The Political Economy of Green Bonds in Emerging Markets - Manuel Neumann

The Political Economy of Green Bonds in Emerging Markets

South Africa's Faltering Transition

(Autor)

Buch | Softcover
XVII, 281 Seiten
2024
Springer International Publishing (Verlag)
978-3-031-30504-7 (ISBN)
117,69 inkl. MwSt
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 project grapples with this puzzle. Firstly, it debunks some of the promises underpinning green bond markets and traces the manifold practices undergirding its promotion. Secondly, it 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. Thirdly, 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. It argues that the limited uptake of green bonds can best be explained by the instrument's inability to adequately incorporate the various demands levied on South Africa's contested transition trajectory. 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 markets.

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 Research Fellow at "Glocalpower", a research group anchored in the Department of Political Science at Kassel University, Germany. He successfully defended his PhD at University of Kassel and holds a master's degree in Globalisation and Development from SOAS (University of London). His research features in peer-reviewed journals like the ERSS and Politics & Governance and revolves around the political economy of energy transitions in the global South more generally and green financial tools in particular.

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.

Erscheinungsdatum
Reihe/Serie International Political Economy Series
Zusatzinfo XVII, 281 p. 6 illus., 5 illus. in color.
Verlagsort Cham
Sprache englisch
Maße 148 x 210 mm
Themenwelt Sozialwissenschaften Politik / Verwaltung Europäische / Internationale Politik
Sozialwissenschaften Politik / Verwaltung Vergleichende Politikwissenschaften
Wirtschaft Betriebswirtschaft / Management Finanzierung
Wirtschaft Volkswirtschaftslehre Wirtschaftspolitik
Schlagworte Cultural Political Economy • Financialization in emerging markets • Green Bonds • Green finance • Low-Carbon Transitions • South Africa
ISBN-10 3-031-30504-3 / 3031305043
ISBN-13 978-3-031-30504-7 / 9783031305047
Zustand Neuware
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