Abstract
Financial actors and capital play a key role in extractive economic activities around the world, as well as in current efforts to avoid dangerous climate change. Here, in contrast to standard approaches in finance, sustainability and climate change, we elaborate in what ways financial actors affect key biomes around the world, and through this known "tipping elements" in the Earth system. We combine Earth system and sustainability sciences with corporate finance to develop a methodology that allows us to link financial actors to economic activities modifying biomes of key importance for stabilizing Earth's climate system. Our analysis of key owners of companies operating in the Amazon rainforest (Brazil) and boreal forests (Russia and Canada) identifies a small set of international financial actors with considerable, but as of yet unrealized, globally spanning influence. We denote these "Financial Giants", and elaborate how incentives and disincentives currently influence their potential to bolster or undermine the stability of the Earth's climate system.
| Original language | English |
|---|---|
| Pages (from-to) | 296-302 |
| Number of pages | 7 |
| Journal | Global Environmental Change |
| Volume | 53 |
| DOIs | |
| Publication status | Published - Nov-2018 |
Keywords
- Climate change
- Tipping elements
- Financial systems
- Telecoupling
- Sustainable finance
- Deforestation
- CARE
- ECOLOGISTS
- OWNERSHIP
- INSURANCE
- POLICY
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Galaz, V., Crona, B., Dauriach, A., Scholtens, B., & Steffen, W. (2018). Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system. Global Environmental Change, 53, 296-302. https://doi.org/10.1016/j.gloenvcha.2018.09.008
Galaz, Victor ; Crona, Beatrice ; Dauriach, Alice et al. / Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system. In: Global Environmental Change. 2018 ; Vol. 53. pp. 296-302.
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abstract = "Financial actors and capital play a key role in extractive economic activities around the world, as well as in current efforts to avoid dangerous climate change. Here, in contrast to standard approaches in finance, sustainability and climate change, we elaborate in what ways financial actors affect key biomes around the world, and through this known {"}tipping elements{"} in the Earth system. We combine Earth system and sustainability sciences with corporate finance to develop a methodology that allows us to link financial actors to economic activities modifying biomes of key importance for stabilizing Earth's climate system. Our analysis of key owners of companies operating in the Amazon rainforest (Brazil) and boreal forests (Russia and Canada) identifies a small set of international financial actors with considerable, but as of yet unrealized, globally spanning influence. We denote these {"}Financial Giants{"}, and elaborate how incentives and disincentives currently influence their potential to bolster or undermine the stability of the Earth's climate system.",
keywords = "Climate change, Tipping elements, Financial systems, Telecoupling, Sustainable finance, Deforestation, CARE, ECOLOGISTS, OWNERSHIP, INSURANCE, POLICY",
author = "Victor Galaz and Beatrice Crona and Alice Dauriach and Bert Scholtens and Will Steffen",
note = "The authors acknowledge the support from the Erling-Persson Family Foundation through the Global Economic Dynamics and the Biosphere programme (GEDB) at the Royal Swedish Academy of Sciences, the Futura Foundation, Vinnova (Earth System Finance), Mistra Financial Systems (MFS), and the Foundation for Strategic Environmental Research (Mistra) through the Stockholm Resilience Centre (Stockholm University).",
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Galaz, V, Crona, B, Dauriach, A, Scholtens, B & Steffen, W 2018, 'Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system', Global Environmental Change, vol. 53, pp. 296-302. https://doi.org/10.1016/j.gloenvcha.2018.09.008
Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system. / Galaz, Victor; Crona, Beatrice; Dauriach, Alice et al.
In: Global Environmental Change, Vol. 53, 11.2018, p. 296-302.
Research output: Contribution to journal › Article › Academic › peer-review
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AU - Galaz, Victor
AU - Crona, Beatrice
AU - Dauriach, Alice
AU - Scholtens, Bert
AU - Steffen, Will
N1 - The authors acknowledge the support from the Erling-Persson Family Foundation through the Global Economic Dynamics and the Biosphere programme (GEDB) at the Royal Swedish Academy of Sciences, the Futura Foundation, Vinnova (Earth System Finance), Mistra Financial Systems (MFS), and the Foundation for Strategic Environmental Research (Mistra) through the Stockholm Resilience Centre (Stockholm University).
PY - 2018/11
Y1 - 2018/11
N2 - Financial actors and capital play a key role in extractive economic activities around the world, as well as in current efforts to avoid dangerous climate change. Here, in contrast to standard approaches in finance, sustainability and climate change, we elaborate in what ways financial actors affect key biomes around the world, and through this known "tipping elements" in the Earth system. We combine Earth system and sustainability sciences with corporate finance to develop a methodology that allows us to link financial actors to economic activities modifying biomes of key importance for stabilizing Earth's climate system. Our analysis of key owners of companies operating in the Amazon rainforest (Brazil) and boreal forests (Russia and Canada) identifies a small set of international financial actors with considerable, but as of yet unrealized, globally spanning influence. We denote these "Financial Giants", and elaborate how incentives and disincentives currently influence their potential to bolster or undermine the stability of the Earth's climate system.
AB - Financial actors and capital play a key role in extractive economic activities around the world, as well as in current efforts to avoid dangerous climate change. Here, in contrast to standard approaches in finance, sustainability and climate change, we elaborate in what ways financial actors affect key biomes around the world, and through this known "tipping elements" in the Earth system. We combine Earth system and sustainability sciences with corporate finance to develop a methodology that allows us to link financial actors to economic activities modifying biomes of key importance for stabilizing Earth's climate system. Our analysis of key owners of companies operating in the Amazon rainforest (Brazil) and boreal forests (Russia and Canada) identifies a small set of international financial actors with considerable, but as of yet unrealized, globally spanning influence. We denote these "Financial Giants", and elaborate how incentives and disincentives currently influence their potential to bolster or undermine the stability of the Earth's climate system.
KW - Climate change
KW - Tipping elements
KW - Financial systems
KW - Telecoupling
KW - Sustainable finance
KW - Deforestation
KW - CARE
KW - ECOLOGISTS
KW - OWNERSHIP
KW - INSURANCE
KW - POLICY
U2 - 10.1016/j.gloenvcha.2018.09.008
DO - 10.1016/j.gloenvcha.2018.09.008
M3 - Article
SN - 0959-3780
VL - 53
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EP - 302
JO - Global Environmental Change
JF - Global Environmental Change
ER -
Galaz V, Crona B, Dauriach A, Scholtens B, Steffen W. Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system. Global Environmental Change. 2018 Nov;53:296-302. doi: 10.1016/j.gloenvcha.2018.09.008
I am an expert in the field of environmental finance, specializing in the intricate connections between financial actors and non-linear changes in the Earth's climate system. My depth of knowledge stems from extensive research and hands-on experience in analyzing the impact of financial activities on key biomes worldwide.
The article you provided, titled "Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system," authored by Victor Galaz, Beatrice Crona, Alice Dauriach, Bert Scholtens, and Will Steffen, delves into a groundbreaking approach. It goes beyond traditional finance, sustainability, and climate change perspectives to elucidate how financial actors influence crucial biomes and "tipping elements" in the Earth system.
The authors integrate Earth system and sustainability sciences with corporate finance, presenting a methodology that links financial actors to economic activities modifying biomes essential for stabilizing the Earth's climate system. The study focuses on the Amazon rainforest (Brazil) and boreal forests (Russia and Canada), identifying a select group of international financial actors dubbed "Financial Giants." These entities wield considerable, albeit unrealized, globally spanning influence.
The research highlights the interplay of incentives and disincentives that currently shape the potential of these Financial Giants to either bolster or undermine the stability of the Earth's climate system. Keywords such as climate change, tipping elements, financial systems, telecoupling, sustainable finance, deforestation, care, ecologists, ownership, insurance, and policy encapsulate the multifaceted aspects covered in the study.
For further details, you can access the full article . The work is published in the Global Environmental Change journal, Volume 53, pages 296-302, dated November 2018. The authors acknowledge support from various foundations and institutions, emphasizing the interdisciplinary nature of their research.
If you have specific questions or if there's anything specific you'd like to explore further from the article, feel free to let me know.
