Towards green banking

Maciej Mikliński
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Abstract

The purpose of the study is to present, using the method of critical analysis of the literature, the selected issues accompanying the phenomenon of so-called "green banking". Green banking includes two main aspects. Internally, it manifests itself as an effort to make the operation of banks environmentally neutral. In the external aspect, i.e. the scope of banks' operation in the market, the idea of green banking is used in the selection of assets in which banks financially engage. As a result, banking institutions are becoming an important instrument for transmitting environmental policy impulses to the economy, particularly by excluding the financing of some traditional industries such as the fossil fuel industry. While the goal of climate protection itself is understandable, the manner and pace of pursuing it is no longer necessarily so. On the one hand, banks succumbing to political and social pressure are imposing pro-environmental missions on themselves, including a rapid shift away from financing the fossil fuel industry. On the other hand, such an approach results in a feedback mechanism through which the likelihood of the creation of so-called stranded assets in the financial system increases, i.e. the loss of value of bank assets previously involved in and linked to environmentally damaging industries. The magnitude of the impact of this phenomenon on the stability of the financial system is difficult to estimate, as its negative effects will not only directly affect the funds involved in certain industries but will also cause the price of commodities and thus of derivatives based on them or related to them to become unstable.
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迈向绿色银行
本研究的目的是采用文献批判性分析的方法,提出伴随所谓“绿色银行”现象的选定问题。绿色银行主要包括两个方面。在内部,它表现为努力使银行的经营环境中性。在外部方面,即银行在市场上的经营范围,绿色银行的理念被用于银行金融参与的资产选择。因此,银行机构正在成为向经济传递环境政策冲动的重要工具,特别是通过排除对某些传统工业如化石燃料工业的融资。虽然气候保护的目标本身是可以理解的,但追求它的方式和速度却不再是必须的。一方面,银行屈服于政治和社会压力,正在给自己施加亲环境的使命,包括迅速放弃为化石燃料行业提供融资。另一方面,这种做法产生了一种反馈机制,通过这种机制,金融体系中产生所谓搁浅资产的可能性增加,即以前涉及和与环境破坏行业有关的银行资产的价值损失。这种现象对金融体系稳定性的影响程度难以估计,因为其负面影响不仅会直接影响到某些行业的资金,还会导致商品价格以及基于这些商品或与之相关的衍生品价格变得不稳定。
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来源期刊
CiteScore
1.00
自引率
16.70%
发文量
13
期刊介绍: In legislation and in case law, European law has become a steadily more dominant factor in determining national European company laws. The “European Company”, the forthcoming “European Private Company” as well as the Regulation on the Application of International Financial Reporting Standards (“IFRS Regulation”) have accelerated this development even more. The discussion, however, is still mired in individual nations. This is true for the academic field and – even still – for many practitioners. The journal intends to overcome this handicap by sparking a debate across Europe on drafting and application of European company law. It integrates the European company law component previously published as part of the Zeitschrift für Unternehmens- und Gesellschaftsrecht (ZGR), on of the leading German law reviews specialized in the field of company and capital market law. It aims at universities, law makers on both the European and national levels, courts, lawyers, banks and other financial service institutions, in house counsels, accountants and notaries who draft or work with European company law. The journal focuses on all areas of European company law and the financing of companies and business entities. This includes the law of capital markets as well as the law of accounting and auditing and company law related issues of insolvency law. Finally it serves as a platform for the discussion of theoretical questions such as the economic analysis of company law. It consists of articles and case notes on both decisions of the European courts as well as of national courts insofar as they have implications on European company law.
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