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Handbook of Environmental and Sustainable Finance

Book Description

The use of financial concepts and tools to shape development is hardly new, but their recent adoption by advocates of sustainable environmental management has created opportunities for innovation in business and regulatory groups. The Handbook of Environmental and Sustainable Finance summarizes the latest trends and attitudes in environmental finance, balancing empirical research with theory and applications. It captures the evolution of environmental finance from a niche scholarly field to a mainstream subdiscipline, and it provides glimpses of future directions for research. Covering implications from the Kyoto and Paris Protocols, it presents an intellectually cohesive examination of problems, opportunities, and metrics worldwide.

  • Introduces the latest developments in environmental economics, sustainable accounting work, and environmental/sustainable finance
  • Explores the effects of environmental regulation on the economy and businesses
  • Emphasizes research about the trade-environmental regulation nexus, relevant for economics and business students

Table of Contents

  1. Cover image
  2. Title page
  3. Table of Contents
  4. Copyright
  5. Dedication
  6. List of Contributors
  7. Editors' Biography
  8. Contributors' Biography
  9. Acknowledgments
  10. Section 1. Environmental Regulations Post the Kyoto Protocol on Climate Change
    1. Chapter 1. Climate Change and Kyoto Protocol: An Overview
      1. 1.1. Introduction
      2. 1.2. Global Warming
      3. 1.3. United Nations Framework Convention on Climate Change
      4. 1.4. Kyoto Protocol
      5. 1.5. CDM: Project Eligibility, Project Cycle, and Executive Board
      6. 1.6. Carbon Finance and Types of Emission Reduction Credits
      7. 1.7. Climate Finance
      8. 1.8. National Level Emission Trading Systems
      9. 1.9. Kyoto Protocol: Journey and Current Developments
      10. 1.10. Conclusion
    2. Chapter 2. Environmental Policies Post the Kyoto Protocol on Climate Change: Evidence from the US and Japan
      1. 2.1. Introduction
      2. 2.2. Acid Rain
      3. 2.3. Asbestos
      4. 2.4. Agriculture
      5. 2.5. Electric Utilities
      6. 2.6. Climate Change
      7. 2.7. Oil and Gas Extraction Sector
      8. 2.8. Toxic Release Inventory
      9. 2.9. Construction Sector
      10. 2.10. Transportation Sector
      11. 2.11. Oil Spills and Hazardous Substance Releases
      12. 2.12. Risk Management Plan Rule
      13. 2.13. Water
      14. 2.14. Japanese Environmental Policies (MoE Environmental Policy)
      15. 2.15. Global Environment
      16. 2.16. Waste and Recycling
      17. 2.17. Air and Transportation
      18. 2.18. Water, Soil, and the Ground Environment
      19. 2.19. Health and Chemicals
      20. 2.20. Nature and Parks
      21. 2.21. Conclusion
    3. Chapter 3. Efficiency of U.S. State EPA Emission Rate Goals for 2030: A Data Envelopment Analysis Approach
      1. 3.1. Introduction
      2. 3.2. Literature Review
      3. 3.3. Methodology
      4. 3.4. Data
      5. 3.5. Results
      6. 3.6. Conclusion
  11. Section 2. Environmental Economics
    1. Chapter 4. Environmental Water Governance in the Murray-Darling Basin of Australia: The Movement from Regulation and Engineering to Economic-Based Instruments
      1. 4.1. Introduction
      2. 4.2. Water Management Governance Tools
      3. 4.3. The Murray-Darling Basin
      4. 4.4. Phases in Australia's Water Management in the MDB
      5. 4.5. The Development and Extension of Economic Instruments in the MDB
      6. 4.6. Future Policy Directions
      7. 4.7. Conclusion
      8. Appendix A: List of Abbreviations
    2. Chapter 5. Damages Evaluation, Periodic Floods, and Local Sea Level Rise: The Case of Venice, Italy
      1. 5.1. Introduction
      2. 5.2. Data and Methods
      3. 5.3. Results
      4. 5.4. Conclusion
    3. Chapter 6. Corporate Social Responsibility and Macroeconomic Uncertainty
      1. 6.1. Introduction
      2. 6.2. CSR and Macroeconomic Uncertainty
      3. 6.3. Data
      4. 6.4. Empirical Findings
      5. 6.5. Conclusion
    4. Chapter 7. Public Value of Environmental Investments: A Conceptual Outlook on the Management of Normatively Determined Risks
      1. 7.1. Introduction
      2. 7.2. The Rise of Environmental Investments
      3. 7.3. Historical Backgrounds
      4. 7.4. Public Value Theory and Normative Value Creation
      5. 7.5. Empirical Evidence on Public Value Measurement: The Public Value Atlas
      6. 7.6. Public Value and Reputational Risks
      7. 7.7. Hedging Normative Risks by Buying a Put-on Public Value
      8. 7.8. Conclusion
    5. Chapter 8. What Holds Back Eco-innovations? A “Green Growth Diagnostics” Approach
      1. 8.1. Introduction
      2. 8.2. Eco-innovation for Greening Growth
      3. 8.3. What Holds Back Eco-innovations?
      4. 8.4. Identifying and Prioritizing Barriers to Eco-innovation
      5. 8.5. Conclusion
    6. Chapter 9. Trade Openness and CO2 Emission: Evidence from a SIDS
      1. 9.1. Introduction
      2. 9.2. Literature Review
      3. 9.3. Methodology and Analysis
      4. 9.4. Conclusion
    7. Chapter 10. Will TAFTA Be Good or Bad for the Environment?
      1. 10.1. Introduction
      2. 10.2. Literature Review
      3. 10.3. Data Sources
      4. 10.4. Four Estimating Equations
      5. 10.5. Empirical Methodology
      6. 10.6. Empirical Results
      7. 10.7. Conclusion
    8. Chapter 11. Feminism, Environmental Economics, and Accountability
      1. 11.1. Introduction
      2. 11.2. Impact of Feminism in Economics
      3. 11.3. Female Economists' Contributions in Environmental Economics
      4. 11.4. Concluding Comments
  12. Section 3. Environmental/Sustainable Finance
    1. Chapter 12. Does National Culture Affect Attitudes toward Environment Friendly Practices?
      1. 12.1. Introduction
      2. 12.2. Literature Review
      3. 12.3. Methodology and Data
      4. 12.4. Empirical Results
      5. 12.5. Conclusion
    2. Chapter 13. The Economic and Financial Effects of Environmental Regulation
      1. 13.1. Introduction
      2. 13.2. The Costs of Production
      3. 13.3. Plant Location
      4. 13.4. Productivity at the Firm and Sectoral Level
      5. 13.5. Stock Prices, Returns, and Risk
      6. 13.6. Employment
      7. 13.7. Net Exports
      8. 13.8. Competitiveness
      9. 13.9. Economic Growth, Environmental Degradation, and Regulation
      10. 13.10. Aggregate Productivity
      11. 13.11. Conclusion
    3. Chapter 14. Environmental Challenges and Financial Market Opportunities
      1. 14.1. Introduction
      2. 14.2. Theory and Experiences with Cap-and-Trade
      3. 14.3. The Kyoto Protocol and Global Participation
      4. 14.4. Expected Future Emissions and Caps
      5. 14.5. The Size and Extent of Environmental Securitization
      6. 14.6. Conclusions
    4. Chapter 15. Environmental Finance
      1. 15.1. Introduction
      2. 15.2. Green Bonds
      3. 15.3. Conclusion
    5. Chapter 16. The Relationship between Screening Intensity and Performance of Socially Responsible Investment Funds
      1. 16.1. Introduction
      2. 16.2. Background, Literature Review, and Research Questions
      3. 16.3. Data and Methods
      4. 16.4. Results
      5. 16.5. Conclusion
    6. Chapter 17. Using CO2 Emission Allowances in Equity Portfolios
      1. 17.1. Introduction
      2. 17.2. Carbon Allowances and Literature Review
      3. 17.3. Data and Methodology
      4. 17.4. Results
      5. 17.5. Conclusion
    7. Chapter 18. The Returns from Investing in Water Markets in Australia
      1. 18.1. Introduction
      2. 18.2. Background of Water Markets in Australia
      3. 18.3. Water Investment Literature Review
      4. 18.4. Data
      5. 18.5. Methodology
      6. 18.6. Discussion and Conclusions
    8. Chapter 19. Product Market Competition and Corporate Environmental Performance
      1. 19.1. Introduction
      2. 19.2. Literature Review
      3. 19.3. Data and Methodology
      4. 19.4. Empirical Results
      5. 19.5. Conclusion
  13. Section 4. Funding and Accounting Systems
    1. Chapter 20. The Costs and Benefits of Cost–Benefit Analysis as Applied to Environmental Regulation
      1. 20.1. Introduction
      2. 20.2. Identifying and Measuring Costs
      3. 20.3. Identifying and Measuring Benefits
      4. 20.4. Calculating the Present Value of Net Benefits
      5. 20.5. The CBA Controversy
      6. 20.6. A Discussion of Controversial Issues
      7. 20.7. Conclusion
    2. Chapter 21. The Crowdfunding of Renewable Energy Projects
      1. 21.1. Introduction
      2. 21.2. Crowdfunding: Facts and Figures
      3. 21.3. Review of the Literature
      4. 21.4. The Sample
      5. 21.5. The Determinants of the Campaign Success
      6. 21.6. Conclusion
    3. Chapter 22. Management Accounting and Biodiversity: The Cultural Circuit of Capitalism and the Social Construction of a Perfect Market?
      1. 22.1. Introduction
      2. 22.2. FCA in Managerial Decision Making
      3. 22.3. The Cultural Circuit of Capitalism: Management Accounting and Control
      4. 22.4. The Deafening Noise: Biodiversity Crisis Shocks Functioning Markets?
      5. 22.5. The Sellers: Municipal Council Operating in a WHS
      6. 22.6. The Buyers Multinational Coal Mining
      7. 22.7. Conclusion: The Biodiversity Market and FCA
  14. Index