A Primer on Green Finance: From Wishful Thinking to Marginal Impact

Krahnen Jan (), Rocholl Jörg () and Marcel Thum
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Krahnen Jan: House of Finance , Goethe University Frankfurt, Frankfurt am Main, Hessen, Germany
Rocholl Jörg: ESMT European School of Management and Technology GmbH, Berlin, Germany

Review of Economics, 2023, vol. 74, issue 1, 1-19

Abstract: We raise some critical points against a naïve interpretation of “green finance” products and strategies. These critical insights are the background against which we take a closer look at instruments and policies that might allow green finance to become more impactful. In particular, we focus on the role of a taxonomy and investor activism. We also describe the interaction of government policies with green finance practice – an aspect, which has been mostly neglected in policy debates but needs to be taken into account. Finally, the special case of green government bonds is discussed.

Keywords: green finance; ESG goals; climate policy (search for similar items in EconPapers)
Date: 2023
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Working Paper: A primer on green finance: From wishful thinking to marginal impact (2021)
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DOI: 10.1515/roe-2023-0019

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