1st Edition

Routledge Handbook of Social and Sustainable Finance

Edited By Othmar M. Lehner Copyright 2017
    772 Pages 95 B/W Illustrations
    by Routledge

    772 Pages 95 B/W Illustrations
    by Routledge

    Routledge Handbook of Social and Sustainable Finance brings together an international cast of leading authorities to map out and display the disparate voices, traditions and professional communities engaged in social finance activity.

    With a clear societal or environmental mission, foundations, individual and group investors, as well as public bodies around the world have become increasingly eager to finance and support innovative forms of doing business. Together, founders and established businesses alike are embracing new sustainable business models with a distinct stakeholder approach to tackle social or environmental problems in what they see as a failed economic system in crisis. As a result, the topic of social and sustainable finance is at the forefront of financial economic thought.

    This Handbook is divided up into three parts. The first, "The Landscape of Social and Sustainable Finance and Investments", comprises of chapters from a multitude of perspectives in an effort to grasp the entirety of the landscape. The second, "Challenges, Suggestions, Critiques and Debates", focuses on areas ranging from sociological underpinnings to critical takes on markets, and the identification of specialized business models. Amongst ethical considerations, topics include the scaling of impact, an analysis of sustainability as risk prevention and comparative analyses of various methods of justification and measurement. In the third and final section, "Markets and Institutions", contributions range from various perspectives on sustainable banking to environmental marketplaces, and finally on to practical cases and country specific observations.

    This volume is essential reading for both academics and students in economics and finance. It is also of interest to those who study environmental economics, microeconomics and banking.

    Table of Contents

    Foreword Honorary - Prof. Gordon L. Clark, University of Oxford

    Foreword Editor- Othmar Lehner, University of Oxford

    Part 1. The Landscape of Social and Sustainable Finance and Investments

    1.1 Introducing Social and Sustainable Finance

    1.1.1- Linne Marie Lauesen - Vand og Affald

    1.1.2- Scott Fullwiler - Wartburg College

    1.1.3- Gadaf Rexhepi - South East European University

    1.1.4- Belinda Bell - Social Incubator East & Helen Haugh - Cambridge Judge Business School

    1.1.5- Jess Daggers - University of Oxford & Alex Nicholls - University of Oxford, Said Business School

    1.2 Introducing Impact Investing

    1.2.1- Olaf Weber - University of Waterloo

    1.2.2- Alessandro Rizzello - Magna Graecia University of Catanzaro & Maria Cristina Migliazza - Magna Graecia University of Catanzaro & Rosella Carè - Magna Graecia University of Catanzaro & Annarita Trotta - Magna Graecia University of Catanzaro

    1.2.3- Rebecca Tekula - Pace University & Archana Shah - Pace University

    1.3 Special Instruments

    1.3.1- Othmar M. Lehner -University of Oxford

    1.3.2- Jim Clifford - City University & Tobias Jung - University of St Andrews

    1.3.3- Fergus Lyon - Middlesex University

    Part 2. Challenges, Suggestions, Critiques, and Debates

    2.1 Social Responsibility in Finance: Ideology, Risk and New Models

    2.1.1- Ainulashikin Marzuki - Universiti Sains Islam Malaysia & Andrew C. Worthington - Griffith University

    2.1.2- Christopher Mason - Swinburne University of Technology & John Simmons - University of Liverpool

    2.1.3- Julia M. Puaschunder - The New School for Social Research

    2.1.4- Binmahfouz Saeed - Independent researcher in Islamic Finance and Investments

    2.1.5- Tommi Lehtonen - University of Vaasa

    2.1.6- Eleonora Broccardo - University of Trento & Ericka Costa - University of Trento & Maria Mazzuca - University of Trento

    2.1.7- Mariana Bozesan - AQAL Capital

    2.2 Critical Perspectives on Markets, Institutions and Ideology

    2.2.1- Pascal Dey - University of St Gallen & Laurent Marti - University of St Gallen

    2.2.2- Tamaki Onishi - University of North Carolina at Greensboro

    2.2.3- Aaron Z. Pitluck - Illinois State University

    2.3 Hybridity, Business Models and Measurement

    2.3.1- Sean Geobey - University of Waterloo

    2.3.2- Gunnar Glänzel - University of Heidelberg & Björn Schmitz - Philiomondo

    2.3.3- Arne Kröger - Leibniz University Hanover & Christiana Weber - Leibniz University Hanover

    2.3.4- Carol Royal - The University of New South Wales & G. Sampath S. Windsor - The University of New South Wales

    2.2.5- Lisa Brandstetter - University of Applied Sciences Upper Austria & Othmar M. Lehner - University of Oxford

    Part 3. Markets and Institutions

    3.1 Social and Sustainable Banking

    3.1.1- Olaf Weber - University of Waterloo

    3.1.2- Daniel Tischer - University of Manchester & Sven Remer - Institute for Social Banking

    3.1.3- Clelia Fiondella - Second University of Naples & Marco Maffei - University of Naples "Federico II" Rosanna Spanò - University of Naples "Federico II"

    3.1.4- Andrea Bonoldi - University of Trento & Eleonora Broccardo - University of Trento & Luca Erzegovesi - University of Trento

    3.1.5- Philippe Gillet - Paris-Sud University & Julie Salaber - University of Westminster

    3.1.6- Mehmet Hasan Eken - Istanbul Commerce University & Suleyman Kale - Ziraat Bankasi & Huseyin Selimler - Ziraat Bankasi

    3.1.7- Adeboye Oyegunle -University of Waterloo

    3.2 Trading the Environment

    3.2.1- Deborah Cotton - University of Technology Sydney & Marija Buzevska - University of Technology Sydney

    3.2.2- Emmanuel Olatunbosun Benjamin - Bergische Universität Wuppertal (BUW), Technische Universität München (TUM) & Gertrud Buchenrieder - Martin-Luther-Universität Halle-Wittenberg, Technische Universität München (TUM)

    3.2.3- Noriko Fujiwara - Centre for European Policy Studies

    3.2.4- Scott J. Niblock - Southern Cross University & Jennifer L. Harrison - Southern Cross University

    3.3 Country Specifics and Cases

    3.3.1- Daniela Majerčáková - Comenius University

    3.3.2- Qihai CAI - Chinese University of Hong Kong

    3.3.3- Lisa M. Hanley - Zeppelin University & Aline Margaux Wachner - Zeppelin University & Tim Weiss - Zeppelin University

    3.3.4- Maximilian Martin - Impact Economy

    3.3.5- Guillermo Casasnovas - University of Oxford & Marc J Ventresca - University of Oxford

    3.3.6- Lauryn Agnew - Seal Cove Financial

    Part 4. Index


    Othmar M. Lehner is a full professor of Finance and a leading researcher in the field of social finance and impact investment. With a professional background as a bank manager, he now dedicates his academic career to the advancement of the field through research publications, advisory services, conferences, and lecturing in MBA and doctoral programmes.

    ‘The recent decade saw a dramatic rise in the popularity of terms ‘socially responsible’ or ‘sustainable’ and their use in many areas including finance. The terms have been widely utilized by businesses, politicians and researchers alike.  The dramatic diversity in the contexts where these terms were applied blurred the understanding of what exactly meant by ‘sustainable’ finance.  This book is a welcome attempt to put various aspects of sustainability and social responsibility together. It provides an impressively comprehensive taxonomy of thoughts, methods, approaches and ideas in the field. It is an excellent reference not just for researchers in the area but anyone who is open to alternative ideas to traditional finance theories and approaches.’ — Dr Alexandr Akimov, Senior Lecturer in Banking and Finance, Griffith Business School, Griffith University, Australia