Environmental Finance: A Guide to Environmental Risk Assessment and Financial Products / Edition 1by Sonia Labatt, Rodney R. White
The emerging world of environmental finance has allowed modern industrial society to approach the environmental challenges of today and tomorrow in a profitable and positive manner. Environmental Finance: A Guide to Environmental Risk Assessment and Financial Products is one of the first books to cover this expanding field-a field that encompasses all… See more details below
The emerging world of environmental finance has allowed modern industrial society to approach the environmental challenges of today and tomorrow in a profitable and positive manner. Environmental Finance: A Guide to Environmental Risk Assessment and Financial Products is one of the first books to cover this expanding field-a field that encompasses all market-based instruments designed to deliver environmental quality and transfer environmental risk.
Environmental experts Sonia Labatt and Rodney White present an engaging and comprehensive look at the intersection of financial innovation with the environment. Through real-world case studies, industry insights, and timely advice, this book provides the strategies, techniques, and financial products that you as a financial service professional or corporate executive must understand in order to improve a company's environmental performance. In addition, Environmental Finance serves as an important source of information for concerned citizens and independent investors regarding proactive environmental corporate behavior patterns and environmentally enhanced financial products and investment strategies.
You'll gain a firm understanding of the concepts and tools used by financial institutions to develop environmental policies and products, and learn how recent changes in the financial services sector-globalization, deregulation, and technological innovation-have affected the capacity of companies to respond to the environmental challenge.
After this general foundation has been established, core financial services provided by commercial and investment banks as well as insurance companies are explored, along with their areas of environmental exposure. Environmental Finance also examines the investment and risk transfer opportunities created by new financial products. In-depth coverage of each topic reveals new products and services with environmental and social-centered themes, including:
* Banking products such as green mortgages
* Insurance for cost cap overruns for cleaning up polluted sites
* Weather derivatives to hedge exposure to adverse weather
* Catastrophe bonds for earthquakes and weather risks
* The beginning of markets for greenhouse gas-reduction credits
* Screening processes that have been used to develop socially and environmentally acceptable investment products
* And much more
Environmental Finance also examines other important issues that will continue to challenge financial institutions and their clients in the years ahead, including climate change and the attempt to develop a common methodology for environmental reporting. By integrating these discussions with the lessons drawn from real-world case studies and examples, this book will clearly help you understand and adapt to the environmental challenges that lie ahead.
Throughout most of the twentieth century, people assumed that there was an implicit trade-off between economic growth and an attractive environment. After reading Environmental Finance, you'll see how far we've come from this archaic notion and learn how to manage environmental risk by utilizing a variety of different financial products and strategies.
Table of Contents
CHAPTER 1: THE EMERGING WORLD OF ENVIRONMENTAL FINANCE.
An Emerging Field.
Why Is It Happening at This Particular Time?
How Might Environmental Finance Prepare Us for the Challenges Ahead?
CHAPTER 2: CONCEPTS AND TOOLS FOR DEVELOPING ENVIRONMENTAL FINANCE.
Environmental Management and Shareholder Value Creation.
Environmental Management Systems.
Looking Ahead: Scenarios and Simulations.
Tools for Risk Transfer.
Trading Atmospheric Emission Reduction Credits.
CHAPTER 3: THE FINANCIAL SERVICES SECTOR.
Structure of the Global Market for Financial Capital.
Forces Reshaping Financial Service Industries.
Core Financial Services.
Response of the Financial Services Sector to Deregulation.
Financial Services' Approach to Environmental Issues.
CHAPTER 4: BANKING.
Direct Liability of Contaminated Land.
Environmental Products and Services.
Niche Markets and Microcredit.
Internal Environmental Management.
UNEP Financial Institutions Initiative.
Measurements and Reporting of Environmental Management.
Climate Change: Risks and Opportunities for the Banking Sector.
Sustainable Energy Funds.
The Price of Carbon.
CHAPTER 5: INSURANCE.
Angus Ross, Invited Author's Comment.
Contaminants in the Environment.
Climate Change and Extreme Weather Events.
Transferring Risk from the Insurance Industry to the Capital Markets.
Regional Variations in the Response of Insurance Companies to the Environmental Challenge.
CHAPTER 6: INVESTMENTS.
Evolution of Screening for Social and Environmental Responsibility.
The Relationship between Environmental and Financial Performance.
Performance of Environmentally Screened Funds.
Variation in Research Results.
Socially Responsible Investment Portfolio Performance Ratings.
Institutional Portfolio Managers.
Environmental Products in Fund Management.
Environmental Research and Rating Organizations.
CHAPTER 7: CLIMATE CHANGE AND FINANCIAL VULNERABILITY.
Accepting Climate Change as a Real Phenomenon.
Physical Impacts of Climate Change.
Vulnerability by Economic Sector.
Anticipating Human Response to Climate Change.
Critical Factors in Human Response to Climate Change.
CHAPTER 8: Environmental Reporting and Verification.
Trends in Environmental Reporting.
Main Types of Environmental Reporting.
Pollution Release and Transfer Registers.
Accounting Profession and Security Regulators.
Environmental Reporting from the Preparer's Perspective.
Environmental Reporting from the User's Perspective.
Progress in Environmental Reporting.
Alan Willis, Invited Author's Comment.
CHAPTER 9: Strategies for Managing Environmental Change.
Greenhouse Gas Emission Targets: Rationale, Types, and Methods.
Climate Change Programs.
New Weather-Related Products.
Trading Pollution Reduction Credits.
CHAPTER 10: THE WAY AHEAD.
Business and Environmental Change: What's New?
The New Paradigm.
Environmental Change: From Challenge to Opportunity.
The Environmental Learning Curve: Redefining Success.
UNEP Statement by Financial Institutions on the Environment and Sustainable Development.
List of Signatories to the UNEP Statement by Financial Institutions on the Environment and Sustainable Development.
UNEP Statement of Environmental Commitment by the Insurance Industry.
Status of the UNEP Statement of Environmental Commitment by the Insurance Industry.
The Annex 1 Countries.
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