Financialization of Green Capital: A Panacea?
AbstractClimate financing (green financing) is currently attracting a lot of attention as governments, private sector, multilateral institutions and the donor community endeavor to control and reduce carbon emission and its dire consequences on the planet. On the other hand, the global capital system has become sophisticated and largely driven by financialization of capital ? a shift of resources from production of goods and services to finance. This paper therefore seeks to explore the benefits and detriments of financialization of capital on climate or green financing. The paper surveys existing literature on financialization and green financing and blends the two concepts to substantiate the discussion. The paper argues that financialization of capital is an impetus for the participation of the private sector in climate financing in spite of the short-term nature of funding in this sector. Another major argument stems from the adverse effects donor funding in that it has a potential of crowding out private sector participation in green financing.
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How to Cite
Sibanda, M. (2013). Financialization of Green Capital: A Panacea?. Mediterranean Journal of Social Sciences, 4(6), 371. Retrieved from https://www.richtmann.org/journal/index.php/mjss/article/view/315
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