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Greening of CapitalismHow Asia Is Driving the Next Great Transformation$
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John A. Mathews

Print publication date: 2014

Print ISBN-13: 9780804791502

Published to Stanford Scholarship Online: May 2015

DOI: 10.11126/stanford/9780804791502.001.0001

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From Generic to Eco-Finance

From Generic to Eco-Finance

(p.131) 6 From Generic to Eco-Finance
Greening of Capitalism

John A. Mathews

Stanford University Press

Chapter Six discusses the complementary changes in finance needed to drive through these changes in the energy and materials markets. Apart from the toxic effects of many financial derivatives, introduced without regulation and wreaking destruction, the banking and finance sector has also developed sophisticated instruments for creating credit and channeling finance to companies looking to invest in new processes. Green economy projects are looking increasingly attractive and are to be serviced by targeted finance (green banks, climate bonds). As they become adopted by institutional investors such as pension funds, these green credit instruments promise to aggregate projects and lower the cost of finance, thus making green economy projects even more attractive. Eco-finance will then emerge as the default option, offering a more stable as well as sustainable foundation for a green capitalism.

Keywords:   bond and equity markets, climate bonds, green bonds, green banks, eco-finance, Minskyan regulation

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