of the Theoretical Framework -- Cultural Political Economy -- Financialization -- Transition Studies -- Insights on Green Bonds in South Africa and Beyond -- Beyond Green Bonds-Financial Tools to Address Climate Change? -- Concluding Remarks -- References -- Index

Weitere Ausg.: Erscheint auch als Druck-Ausgabe Neumann, Manuel The Political Economy of Green Bonds in Emerging Markets Cham : Palgrave Macmillan,c2023 ISBN 9783031305016

Sprache: Englisch