气候正义的金融创新:中央银行和变革性的“创造性破坏”

IF 3.5 3区 环境科学与生态学 Q1 DEVELOPMENT STUDIES Climate and Development Pub Date : 2023-11-03 DOI:10.1080/17565529.2023.2268589
Jennie C. Stephens, Martin Sokol
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引用次数: 0

摘要

全球金融架构,包括中央银行及其货币政策,对于利用变革性变革实现气候正义至关重要。然而,目前各国央行正在加剧而不是缓解气候危机和气候不公正。通过遵循新自由主义的政策范式,以及对价格稳定和金融稳定的狭义解释,中央银行正专注于稳定一个本质上不稳定的体系。这加速了全球气候的混乱,并加剧了未来的金融不稳定。认识到中央银行在促进气候正义方面的潜力以及对中央银行在气候危机中作用的忽视,本文为气候正义金融创新的新兴领域做出了贡献。首先,我们回顾了各国央行目前在促进和阻碍气候正义方面所做的工作。然后,我们探讨了央行可以用来实现变革性气候正义的货币政策工具。然后,我们提出了货币政策中的“创造性破坏”,这需要扩大中央银行的狭隘使命和新型的全球协调。这种对有意的创造性破坏的呼吁改变了有关金融稳定和气候政治的政策假设,并重新定义了如何实现变革性的系统性变革,以走向更加公平、公正、健康和可持续的未来。
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Financial innovation for climate justice: central banks and transformative ‘creative disruption’
Global financial architectures, including central banks and their monetary policies, are critical to leveraging transformative change for climate justice. Yet, currently central banks are exacerbating rather than mitigating the climate crisis and climate injustices. By following a neoliberal policy paradigm and narrowly interpreted mandates for price stability and financial stability, central banks are focusing on stabilizing a system that is inherently unstable. This accelerates climate chaos around the world and is worsening future financial instability. Recognizing both the potential of central banks to advance climate justice and the inattention of the role of central banks in the climate crisis, this paper contributes to the emerging field of financial innovation for climate justice. First, we review what central banks are currently doing to advance and hinder climate justice. Then we explore monetary policy tools that central banks could deploy for transformative climate justice. We then make the case for ‘creative disruption’ in monetary policy which requires expanding the narrow mandate of central banks and new kinds of global coordination. This call for intentional creative disruption changes policy assumptions regarding financial stability and climate politics and reconceptualizes how to achieve transformative systemic change to move toward a more equitable, just, healthy, sustainable future.
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来源期刊
CiteScore
8.90
自引率
4.70%
发文量
66
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