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Classiques Garnier

Which financial instruments for Agenda 2030? Enlightenment of Ecological Financial Theory

  • Publication type: Journal article
  • Journal: Entreprise & Société
    2020 – 2, n° 8
    . varia
  • Authors: Lagoarde-Segot (Thomas), Revelli (Christophe)
  • Abstract: This article sheds light on the issue of financing the 2030 Agenda. First of all, we highlight the analytical inconsistency of market financing strategies based on neoclassical theory. We then put forward the elements of an alternative strategy based on the issuance of a new category of financial instruments: the ecological sovereign security (ESS). Then, we develop "Philia 1.1", a new 32-equation stock-flow coherent model (SFC) to analyze the effects of issuing TSE on macroeconomic dynamics and the ecological transition process. Simulations suggest that the issuance of TSEs could help to drive an expansionary macroeconomic dynamic beneficial to employees, while embedding the additional activity in new ecological and social criteria. TSE emissions could therefore play a driving role in the pursuit of Sustainable Development Goals (SDGs).
  • Pages: 103 to 140
  • Journal: Business & Society
  • CLIL theme: 3312 -- SCIENCES ÉCONOMIQUES -- Économie publique, économie du travail et inégalités
  • EAN: 9782406114161
  • ISBN: 978-2-406-11416-1
  • ISSN: 2554-9626
  • DOI: 10.15122/isbn.978-2-406-11416-1.p.0103
  • Publisher: Classiques Garnier
  • Online publication: 02-08-2021
  • Periodicity: Biannual
  • Language: French
  • Keyword: green bonds, ecological financial theory, finance, sustainability, Sustainable Development Goals