Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 18, 2019 erstellt
Description:
The paper discusses the relevance and ethical responsibilities of banks and other financial institutions in the context of climate change mitigation (and adaptation). It does so by analysing the status quo (i.e., business link between banks and the fossil fuel industry) – as well as the latest market trends and developments, including the emergence of the green bond market. It also provides (theoretical) arguments for a business case for climate finance, and hence, for corporate social and environmental responsibility. The paper, thus, not only shows that banks are a crucial element to achieve the goals of the Paris Climate Accord (and to overcome the current climate crisis); it also shows that it makes sense from a business perspective for banks to divest from fossil fuels and to invest in renewable energies