Sustainable Finance and Climate Change

Hardback

Sustainable Finance and Climate Change

Law and Regulation

9781800377271 Edward Elgar Publishing
Edited by René Smits, Professor Emeritus, Law of the Economic and Monetary Union, University of Amsterdam, the Netherlands
Publication Date: April 2024 ISBN: 978 1 80037 727 1 Extent: c 410 pp
Sustainable Finance and Climate Change explores the legal and regulatory framework that governs the transition to a carbon free economy, looking in particular at the regulation of the financial sector and corporate liability for climate change and biodiversity loss. In addition it looks at the effect on general corporate law, environmental law, central bank law, as well as litigation and arbitration.

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Critical Acclaim
Contributors
Contents
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Sustainable Finance and Climate Change explores the legal and regulatory framework that governs the transition to a carbon free economy, looking in particular at the regulation of the financial sector and corporate liability for climate change and biodiversity loss. In addition, it looks at the effect on general corporate law, environmental law, central bank law, as well as litigation and arbitration.

Key Features:
• Discussion of the duty of societal responsibility in the context of corporate governance
• Practical analysis of arbitration and litigation in the resolution of climate change-related disputes
• Exploration of the role of investors in the new sustainable finance-related regulatory framework
• Comprehensive examination of sustainable finance in South Africa
• In-depth analysis of the role of law and regulation in providing sustainable finance by means of various financial modalities
• Evaluation of the newly-established framework in the EU, including the Climate Law, the taxonomy and the role of the ECB as a monetary and supervisory authority

This important book will be a key resource for practitioners specialising in financial services, environmental law and dispute resolution, and will also appeal to scholars in these fields.
Critical Acclaim
‘This book discusses the impact of the currently severe climate change and biodiversity losses on the regulation of the financial system and the drive towards sustainable finance. It provides an in-depth analysis of the role of law and regulation in providing sustainable finance by means of various financial modalities, the duty of societal responsibility in the context of corporate governance, the role of investors in the context of the new sustainable finance-related regulatory framework, the related newly-established framework in the EU – including the role of ECB as a monetary and supervisory authority under its mandate – as well as in South Africa, and, finally, the significance of arbitration and litigation in the resolution of climate change-related disputes.’
– Christos Gortsos, National and Kapodistrian University of Athens, Greece

‘This book combines views in a way that is comprehensive and original, practical and insightful. René Smits as an editor, much like René Smits as an author, invites us to descend into the detail of legal challenges, while not letting us forget the human side behind them.’
– David Ramos Muńoz, Universidad Carlos III de Madrid, Spain

‘Addressing the existential threat posed by climate change requires policy makers to take an entirely holistic approach, one which integrates legal, regulatory and financial sector reform. This volume makes an invaluable contribution to this effort by bringing together the thinking of most informed academics and practitioners in the area.’
– Sean Hagan, Georgetown Law, US and former General Counsel of the International Monetary Fund

‘Sustainability is the common denominator that summarises the key challenges of our day: environmental sustainability, economic sustainability, social sustainability (encompassing also governance and ethical considerations). Financing the green transition is essential for the future of our planet. René Smits brings together a distinguished group of legal and regulatory experts to dissect the challenges of climate change and sustainable finance in what is destined to become an essential reference in the subject both for an interested general audience and for the specialist readership.’
– Rosa M. Lastra, Queen Mary University of London, UK
Contributors
Contributors include: Georges Affaki, Megan Bowman, David Brinkman, Heikki Cantell, Elisa de Wit, Ida Levine, Jonathan Maphosa, Tamlyn Mills, Habib Motani, René Smits, Jaap Winter
Contents
Contents:

1 Introduction to Sustainable Finance and Climate Change: Law and Regulation 1
René Smits
2 An overview of the legal and regulatory issues 6
Heikki Cantell
3 Sustainable finance and implementing the Paris Agreement: the key role of jurisdictional legal
and regulatory architecture 19
Megan Bowman
4 The Role of the Board, Societal Responsibility and Climate Change 34
Jaap Winter
5 The role of the investor 54
Ida Levine
6 The European Green Deal 100
Habib Motani
7 EU climate law 110
David Brinkman
8 The ECB’s mandate in the face of climate change and biodiversity loss 131
René Smits
9 Sustainable finance and regulation: a South African perspective 213
Jonathan Maphosa
10 Arbitration in climate change finance 260
Georges Affaki
11 Climate change litigation 286
Elisa de Wit and Tamlyn Mills
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