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How sustainable finance creates impact: transmission mechanisms to the real economy

Abstract:

When and how does sustainable finance tangibly contribute to creating a better world? In this paper, we outline mechanisms through which impact on sustainability outcomes is transmitted from financial systems to the real economy. We argue that, to have a positive impact on sustainability outcomes, financial institutions must make a clear contribution to: (i) reducing (increasing) the cost of capital for firms’ (un)sustainable activities; (ii) increasing (reducing) their access to liquidity; a...

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Publication status:
Accepted
Peer review status:
Peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
SOGE
Sub department:
Smith School
Role:
Author
More by this author
Institution:
University of Oxford
Division:
SSD
Department:
SOGE
Sub department:
Smith School
Role:
Author
ORCID:
0000-0002-4264-1872
Publisher:
Springer
Journal:
Review of World Economics More from this journal
Acceptance date:
2024-04-10
EISSN:
1610-2886
ISSN:
1610-2878
Language:
English
Keywords:
Pubs id:
1990419
Local pid:
pubs:1990419
Deposit date:
2024-04-16

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