Private finance for sustainable development
Edited book (chapter)
Chapter Title | Private finance for sustainable development |
---|---|
Book Chapter Category | Edited book (chapter) |
ERA Publisher ID | 11304 |
3772 | |
Book Title | De Gruyter Handbook of Sustainable Development and Finance |
Authors | Sarker, Tapan (Author) and Cadman, Tim (Author) |
Editors | Cadman, Tim and Sarker, Tapan |
Page Range | 251-264 |
Series | De Gruyter Handbooks in Business, Economics and Finance |
Chapter Number | 12 |
Number of Pages | 14 |
Year | 2022 |
Publisher | Walter de Gruyter GmbH (European Journal of Nanomedicine) |
Walter de Gruyter | |
Place of Publication | Berlin, Germany |
ISBN | 9783110738292 |
9783110733488 | |
Digital Object Identifier (DOI) | https://doi.org/10.1515/9783110733488-012 |
Web Address (URL) | https://www.degruyter.com/document/doi/10.1515/9783110733488-012/html |
Abstract | Private financing is an important aspect of sustainable finance for economic development and financial inclusion. Various forms of private sector financing need to be mobilised to achieve environmentally or socially sustainable outcomes as well as the United Nations’ Sustainable Development Goals (SDGs). Strategically leveraging public finance through systemic change and stimulating private investment are both necessary to achieve a paradigm shift in the global economy (Clark, Reed, and Sunderland 2018). In the absence of the private sector progress will remain insufficient. A wide variety of impediments to incentivising private sector engagement persists. For private finance to make a positive contribution, fundamental systemic modifications and policy reforms are required to ensure that sustainable socioeconomic development happens within planetary boundaries (Steffen et al. 2015). This chapter consequently explores the unlocking of private sector finance to fulfil sustainability goals. However, not all is well in the private realm. Green bonds, while an innovative vehicle for investment, are problematic and wealth generation continues to be propped up by extreme poverty at the base of the economic pyramid. While new technologies, such as blockchain, offer a way forward for those at the base, progress will be limited unless and until the activities of all sectors are recognised and valued to the same extent as business as society emerges from the COVID-19 pandemic. |
Keywords | Artificial intelligence, base of the economic pyramid, green bonds, informal economy, private finance, voluntary sector, COVID-19 |
ANZSRC Field of Research 2020 | 350201. Environment and climate finance |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | School of Business |
University of Southern Queensland | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q7qyv/private-finance-for-sustainable-development
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