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
