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The Sustainable Development Goals introduced by the United Nations in 2016 call for the significant mobilisation of finance. However, although sustainable investments are steadily increasing, there still remain large gaps within financing and the information that financial markets rely on is often incomplete or incorrect. For instance, the financial system has been structured around short-term frameworks and goals while the most pressing environmental and social challenges are long-term. Prices do not convey the cost of externalities associated with social and environmental challenges. It is…mehr

Produktbeschreibung
The Sustainable Development Goals introduced by the United Nations in 2016 call for the significant mobilisation of finance. However, although sustainable investments are steadily increasing, there still remain large gaps within financing and the information that financial markets rely on is often incomplete or incorrect. For instance, the financial system has been structured around short-term frameworks and goals while the most pressing environmental and social challenges are long-term. Prices do not convey the cost of externalities associated with social and environmental challenges. It is therefore important to implement the effective pricing of externalities and create a common language and taxonomy between investors, issuers and policy-makers in order to best serve sustainable development. Addressing this challenge, the authors delve deeper into the levers that can be pulled within the financial system to prompt an efficient ecosystem of sustainability-related information, allowing social and environmental externalities to be incorporated into the decision-making process of all market agents. Incentives needed for investors, issuers and intermediaries are proposed along with regulation that can trigger these incentives. This book offers a comprehensive collection of chapters which explore the ongoing evolution of the European regulatory framework, providing essential reading for policymakers, practitioners and researchers alike.

Autorenporträt
Nadia Linciano, PhD, is Head of the Research Division of the Commissione Nazionale per le Società e la Borsa (CONSOB), Italy, and CONSOB member of the Italian Committee for Financial Education. She previously held teaching positions at several Italian universities. Nadia studied economics at LUISS and University of Naples Federico II, Italy, and at York University, UK. Her research interests include sustainable finance, financial innovation, behavioural finance and financial education. Her research in these areas underpins several CONSOB reports and articles published in domestic and international journals. Paola Soccorso is a senior economist in the Research Division of CONSOB. She previously worked in the banking sector. Paola studied economics at Tor Vergata and Bocconi University, Italy. Her research interests include behavioural finance, households finance, sustainable investments, financial education and financial innovation. She is co-author of the Report on financial investments of Italian households and several studies. She is also engaged in the development of methodologies and the design of investor education programs. Claudia Guagliano is head of the Innovation, Products and Technology Unit in the Risk Analysis and Economics Department of the European Securities and Markets Authority (ESMA). She previously worked in the international financial relations department of the Italian Treasury and at CONSOB. Claudia studied economics at Bocconi University, Italy, and Pompeu Fabra University, Spain. Her research interests include financial and technological innovation, consumer protection and sustainable finance.