This commentary explores the potential consequence of latent racial formation in emergent climate finance data projects and draws from ethnographic research on climate finance governance conducted in Fiji. Climate finance data projects emerging in the Pacific aim to ease the flow of finance from the Global North to the South. These emergent data projects, such as renewable energy resource availability and investment mapping, are imbedded in the climate finance organizations that fund, (...) develop, and use them. Thus, the commentary explores climate finance organizations through the lens of Ray’s theory of racial organizations, highlighting the ways in which important climate-related resources are mediated through racial and colonial schemas. The racial mediation of two key resources are spotlighted in this discussion: the finance itself and knowledge. Given that the Pacific region is at the coalface of climate change’s existential effects, the just allocation of resources is imperative. In interrogating the ways in which emergent data projects may deny these resources based on hidden racial schemas, the paper cautions against new and old forms of colonization that may be mobilized through even well-meaning techno-benevolent fixes. (shrink)

Critique surrounding climate finance is mounting against a backdrop of an escalating ecological crisis manifesting unequally across the globe. This paper uses learnings from racial capitalism to unpack the modalities of climate finance, using the Pacific region as an illustrative case. It argues that racial capitalism is enacted through modalities of climate finance, in part, by the erection of walls. One type of wall enacted by climate finance is epistemic: its definitions place (...) it as the inherent object of Northern interventions. Moreover, financial walls are maintained through debt in climate finance, creating borders of deprivation through ongoing practices of indebting already burdened regions. The paper also highlights the way borders can manifest through regulation, in particular, through climate funds delineating arduous benchmarks of already burdened states. These walls contribute to the racialized process of creating ‘sacrifice zones’: places that have borne the cost of benefits accrued elsewhere, left without in a state of depletion. The paper explores the material futures that are being enacted by these modalities of climate finance through the case of climate migration. Yet these dystopian futures must not be taken for granted, rather, the walls which separate climate affected communities from hopeful futures must be dismantled. (shrink)

Addressing the productivity challenge of climate technology (ClimTECH) firms and avoiding the “green trap” is crucial for decoupling economic growth from carbon emissions and achieving sustainable development. This study uses the establishment of green finance reform and innovation pilot zones as a quasi-natural experiment and employs a difference-in-differences model to explore the impact of green finance policies on the total factor productivity (TFP) of ClimTECH firms and its spillover effects. The results show that (1) Green finance (...) policies significantly increase TFP, especially in state-owned firms, firms that actively disclose environmental information, firms led by long-tenure CEOs, and those in regions with strong intellectual property protection. (2) The channel analysis shows that green finance policies enhance firms' TFP by easing financing constraints, encouraging green technology improvements, and improving capital allocation efficiency. (3) The spillover effect analysis shows that the TFP increase driven by green finance policies not only enhances firm value but also stimulates local green innovation and reduces regional carbon emissions. This research offers theoretical insights and policy implications for strengthening green finance frameworks and enhancing the environmental responsibility of ClimTECH firms. (shrink)

The urgent need to address climate change poses a range of complex moral and practical concerns, not least because rising to the challenge will require cooperation among countries that differ greatly in their wealth, the extent of their contributions to the problem, and their vulnerability to environmental and economic shocks. This thesis by publication in the field of climate ethics aims to characterise a range of national responsibilities associated with acting on climate change (Part I), and to (...) identify proposals for fulfilling those responsibilities through fair and feasible institutional arrangements (Part II). I aim not only to address substantive gaps in scholarly understanding of those responsibilities, but also to strengthen the ability of climate ethics to engage meaningfully with climate policy. Chapter 2 addresses the question of whether wealthy countries owe a “climate debt” to poor countries. It finds that even if climate debt (suitably interpreted) may provide a coherent and morally plausible concept, its political value as a discursive frame that can provide a basis for cooperation is limited. Chapter 3 investigates the role that equity may play in negotiations on a long-term climate change agreement. It argues that developed and developing countries may reach a “principled bargain” if both converge on a way of differentiating their responsibilities that places less emphasis on a rigid dichotomy between the two groups and more emphasis on objective criteria relating to their contribution to the problem and capacity to address it. Chapter 4 explores a question largely overlooked in climate ethics, namely whether wealthy countries owe compensation to those who are adversely affected by the climate policies which they enact. I find that enacting countries have responsibilities to compensate both domestic and foreign citizens who would suffer disproportionate losses from the effects of policies. Chapter 5 assesses whether wealthy countries may legitimately adopt unilateral (or “fragmented”) rather than multilaterally coordinated approaches to raising climate finance for developing countries. It finds that coordinated target-setting, effort sharing and oversight arrangements are essential, but that a mix of unilateral and coordinated approaches to raising funds will be necessary for securing legitimacy. In Chapter 6, through addressing the broader question of what should count as official aid, I consider whether wealthy countries may draw on aid budgets to support developing countries’ efforts to address climate change. I find that the current definition of official aid should be retained but supplemented by specified exclusions from eligibility in order to preserve the aid regime’s integrity. Nevertheless, some climate finance may justifiably be counted as aid provided that concerns relating to the diversion of aid funding are addressed. In addressing these research questions, the thesis seeks not only to make original theoretical contributions to climate ethics but also to strengthen broader scholarly understanding of the ways in which ethics and international public policy may inform one another, particularly by highlighting the role of framing considerations (Chapter 2), feasibility considerations (Chapter 3), and the ways in which principles of fairness and legitimacy map onto institutional functions (Chapters 4, 5 and 6). (shrink)

Although the international community repetitively pledged considerable amounts of adaptation finance to the global South, only little has been provided so far. Different instruments have been proposed to generate more funding and this paper aims at identifying those that are most suitable to raise adaptation finance in a just way. The instrument assessment is based on the following main criteria: fairness, effectiveness and feasibility. The criteria are applied to four instruments: contributions from domestic budgets, international carbon taxes collected (...) at the national level, border tax adjustments as well as selling emissions allowances in domestic trading schemes. Domestic emission trading schemes and border tax adjustments achieve the best-or rather, the least bad-results. Two further findings are that instruments are unable make agents pay for past excessive emissions and that all instruments generate rather small amounts of funding. As a consequence of the latter, adaptation finance will continue to be highly insufficient in all likelihood. (shrink)

Universal Basic Income (UBI) can serve as a beneficial public policy to reduce poverty and inequality, yet a great challenge is how to fund it. This article offers a roadmap for fully funding UBI in a manner that: eliminates poverty; bolsters the middle-class; eliminates the stigma and government bureaucracy of social welfare programs; reduces ever-expanding inequality; initiates a path to meeting climate change goals; reduces speculation; and increases fairness and opportunity in the tax code. As stand-alone policies, these revenue (...) proposals are valuable correctives in their own right. If the entire package of UBI and funding sources were in effect, society (and American capitalism) would be on a more stable, equitable, and environmentally sustainable footing. (shrink)

An investigation of public support for coastal adaptation options and public finance options in Florida evaluated stakeholder judgments and how they changed through a participatory engagement process. The study found that public finance mechanisms that imposed fiscal burdens on those who directly benefit from hazard reduction were rated as more acceptable than others. Significantly, visualisations and data on local economic damage and return on investment of potential adaptation options further increased acceptability ratings. The question of whether a development (...) fee for adaptation or any other public purpose supported by private funds is a legal issue that depends on a test called the rational nexus. One concern of this article is to explore options for such fees to cover adaptation to climate change. This raises issues about the potential conflict with the community-wide and intergenerational nature of long-term adaptation. We also explore the relevance of environmental attitudes using the ‘new environmental paradigm’ (NEP) scale and political party affiliation. Results have implications for infrastructure improvements that require public approval for financing. (shrink)

This Chapter studies legislative initiatives around sustainable finance deriving from the Action Plan: Financing Sustainable Growth (also called ‘Sustainable Finance Action Plan’, ‘Action Plan’ henceforth), published by the European Commission (‘Commission’) in 2018 (Communication 2018/97). I evaluate various instruments proposed in the Action Plan, using a reflexive law approach coupled with insights from business ethics and epistemology (De Bruin, 2013, 2015). I point to the challenges such an approach encounters, and offer suggestions how to address them. Reflexive law (...) approaches to legislation (Farber 1994, Hess 1999, Orts 1994, Farmer & Teubner 1994) acknowledge the limits of law as an instrument to realize social or political goals, and stress the need to encourage self-reflection and transparency among stakeholders through procedural rather than ‘command-and-control’ legislation. Typical reflexive law instruments involve disclosure, reporting, and labelling. Examining the Action Plan, I show that the main legislative instruments it puts forward are reflexive. I use empirical and theoretical work that challenges the effectiveness of some of these instruments. Drawing on recent work from behavioural economics I suggest that these problems may be overcome once we integrate more fully in reflexive law what it means for people ‘reflectively’ to recruit evidence and gather knowledge, and once we appreciate the value knowledge has over and above mere belief. My argument here is not so much to the effect that more interventionist regulatory tools are needed (they are dearly needed, but that is not the point here). Rather I argue that once a regulator opts for a reflexive law approach, a richer notion of information should be deployed. I call this ‘epistemic’ instead of ‘reflexive’ law. The Chapter gives some background information about the Action Plan, introduces the core ideas of reflexive law, shows how the Action Plan is reflexive law par excellence, considers the challenges, and offers a few modest suggestions. (shrink)

Public or stakeholder participation in environmental governance has been strongly advocated within the United Nations (UN) since the early 1990s. A relatively new mechanism for global climate finance that emphasises stakeholder engagement is the Green Climate Fund (GCF), a UN strategy for channelling funds from the Global North to the Global South. Drawing on previous critical approaches to multi-stakeholder involvement in global governance, this article explores stakeholder involvement within the GCF. The study combines ideas from institutional logics (...) and resource dependency to provide a better understanding of how stakeholder arrangements are shaped in climate organisations. Results show that the GCF stakeholder arrangement favours private sector stakeholders – stakeholders that take a technical and apolitical approach to climate finance – and disfavours smaller, less resourceful stakeholders as well as those who perform a politicised watchdog function. (shrink)

Green New Deal policies are proposed to tackle the climate emergency. These policies focus on driving climate innovation through unprecedented financial policy levers. However, while the macro-level financing dynamics are clear, the influence of niche level dynamics of sustainable innovation financing remain unexplored within these policy settings. Through the context of the European Green Deal and a focus on the agri-tech start-up sector in the Netherlands, we identify factors likely to reduce the efficacy of these policies from an (...) innovation management perspective—such as project matching issues, socio-ethical factors or the characteristics of agri-food climate innovations. We go on to conceptualise that these challenges represent a range of asymmetries—from classic information asymmetries to less common value and objective asymmetries—between climate innovators and private investors and financers. Many remedies for asymmetries involve costs, likely to further inhibit the efficacy of the European Green Deal and similar policies. A partnering approach is proposed, where the non-financial resources of incumbent actors are harnessed and leveraged to enhance climate innovation performance. (shrink)

The paper offers a normative analysis of the new Loss & Damage Fund supporting vulnerable countries grappling with climate change-related harms. This fund is primarily financed by affluent nations, often identified as historical polluters. However, the perspective of relational egalitarianism highlights persistent structural injustices in the background of the fund. Addressing them necessitates conceptualizing the fund not merely as an act of cooperative solidarity but as compensation for the consequences of historical and ongoing structural injustices. Properly conceived, the fund (...) manages adverse climate effects and simultaneously tackles their underlying root causes, including the unjust distribution of advantages and power. (shrink)

The paper discusses Baatz’s work (2018) published in a recent issue of this journal. It first considers the proposed framework of justice within which to evaluate instruments for adaptation finance; it then develops the framework’s criteria of fairness and feasibility further; finally, it proposes an option for increasing the capacity of Baatz’s framework to ensure that instruments for adaptation finance operate in a just way.

> Wealthy nations must step up support for Africa and vulnerable countries in addressing past, present and future impacts of climate change The 2022 report of the Intergovernmental Panel on Climate Change paints a dark picture of the future of life on earth, characterised by ecosystem collapse, species extinction and climate hazards such as heatwaves and floods.1 These are all linked to physical and mental health problems, with direct and indirect consequences of increased morbidity and mortality. To (...) avoid these catastrophic health effects across all regions of the globe, there is broad agreement—as 231 health journals argued together in 2021—that the rise in global temperature must be limited to <1.5°C compared with pre-industrial levels. While the Paris Agreement of 2015 outlines a global action framework that incorporates providing climate finance to low-income and middle-income countries, this support has yet to materialise.2 COP27 is the fifth Conference of the Parties (COP) to be organised in Africa since its inception in 1995. Ahead of this meeting, we—as health journal editors from across the continent—call for urgent action to ensure it is the COP that finally delivers climate justice for Africa and vulnerable countries. This is essential for the health of those countries, and for the health of the whole world. The climate crisis has had an impact on the environmental and social determinants of health across Africa, leading to devastating health effects.3 Impacts on health can result directly from environmental shocks and indirectly through socially mediated effects.4 Climate change-related risks in Africa include flooding, drought, heatwaves, reduced food production and reduced labour productivity.5 Droughts in sub-Saharan Africa …. (shrink)

ABSTRACTThis paper puts forward a normative framework to differentiate between the climate-related responsibilities of different countries in the aftermath of the Paris Agreement. It offers reasons for applying the chief moral principles of ‘historical responsibility’ and ‘capacity’ to climate finance instead of climate change mitigation targets. This will provide a normative basis to realize the goal of climate change mitigation while allowing for developing and newly industrialized countries to develop economically and offer an account of (...) the distributive principles that can regulate climate finance. This is a real-world interpretation of the 1992 UNFCCC principle of ‘common but differentiated responsibilities’ that takes into account the progress accomplished at the COP21 in Paris and offers a solution to the still unsolved problem of differentiated responsibilities. This paper offers an application of this proposal to the Green Climate Fund. (shrink)

Climate change's impact on investor behavior is a scantly investigated area in finance. This paper examines the performance of socially responsible exchange trade funds (ETFs) concerning conventional ETFs, in response to climate change events. We proxy climate change signals with a list of natural disaster events that NASA scientists relate to climate change. We contribute to existing literature, by using a very extensive information set of ETF strategies, not influenced by rating agencies' subjective evaluation policies, (...) and covering almost 90% of the universe of worldwide sustainability thematic-oriented ETFs. This sample allows us to identify the socially responsible investment behavior in response to unpredictable climate change shocks. Our identification strategy accounts for endogeneity concerns and relies on two-stage least square (2SLS) approach finding that responsible investors react to climate change events by purchasing socially responsible investments. The relationship between climate change signals and return of investment in themes linked to the development of sustainability is positive. Interestingly enough, the sign of this relationship is different, when we disentangle the empirical results according to the asset type, confirming that investors shift their investments from equity funds to bond funds when market sentiment worsens. Our results indicate that policymakers should increase the support of firms adopting environmentally conscious business practices, while managers should boost a sustainable business strategy. (shrink)

This chapter explores the ethical dimensions of diplomatic efforts to form a global agreement on climate change. It offers a brief historical background on the core multilateral climate negotiation body, the United Nations Framework Convention on Climate Change, and highlights some contentious moral elements of these negotiations. In particular, it explores the complex ways in which the principle of “common but differentiated responsibilities” has driven debates on how burdens for mitigation, adaptation, and finance should be distributed (...) between developed and developing countries. It then considers the transformation in these climate negotiations since 2009, including the move toward a bottom-up architecture as part from the Copenhagen Accord to the Paris Agreement. Finally, it assesses the current state of climate diplomacy in relation to broader diplomatic priorities, arguing that climate diplomacy must be elevated alongside other top-tier foreign policy issues today in order to eventually achieve some level of climate stability. (shrink)

In this article I hold that utilitarians are wrong to want to disaggregate climate- induced harm, whether in terms of chaotic or linear causality. This is not because individual emissions do not count, in probabilistic terms, for risk projections of overall climate dam- age, rather because individual emissions only contribute to increasing atmospheric CO2 concentration if the anthropogenic flow of CO2 exceeds the amount of CO2 that can be naturally taken up by the biosphere, over a given time (...) segment. I therefore maintain that individual climate duties consist of reforming the social and technological structures that make each individual emission part of a collective phenomenon, global warming, which leads to an enormous global disutility, climate change. In the final part of the article, I ar- gue that utilitarian ethics would have much more to say if, instead of focusing on the dis- aggregation of climate-induced harm, it addressed the key issues of the energy transition, i.e. carbon pricing, research and development in green technologies and climate finance. (shrink)

The paper examines connections between ontology and finance. The ontological debates concerning the role of finance are examined between two opposing schools of thought that can be labelled, very broadly, ‘instrumentalist’ and ‘realist’. These two schools of thought have had momentous repercussions in understanding what is a good society. Each school defines Nature in particular ways which can be explored using ontology and philosophical insight. Our theoretical investigation aims to accommodate Nature in community financial deliberations. A positive role (...) for government is advocated to finance environmental infrastructure initiatives. For example, precautionary strategies to address climate change must be funded. New roles for finance and government are proposed to align human relationships with Nature. Environmental precautionary principles must be developed in conjunction with finance theory to maintain decent standards of living for all. Reliance on impersonal market forces will not be enough to save the planet given the power of some over the many in the neoliberal arena. (shrink)

The subject of this paper is distributive justice in relation to financing greenhouse gas abatement. After separating the various questions of distributive justice in climate change and isolating the financing issue ; the paper explores whether any effective moral norms resolving this question already exist. It is argued that such norms still have to be constructed. As a basis for the further discussion; a criterion for moral duties is proposed; progressive norm welfarism; which takes up the constructivist idea. Ethical (...) ; intuitive; moral and political considerations finally converge into a proposal for ‘no harm to developing countries’. (shrink)

The current study has mapped the impact of changes in different climatic parameters on the productivity of major crops cultivated in India like cereal, pulses, and oilseed crops. The vulnerability of crops to different climatic conditions like exposure, sensitivity, and adaptive indicators along with its different components and agribusiness has been studied. The study uses data collected over the past six decades from 1960 to 2020. Analytical tools such as the Tobit regression model and Principal Component Analysis were used for (...) the investigation which has shown that among climatic parameters, an increase in temperature along with huge variations in rainfall and consistent increase in CO2 emissions have had a negative impact by reducing crop productivity, particularly cereals and oilseed. Among various factors, adaptive factors such as cropping intensity, agricultural machinery, and livestock density in combination with sensitivity factors such as average operational land holding size and productivity of cereals, and exposure indicators like Kharif temperature, heavy rainfall, and rate of change in maximum and minimum Rabi temperature have contributed significantly in increasing crop vulnerability. The agribusiness model needs to be more inclusive. It should pay attention to small and remote farmers, and provide them with inclusive finance that can facilitate the adoption of climate-smart financial innovations, serve the underserved segments, and help them reach the target of a sustainable and inclusive agribusiness model. Though the social, technological, and economic initiatives can enhance the adaptive capacity of farmers, political measures still have a major role to play in providing a healthy climate for agriculture in India through tailored adaptive approaches like the adoption of craft climate adaptation program, dilating the irrigation coverage and location-centric management options. Hence, multidisciplinary and holistic approaches are worth emphasizing for evaluating the future impacts of change in climate on Indian agriculture. (shrink)

This primarily diagnostic paper offers, from the perspective of relational egalitarianism, a normative analysis of three major injustices in the context of adaptation finance. Adaptation finance includes payments provided by the affluent countries of the Global North to low-income countries in the Global South, countries particularly exposed to the harms of climate change. Relational egalitarianism is the normative view that interactions between people and between institutions have to respect the equal moral status of every human being. The (...) first injustice, from this perspective, consists in the sheer fact that adaptation measures are required at all to deflect harm from people who did not significantly contribute to the causes of climate change. The second injustice consists in the persisting, even increasing adaptation finance gap, as countries of the Global North do neither provide adequate financial means to reduce climate risks, nor even fulfil their commitments to adaptation finance pledged in the Copenhagen Accord in 2009. The third injustice emerges from current procedures to determine criteria for distributing scarce financial resources that consolidate structural injustice. The paper concludes by providing the contours of a practical response to these injustices that respects the demands of relational egalitarianism. (shrink)

There is a continuous increase in the number of humanitarian crises around the world. The number of armed conflicts and attacks on civilians is increasing at an alarming rate. Natural disasters compounded by climate change and population growth are also occurring more frequently and with increasing intensity. Given that over 60 million people have been forcibly displaced worldwide, prolonged forced displacement has become the biggest humanitarian, development, political and economic challenge. The needs are increasingly outweighing resources, and humanitarian aid (...) and civil protection are becoming increasingly complex. Funds for humanitarian aid come from the budgets of individual countries. In situations of severe crisis, other state authorities may also decide to grant humanitarian aid from the funds at their disposal. In addition, there are many options for providing humanitarian aid. The purpose of the article is to present methods as crowdfunding for financing humanitarian crises that do not belong to state funds. Most often they come from community collections or projects where more people are involved. It must be admitted, however, that this assistance still seems disproportionately small in relation to the needs. (shrink)

In the Cancun Adaptation Framework, the parties to the United Framework Convention on Climate Change agreed “that adaptation is a challenge faced by all Parties, and that enhanced action and international cooperation is urgently required to enable and support the implementation of adaptation actions aimed at reducing vulnerability and building resilience in developing country Parties […].” Furthermore, the conference of the parties requests the developed countries to provide developing countries with additional finance, technology, and capacity-building. This paper argues (...) that this decision tends to oversimplify matters because it seems to differentiate responsibilities for climate change adaptation according to differences in the contribution to anthropogenic climate change only. However, the differentiation of responsibilities for climate change adaptation is more complex than it first appears to be. To show why the differentiation of responsibilities for climate change adaptation is more complex, this paper analyzes the aspects of responsibility as a fourfold concept. Someone is always responsible for something, answerable to some institution, and held accountable to a norm. The paper argues, first, that the appropriate object of responsibility in climate change adaptation is the burdens to be shared for effective and efficient adaptation. Second, for such adaptation to occur, however, subjects of responsibility should not only be developed countries. If appropriate competence and decision-structures are given in developing countries, these countries should also be deemed responsible for their own adaptation. Third, the paper shows that those vulnerable to the adverse effects of climate change should decide on their own what adaptation measures they wish to take. Fourth, the argument of this paper suggests that ability-to-pay principles are the most appropriate norms by which to blame countries for failing their responsibilities in climate change adaptation. (shrink)

Climate change has caused serious threats to global economic development and human well-being, and green finance is a new way to achieve ecological, economic, and social sustainable development, and it also has important theoretical significance and policy value. This study firstly aims to study the impact of green finance on regional carbon intensity. Then, it aims to determine the moderating effect of capital stock per capita on the relationship between green finance and carbon intensity based on (...) moderating effect model as well as to investigate the threshold effect of capital stock per capita on the relationship between green finance and carbon intensity based on threshold effect model. The main conclusions are as follows: Every 1% increase in green finance will lead to a 2% decrease in carbon intensity, and the inhibition of green finance on carbon intensity is most obvious in northeast and east China. The capital stock per capita has a significant moderating effect, which could enhance the restraining effect of green financial development on carbon intensity, and this moderating effect is most obvious in northeast China. The capital stock per capita has a threshold effect in the process of green finance development to suppress carbon intensity. The higher the capital stock per capita, the stronger the inhibition effect of green finance development on carbon intensity. Therefore, in the process of capital accumulation, attention should be paid to improve the relevant legal system and policy guarantee, optimization of financial structure, and stimulation of the capital allocation effect of green finance. Simultaneously, in order to strengthen the inhibitory effect of green finance on carbon intensity, differentiated green finance development policies should be formulated based on factor endowment structure and comparative advantages of different regions. (shrink)

Under the banner of “data for good,” companies in the technology, finance, and retail sectors supply their proprietary datasets to development agencies, NGOs, and intergovernmental organizations to help solve an array of social problems. We focus on the activities and implications of the Data for Climate Action campaign, a set of public–private collaborations that wield user data to design innovative responses to the global climate crisis. Drawing on in-depth interviews, first-hand observations at “data for good” events, intergovernmental (...) and international organizational reports, and media publicity, we evaluate the logic driving Data for Climate Action initiatives, examining the implications of applying commercial datasets and expertise to environmental problems. Despite the increasing adoption of Data for Climate Action paradigms in government and public sector efforts to address climate change, we argue Data for Climate Action is better seen as a strategy to legitimate extractive, profit-oriented data practices by companies than a means to achieve global goals for environmental sustainability. (shrink)

The Durban Platform for Enhanced Action was adopted at the 2011 United Nations Framework Convention on Climate Change Conference (UNFCCC) in South Africa and one of the key achievements of the 2011 UN Conference was the agreement on and the launch of the Green Climate Fund. As the international community prepares for the 2012 UNFCC talks to start in Qatar in November-December 2012, the past history of global environmental and climate change financing issues as well as the (...) role of finance and investment in addressing global climate change will be examined in this article using the Green Climate Fund as a case study. While it is hard to be optimistic about the current international geo-political context and the policy success of the Durban Platform for Enhanced Action, the Green Climate Fund does represent a real opportunity to move forward on global climate governance and bring real economic and technological dividends to the developing world. (shrink)

While previous research has primarily focused on the impact of climate risk on corporate socially responsible behaviors, this study investigates how climate risk may influence corporate social irresponsibility. Using panel data from Chinese listed firms spanning from 2003 to 2020, we find that heightened exposure to climate risk correlates with an increased likelihood of fraud commission. Moreover, we observe that financial distress positively moderates the relationship between climate risk and corporate fraud, particularly within climate-vulnerable industries (...) or financially constrained firms. Our findings further suggest that climate risk exacerbates corporate fraud by increasing pressures related to performance, debt financing, and shareholder demand. This study highlights the detrimental role of climate risk in shaping corporate ethics and amplifying the incidences of corporate fraud. (shrink)

A global target of stabilizing greenhouse-gas concentrations at between 450 and 550 parts per million carbon-dioxide equivalent has proven robust to recent developments in the science and economics of climate change. Retrospective analysis of the Stern Review suggests that the risks were underestimated, indicating a stabilization target closer to 450 ppm CO2e. Climate policy at the international level is now moving rapidly towards agreeing an emissions pathway, and distributing responsibilities between countries. A feasible framework can be constructed in (...) which each country takes on its own responsibilities and targets, based on a shared understanding of the risks and the need for action and collaboration on climate change. The global deal should contain six key features: a pathway to achieve the world target of 50 per cent reductions by 2050, where rich countries contribute at least 75 per cent of the reductions; global emissions trading to reduce costs; reform of the clean development mechanism to scale up emission reductions on a sectoral or benchmark level; scaling up of R&D funding for low-carbon energy; an agreement on deforestation; and adaptation finance. (shrink)

The ‘Lima Call for Climate Action’ decision marked the conclusion of the 20th session of the Conference of Parties to the United Nations Framework Convention on Climate Change. It expresses how the 196 UNFCCC Parties intend to negotiate the elements of a new agreement to be opened for signature in Paris at COP21. This ‘Paris Agreement’ would govern Parties starting in 2020, when the Kyoto Protocol's second commitment period ends. The new agreement would also move Parties beyond the (...) Kyoto Protocol's focus on mitigation to include adaptation, finance, technology development and transfer, and capacity building requirements. At COP20, Party delegates struggled to find consensus on how to act on the UNFCCC's core principle of ‘common but differentiated responsibilities and respective capacities’ when drafting the Call for Climate Action. In this article, we provide a detailed account of the evolution of the COP20 decision, to show how both its overall structure and specific language shifted in.. (shrink)

This book reflects on Indonesia's recent experience with REDD (Reducing Emissions from Deforestation and forest Degradation), all set within a broader discussion of neoliberal environmentalism, hyper-capitalism and Indonesian carbon politics. Drawing on the author's political ethnographic fieldwork conducted in Jakarta, Central Sulawesi and Oslo, where the author examined Norway's interests and role in implementing REDD, this book discusses the long evolution of the idea that foreign state and private financing can be used to protect tropical forests and the carbon stored (...) within them, resulting in both local economic development and global climate benefits. It shows how neoliberal environmental approaches to climate change, of which REDD is a leading example, increases the severity of political contestations that must be overcome to reach global climate mitigation goals, and how recent incarnations of REDD have tended to forget earlier scholarly advice to couple anti-deforestation approaches with policies that reduce industrial carbon emissions. In Indonesia, tectonic political and economic forces are shown to have negatively impacted REDD implementation. Using a political ecology approach, the book links the literature on REDD with that covering Indonesia's recent democratic regression, highlighting how the country's environmental performance is inextricably linked to the timbre of its political governance. Given the severity of the political contestations that must be overcome to reach its stated goals, REDD cannot replace global policies that drastically reduce industrial carbon emissions. This book will be of great interests to students and scholars of political ecology, deforestation, climate change, environmental politics, natural resource management and environmental conservation. (shrink)

EU co-legislators recently approved the EU carbon border adjustment mechanism (CBAM), which establishes a uniform carbon price on both EU and imported products, in ETS covered sectors. This violates the CBDR-RC principle. Yet, CBAM advocates claim that the resulting unfair mitigation can be offset by scaling up climate finance, to the benefit of poorer countries. I argue that the CBAM’s unfairness is compounded by previous climate injustice, as avoidable emissions by developed countries pushed the climate crisis (...) to the point where fair mitigation is no longer viable. This implies that a disadvantage within the distributive sphere of emissions abatement cannot be counterbalanced by additional advantages within the distributive sphere of climate finance. (shrink)

Due to ethical lapses of leaders, interest in ethical leadership has grown, raising important questions about the responsibility of leaders in ensuring moral and ethical conduct. Research conducted on ethical leadership failed to investigate the active role that the characteristics of ethical climate and organisational justice have an increasing or decreasing influence on the ethical leadership in the organisation’s outcomes of employees’ ethical behaviour. Thus, this study examined the dual-mediations of work ethical climate and organisational justice on the (...) relation of ethical leadership and ethical behaviour of employees. A total of 620 full-time employees from five Iraqi provinces working at 33 Iraqi organisations in the field of manufacturing, retailing, medical, insurance, information technology, legal, finance, and telecommunication responded to the questionnaire survey. Structural equation modelling (SEM) was used to test the model and data analysis was carried out using structural equation modelling-partial least square (SEM-PLS). The results revealed that there is a significant relationship between ethical leadership behaviour and the ethical behaviour of employees. Primarily, the study also found that ethical climate and organisational justice play a very significant mediating role between ethical leadership and employees’ ethical behaviour. (shrink)

Investments in mitigating climate change have their greatest environmental impact over the long-term. As a consequence the incentives to invest in cutting greenhouse gas emissions today appear to be weak. In response to this challenge there has been increasing attention given to the idea that current generations can be motivated to start financing mitigation at much higher levels today by shifting these costs to the future through national debt. Shifting costs to the future in this way benefits future generations (...) by breaking existing patterns of delaying large-scale investment in low-carbon energy and efficiency. As we will see in this chapter, it does appear to be technically feasible to transfer the costs of investments made today to the future in such a way that people alive today do not incur any net cost (e.g. Foley, 2009; Rendall, 2011; Broome, 2012; Rezai et al., 2012; Rozenberg et al., 2013). The basic idea then is that governments can break current patterns of delaying mitigation investments by ensuring that their existing constituents do not need to make significant sacrifices. -/- The normative argument that we should finance mitigation by ‘borrowing from the future’ can be advanced in two general ways. The first is based on the empirical prediction that we will continue to see a pattern of very weak motivation among current generations to accept short-term mitigation costs. Thus, unless it becomes economically beneficial over the short-term to markedly increase investments in low-carbon energy and efficiency we should not expect to see sufficient investment to avoid dangerous levels of global warming. On this view finding a way to pass on the costs of mitigation to future generations is an imperfect solution to the problem of weak moral motivation today but much better than the status-quo (Broome, 2012, 37-48). On the second view, because we have good reason to expect that people in the future will be wealthier than people today (at least over the next century or so) and because the benefits of mitigation largely benefit people in the future, passing on most of the costs of mitigation to the future is actually a fair way to distribute these costs (Rendall, 2011). Notice that the second view is not dependent on the empirical premise that people today will not be motivated to make sufficient short-term sacrifices, although the problem of motivating the present will give additional support to the argument for redistributing costs to the future. -/- In this chapter I focus on the implications of the first approach. Specifically, the aim of this chapter is to take seriously the possibility that climate change has produced an extremely intractable political problem and that we must now consider strong measures that can break existing patterns of delaying mitigation. I defend the claim that if climate change involves a stark conflict of interests between current and future generations, then borrowing from the future would be both strategically and normatively much better than the status quo. However, I nevertheless challenge the borrowing from the future proposal on the grounds that it is not in fact the powerful tool for motivating existing agents that its proponents imagine it to be. The purpose of developing this critical argument is not, however, simply to throw doubt onto the idea of borrowing from the future. -/- Debt financing climate mitigation is a form of intergenerational buck-passing. In the climate ethics literature this type of buck-passing is usually viewed as deeply objectionable. As a consequence, normative theorising about climate governance tends to focus on institutional reforms that better represent the interests of future generations and inhibit buck-passing. My ultimate concern in this chapter is to argue that we cannot limit prescriptive normative theorising about climate governance to these types of reforms. If we really do find ourselves in a political context where the prospects for effective action are very poor then strategic forms of buck-passing may also make an important positive contribution to avoiding dangerous global climate change. Consequently, if debt financing is not as powerful of a motivational tool as imagined we still have strong reasons, I will argue, to identify other strategies that will change agents’ incentive structures. To this end I propose an alternative form of passing on the costs of mitigation to the future that warrants consideration. (shrink)

This article contributes a systematically approached, up-to-date synthesis of the current literature on ethics and carbon pricing. This is the first study on this topic performed using PRISMA methodology. We identify 210 sources discussing the ethical arguments for and against a variety of carbon pricing instruments. By analysing the primary arguments within the debate, we offer insights for policymakers regarding the selection and design of emissions abatement policy instruments. The review indicates that carbon pricing remains divisive in the debate about (...) ethical policy choices to reduce greenhouse gas (GHG) emissions. However, for most price instruments, many ethical objections can be resolved with careful attention to the instrument design. Also, although careful policy design may not fully resolve all justice concerns raised, this is not necessarily a strong argument against carbon pricing as alternative mitigation instruments may leave some justice-relate concerns unresolved. The key exception is offsets, for which the literature does not offer a solid ethical defense. This result has two main implications. First, research on the ethics of carbon pricing speaks against relying on offsets to close the gap between the developing countries' needs and current climate finance flows. Instead, less controversial forms of carbon pricing — such as a carefully designed international carbon tax — may provide new and innovative sources of climate finance. Second, while many critiques of carbon pricing are focussed on the shortcomings of carbon pricing as a policy used in isolation from other tools, we call for further research on how to incorporate both pricing and non-pricing instruments into a more comprehensive climate policy. (shrink)

This chapter argues that central banks find themselves between a rock and a hard place when it comes to green central banking. Either they endorse the project, exposing them to the charge that they lack the input legitimacy to do so, or they eschew taking into account climate concerns, thus undermining their output legitimacy. Our discourse analysis of central bankers’ speeches shows that disagreements among officials from the same institution regarding green central banking are grounded on issues outside their (...) core expertise. Furthermore, neither the conservative nor the progressive central bankers defend positions that have the potential to overcome the legitimacy dilemma we formulate. (shrink)

In this paper, I explore the question of how the costs of undertaking an important type of climate change mitigation should be shared amongst states seeking an environmentally effective and equitable response to global climate change. While much of the normative literature on climate mitigation has focused on burden sharing within the context of reductions in emissions of greenhouse gas, I explore the question of how the costs of protecting tropical forests in order to harness their (...) class='Hi'>climate mitigation potential should be distributed amongst developing and developed states. In response to this question, I outline and defend a ‘beneficiary pays’ account of forestry mitigation burden sharing that requires affluent states to finance measures supporting avoided deforestation while less affluent states, within whose territory these forests tend to be located, implement these measures. The normative basis for this account, I argue, is a principle of ‘unjust enrichment’ according to which developed states must bear much of the cost of avoided deforestation for its climate mitigation potential because of the huge economic benefits their citizens have accumulated from productive activities that have contributed to climate change. (shrink)

Climate change, energy price spikes, and concerns about energy security have reignited interest in state and local efforts to promote end-use energy efficiency, customer-sited renewable energy, and energy conservation. Government agencies and utilities have historically designed and administered such demand-side measures, but innovative third-party administrative models present new options to finance, market, and deliver sustainable energy services to energy end-users. This study outlines the concept of a new third-party administrative model, a sustainable energy utility (SEU), with the potential (...) to achieve deep energy efficiency savings and a high penetration of customer-sited renewable energy. An SEU is characterized by central coordination, comprehensive programs, flexible incentives, financial self-sufficiency, competitive procurement, and a focus on delivering energy services rather than commodity energy. (shrink)

In the last two decades the Israeli educational system has undergone major changes which have transformed it from a state-controlled, overly bureaucratic and almost fully state-financed system into a decentralized, partly locally controlled and increasingly privately financed system. Advocates of this transformation of the educational system appeal to the ideal of parental choice. They argue that the implementation of parental choice programs in education shows more respect to the children and their unique talents, take their self-realization seriously and promotes equal (...) opportunities in education. The ideal of parental choice is also upheld in relation to value of cultural pluralism. Supporters of educational autonomy advocate the restructuring of schools in a way allowing them to develop a unique climate and curriculum consistent with respective communities and parents' preferences. The aim of this paper is to assess critically the changes that Israeli educational system has undergone against the background of the principle of equal educational opportunities. The main claim of the paper is that these changes undermine this principle. It will be argued that these changes actually cater mainly to the educational interests of middle and upper middle classes in Israeli society. (shrink)

Investments in mitigating climate change have their greatest environmental impact over the long term. As a consequence the incentives to invest in cutting greenhouse gas emissions today appear to be weak. In response to this challenge, there has been increasing attention given to the idea that current generations can be motivated to start financing mitigation at much higher levels today by shifting these costs to the future through national debt. Shifting costs to the future in this way benefits future (...) generations by break- ing existing patterns of delaying large-scale investment in low-carbon energy and efficiency. As we will see in this chapter, it does appear to be technically feasible to transfer the costs of investments made today to the future in such a way that people alive today do not incur any net cost. the aim of this chapter is to take seriously the possibility that climate change has produced an extremely intractable political problem and that we must now consider strong measures that can break existing patterns of delaying mitigation. I defend the claim that if climate change involves a stark conflict of interests between current and future generations, then borrowing from the future would be both strategically and normatively much better than the status quo. Nevertheless, I challenge the borrowing from the future proposal on the grounds that it is not in fact the powerful tool for motivating existing agents that its proponents imagine it to be. The purpose of developing this critical argument is not, however, simply to throw doubt onto the idea of borrowing from the future. If we really do find ourselves in a political context where the prospects for effective action are very poor then strategic forms of buck-passing may make an important positive contribution to avoiding dangerous global cli- mate change. Consequently, if debt financing is not as powerful of a motivational tool as imagined we still have strong reasons, I will argue, to identify other strategies that will change agents’ incentive structures. To this end, I propose an alternative form of passing on the costs of mitigation to the future that warrants consideration. (shrink)

Adverse environmental and economic impacts of Icelandic volcano triggered discussions about nature’s astounding and unpredictable fury, alongside the inadequacy of human ingenuity and science to deal with factors that are totally independent and practically impossible to control.The first part of this article discusses questions related to understanding of deep uncertainty and possibility of effectively combining qualitative and quantitative analysis. Apparently the problem of incorporating surprise, critical threshold and abrupt changes is well studied in finance, but its poor application led (...) to the latest financial crisis. It would be far more complicated when applied to complex or “wicked” events like deforestation, the conservation of endangered species, industrial pollution and climate change. The authors identify a range of problems in global idea of ‘sustainability’ and explore complexity of uncertainty. The second part reviews innovative approach that pretends to reconcile the needs of local communities with the protection of the natural world. (shrink)

Introduction : changing forms of global order. Towards a multipolar world ; The paradox of our times ; Economic liberalism and international market integration ; Security ; The impact of the global financial crisis ; Shared problems and collective threats ; A cosmopolitan approach ; Democratic public law and sovereignty ; Summary of the book ahead -- Cosmopolitanism : ideas, realities and deficits. Globalization ; The global governance complex ; Globalization and democracy : five disjunctures ; Cosmopolitanism : ideas and (...) trajectories ; Cosmopolitan realities ; Addressing the institutional deficit : reframing the market -- Principles of cosmopolitan order. Cosmopolitan principles ; Thick or thin cosmopolitanism? ; Cosmopolitan justifications ; From cosmopolitan principles to cosmopolitan law -- Cosmopolitan law and institutional requirements. The idea of cosmopolitan law ; Institutional requirements ; In sum ; Political openings -- Violence, law and justice in a global age. Reframing human activity : international law, rights and responsibilities ; 9/11, war and justice ; Islam, the Kantian heritage and double standards ; Concluding reflections -- Reframing global governance : apocalypse soon or reform!. The paradox of our times ; Why be concerned with global challenges? ; Deep drivers and governance challenges ; Global governance : contemporary surface trends ; Problems and dilemmas of global problem-solving ; Strengthening global governance ; Global governance and the democratic question ; Multilevel citizenship, multilayered democracy -- Parallel worlds : the governance of global risks in finance, security and the environment. Global governance and the paradox of our times ; The global governance of finance ; The global governance of security ; The global governance of the environment ; Conclusion : crisis, politicization and reform -- Democracy, climate change and global governance. Democracy I : the democratic nation-state and climate change ; Democracy II : global governance and climate change ; The policy debate : squaring the circle? ; The political elements of a democratic global deal ; Democracy and the policy menu ahead. (shrink)

Sustainable Entrepreneurship stands for a business driven concept of sustainability which focusses on increasing both social as well as business value - so called Shared Value. This book shows why and how this unique concept has the potential to become the most recognised strategic management approach in our times. It aims to point out the opportunities that arise from putting sustainable entrepreneurship into practice. At the same time, this book is a wake-up call for all those companies and decision makers (...) who underestimated Sustainable Entrepreneurship before or who are simply not aware of its greater dimension. Well structured chapters from different academic and business perspectives clearly outline how Sustainable Entrepreneurship contributes to solving the world's most challenging problems, such as Climate Change, Finance Crisis and Political Uncertainty, as well as to ensuring business success. The book provides a framework of orientation where the journey might go: What can a successful concept of SE look like? What are the key drivers for its realisation? What is the role of business in shaping the future of our society? The book also presents best practices and provides unique learnings as well as business insights from the international Sustainable Entrepreneurship Award (www.se-award.org). The Sustainable Entrepreneurship Award (short SEA) is an award for companies today who are thinking about tomorrow by making sustainable business practices an integral part of their corporate culture. Companies that receive the SEA are being recognised for the vision they have shown in combining economic and sustainable responsibility. (shrink)

"One of the outstanding authorities on the early days of the Republic, Saul K. Padover offers in this volume a generous sampling of the letters, essays, speeches, discourses, and personal documents--many of them previously unpublished--of the men who made America. Included are extensive selections from the papers and speeches of John Adams, Benjamin Franklin, Alexander Hamilton, Thomas Jefferson, James Madison, and George Washington. There are also copious extracts from the private and public utterances of secondary, but important, figures of the (...) founding days--Samuel Adams, Elbridge Gerry, Patrick Henry, John Dickinson, Oliver Ellsworth, William Paterson, Benjamin Rush, George Wythe, and many others. A number of the speeches made at the Constitutional Convention in 1787 are given in full, and several of the important debates are reproduced. John Dickinson's Letters from an American Farmer in Pennsylvania appear in these pages as well as many of Alexander Hamilton's famous and brief opinions. Also included are John Hancock's speech on the Boston Massacre; Thomas Jefferson's Notes on Virginia; James Madison's Memorial against Religious Assessments; two of the most important of John Marshall's Supreme Court decisions (Marbury vs. Madison and McCulloch vs. Maryland); Robert Morris' Letters on Finance; John Taylor's paper On Aristocracy, and William Paterson's Plan for a Constitution. Taken together, these writings offer in one volume a complete picture of the thinking, the debate, the legal maneuvers, the compromises, the manners, and the morals of the American nation's earliest days. The book provides a sound basic appreciation of the atmosphere in which the Founding Fathers worked and planned and debated with one another. All the many counter-currents that contributed to the building of the Constitution, the stresses to which the young nation was subjected, the rebellion that continued to seethe, the moral climate of the days--these are all recreated in the speeches and writings of America's first patriots. Dr. Padover has bound the selections together with enlightening commentary that enables the reader to understand the exact circumstances of each utterance and brings the particular work into historical perspective."--Jacket. (shrink)

The United States is currently the linchpin of global trade, technology, and finance, and a military colossus, extending across the world with a network of bases and alliances. This book anticipates the possible issues raised by a transition between American dominance and the rise of alternative powers. While a 'post-American' world need not be any different than that of today, the risk associated with such a change provides ample reason for attentive study. Divided into four parts, 50 international relations (...) scholars explore and discuss: Power Transitions: addressing issues including the rise of China; the passing of American primacy and the endurance of American leadership. War and Peace: addressing nuclear weapons; the risk of war; security privatization and global insecurity Global Governance: addressing competition, trade, the UN, sovereignty, humanitarian intervention, law and power. Energy and the Environment: addressing resource conflict, petrol, climate change and technology. This unique project offers a compilation of disparate arguments by scholars and policy practitioners, encompassing a plurality of disciplines and theoretical perspectives. By providing clarity and focus to this essential debate on the future of the world in the next several decades, Debating a Post-American World will be of interest to students and scholars of International Relations and global politics, American politics, US Foreign policy and International Security. (shrink)

Rural diversification strategies in Zimbabwe are wide in nature but the environment plays an important role in ensuring that sustainability and structural transformation are achieved. A good understanding of the diversity of rural livelihoods choices and income sources among rural households would therefore inform policy makers on appropriate policy interventions. This paper delves to establish the role of rural diversification strategies in promoting structural transformation in Zimbabwe using Insiza district as a case study. A mixed methods research design was used. (...) Both qualitative and quantitative data collection methods were applied. The study utilized semi-structured interviews with key informants who were purposively sampled to take part in the study. A total of 100 questionnaires were distributed and 86 were returned thus giving the researcher a response rate of 86%. The study’s findings noted that rural diversification is an important component of the rural economy and it plays an important component in order to achieve structural transformation using Insiza district in Zimbabwe as a case study. The study also noted that though climate was negatively impacting on the Insiza district residents, households that diversified their income sources had enhanced income compared with farming households which do not diversify their income sources being vulnerable. The study recommends that the government should intervene by financing and educating the rural folk. Micro-policy should be targeted on rural households incomes that facilitate the provision of widening income options through small scale group schemes. (shrink)

Many years have passed since the first liberalization processes in the electricity sectors the in European Union that were performed in order to establish a single market for electricity. In practice, convergence between neighbouring market areas was established mainly between the Member States in Central-Western Europe, while other countries have allowed for only limited levels of competition. As a consequence, many market areas remain illiquid and consumers pay relatively higher prices for the energy they consume. The final bill is further (...) increased through financing the increasingly ambitious climate agenda, gradually leading to social opposition against ever-growing prices. The aim of this article is to provide examples of differences in market functioning in Member States, leading to discrepancies in average energy costs for end consumers. The consequences of different levels of market concentration, infrastructure investments and renewable generation subsidization are analysed using publicly available statistics. Careful literature review is also performed before the conclusions are presented. (shrink)

Agricultural crops developed using the tools of genetic engineering have become socially institutionalized in three ways that substantially compromise the inherent potential of plant transformation tools. The first is that when farming depends upon debt finance, farmers find themselves in a competitive situation such that efficiency-enhancing technology fuels a trend of bankruptcy and increasing scale of production. As efficiency increasing tools, GMOs are embedded in controversial processes of social change in rural economies. The United States, at least, has chosen (...) not to undertake policy interventions to slow or reverse this trend. The second institutionalization of GMOs is found in the way that agricultural science has become divided between two camps, one focused on efficiency and total global production, the other focused on maintaining soil and water ecosystems in the face of both population growth and climate change. GMOs have been strongly supported by the first camp and regarded as irrelevant to the goals of the second. Finally, GMOs have become symbolic markers in the global debate over neoliberal institutions for trade and the protection of intellectual property. While there may be agronomic arguments for favoring GMO technology, the way that it has become situated in each of these social debates insures that it will be subject to strong opposition without regard to its biological risks and potential benefits. (shrink)

In the midst of the current ecological crisis, there is often lofty talk of the need for humanity to ‘overcome its divisions’ and work together to tackle the big challenges of our time. But as this new book by Razmig Keucheyan shows, the real picture is very different. Just take the case of the siting of toxic waste landfills in the United States: if you want to know where waste is most likely to be dumped, ask yourself where Blacks, Hispanics, (...) Native Americans and other racial minorities live and where the poorest neighbourhoods are. This kind of ‘environmental racism’ is by no means restricted to the United States: it is very much a global phenomenon. Keucheyan show how the capitalist response to the crisis has been marked by a massive expansion in ‘environmental finance’. From ‘carbon markets’ to ‘pollution permits’, ‘climate derivatives’ and ‘catastrophe bonds’, we are seeing a proliferation of nature-related financial products. Instead of tackling the root of the problem, the neoliberal strategy seeks to profit from environmental risks. Moreover, with the rise in natural disasters, resource scarcity, food crises, the destabilization of the poles and oceans and the prospect of tens of millions of ‘climate refugees’, Western powers are increasingly adopting a military response to ecological problems. The Cold War is over: welcome to the ‘green wars’. From New Orleans to the Siachen glacier via the Arctic floes, Keucheyan explores the landmark sites of this new ‘climate geostrategy’. Through a sharp critique of the way capitalism responds to environmental disaster, this innovative book provides a fresh perspective on some of the most critical issues confronting our societies today. (shrink)