Overview

The topic of ‘stranded assets’ created by environment-related risk factors has risen up the agenda dramatically, influencing many pressing topics in relation to global environmental change. For example: how best to manage the exposure of investments to environment-related risks so that financial institutions can avoid stranded assets; the financial stability implications of stranded assets and what this means for macroprudential regulation, microprudential regulation, and financial conduct; reducing the negative consequences of stranded assets by finding ways to address unemployment, lost profits, and reduced tax income; internalising the risk of stranded assets in corporate strategy and decision-making, particularly in carbon intensive sectors susceptible to the effects of societal action on climate change; underpinning arguments by civil society campaigns attempting to secure rapid decarbonisation to reduce the scale of anthropogenic climate change; and designing decarbonisation plans developed by governments, as well as companies and investors. Taken as a whole, this book provides some of the latest thinking on how stranded assets are relevant to investor strategy and decision-making, as well as those seeking to understand and influence financial institutions. This book was originally published as a special issue of the Journal of Sustainable Finance and Investment.

Full Product Details

Author:   Ben Caldecott (University of Oxford, UK)
Publisher:   Taylor & Francis Ltd
Imprint:   Routledge
Weight:   0.317kg
ISBN:  

9780367529994

ISBN 10:   0367529998
Pages:   184
Publication Date:   31 March 2021
Audience:   College/higher education ,  Tertiary & Higher Education ,  Undergraduate
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Introduction: stranded assets and the environment 1. Investment consequences of the Paris climate agreement 2. Blindness to risk: why institutional investors ignore the risk of stranded assets 3. Transition risks and market failure: a theoretical discourse on why financial models and economic agents may misprice risk related to the transition to a low-carbon economy 4. Social and asocial learning about climate change among institutional investors: lessons for stranded assets 5. Assessing the sources of stranded asset risk: a proposed framework 6. Climate change and the fiduciary duties of pension fund trustees – lessons from the Australian law 7. Game theory and corporate governance: conditions for effective stewardship of companies exposed to climate change risks 8. A comparative analysis of the anti-Apartheid and fossil fuel divestment campaigns

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Author Information

Ben Caldecott is founding Director of the Oxford Sustainable Finance Programme in the Smith School of Enterprise and the Environment at the University of Oxford, UK. He is a leading authority on sustainable finance and investment with a considerable international reputation. He has pioneered key concepts in his field, including the concept of ‘stranded assets’ and is the leading academic researcher in this area internationally.

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