Green banking and greenwashing systematic literature review

Ilmastonmuutos on aikamme merkittävin kriisi, ja sen ratkaiseminen edellyttää kaikkien alojen yhteistä muutosta. Vuonna 2015 allekirjoitettu Pariisin ilmastosopimus oli käännekohta ilmastonmuutoksen hillitsemisessä. Sen tavoitteena on pysäyttää lämpeneminen 1,5 asteeseen. Ilmastosopimus määrittää...

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Main Author: Mustalahti, Taru
Other Authors: Jyväskylä University School of Business and Economics, Jyväskylän yliopiston kauppakorkeakoulu, Taloustieteet, Business and Economics, Jyväskylän yliopisto, University of Jyväskylä
Format: Master's thesis
Language:eng
Published: 2022
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/83663
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author Mustalahti, Taru
author2 Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_facet Mustalahti, Taru Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä Mustalahti, Taru Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_sort Mustalahti, Taru
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description Ilmastonmuutos on aikamme merkittävin kriisi, ja sen ratkaiseminen edellyttää kaikkien alojen yhteistä muutosta. Vuonna 2015 allekirjoitettu Pariisin ilmastosopimus oli käännekohta ilmastonmuutoksen hillitsemisessä. Sen tavoitteena on pysäyttää lämpeneminen 1,5 asteeseen. Ilmastosopimus määrittää pankkien vastuun rahoituksen ohjaamisesta vähähiilisiin hankkeisiin. Pankeilla on sekä ulkoisena motiivina yhteisten tavoitteiden saavuttaminen, että sisäisenä motiivina ilmastoon liittyvien rahoitusriskien hallinta. Tässä pro gradu -tutkielmassa tarkastelen, miten pankit voivat osaltaan ehkäistä ilmaston lämpenemistä ja vaikuttaako mahdollinen viherpesu negatiivisesti talouden vihreään siirtymään. Tutkimuksessa hyödynnetään systemaattista kirjallisuuskatsausta. Tutkimusaineisto on kerätty useista eri tietokannoista, kuten Scopuksesta, ja lopulliseen tutkimusotokseen on sisällytetty 22 artikkelia vuosilta 2010–2022. Keskeiset havainnot ovat teemoitettu ja analysoitu narratiivista synteesimenetelmää hyödyntäen. Tulosten valossa pankkitoiminta voi ehkäistä ilmastonmuutosta säätelemällä rahoitusta. Tutkimuskentällä ei kuitenkaan ole konsensusta siitä, pitäisikö pankkien mandaatteja laajentaa kattamaan ilmastopolitiikkaa. Ratkaisuna ilmastokriisiin esitetään ilmastopolitiikan ja rahoitussääntelyn välineiden käyttämistä yhdessä finanssipolitiikan työkalujen kanssa. Lyhyen aikavälin ratkaisuksi esitetään nykyisten keskuspankkien työkalujen vihertämistä. Pankkitoiminnan viherpesua käsittelevää tutkimusta on tehty vähän. Pankkitoiminnassa esiintyy viherpesua niin suoraan kuin epäsuorasti puuttuvien taksonomian ja tiedonantovaatimusten takia. Pankeilla on haasteita arvioida rahoittamiensa kohteiden vaikutusta ilmastonmuutokseen, sillä päätöksentekoon liittyvä informaatio on asymmetrista. Nykyiset rahoitustoimet ilmastonmuutosta kiihdyttäviin kohteisiin ja epäselvät ilmastositoumukset vaikuttavat kielteisesti talouden vihreään siirtymään. Climate change is the most significant crisis of our time, and solving it requires a joint contribution of all sectors. The Paris Agreement, signed in 2015, aiming to stop warming to the 1.5-degree limit, was a turning point in mitigation. The agreement defined the banks' responsibility for channelling funding to low carbon projects. Banks have both an external motive (achieving a common agenda) and an internal motive (climate-related financial risk management) in considering climate change in their operations. In this master’s thesis, I examine how banks can contribute to preventing global warming and whether possible greenwashing affect the green transition of the economy. The study uses a systematic literature review as a research method, and the research material is collected from several different databases, such as Scopus. The final research sample is 22 articles over the years 2010-2022. The key observations are themed and analysed using the narrative synthesis method. The results yield that banking has the potential to prevent climate change through financial intermediation. However, the literature is currently debating whether banks' mandates should be expanded to cover climate-related policies. Several climate-related policies are proposed to work simultaneously or together with fiscal policies to reduce climate change. “Greening” of current policy measures is presented to work as a short-term solution. The literature on greenwashing in banking is still scarce. Due to the lack of taxonomy and disclosure requirements, greenwashing occurs in banking both directly and indirectly. Banks have challenges in evaluating the environmental performance of the objects they finance because of asymmetry in data. However, current high-carbon financing and ambiguous climate commitments have a negative impact on the green transition of the economy.
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Vuonna 2015 allekirjoitettu Pariisin \nilmastosopimus oli k\u00e4\u00e4nnekohta ilmastonmuutoksen hillitsemisess\u00e4. Sen \ntavoitteena on pys\u00e4ytt\u00e4\u00e4 l\u00e4mpeneminen 1,5 asteeseen. Ilmastosopimus\nm\u00e4\u00e4ritt\u00e4\u00e4 pankkien vastuun rahoituksen ohjaamisesta v\u00e4h\u00e4hiilisiin hankkeisiin. \nPankeilla on sek\u00e4 ulkoisena motiivina yhteisten tavoitteiden saavuttaminen, ett\u00e4\nsis\u00e4isen\u00e4 motiivina ilmastoon liittyvien rahoitusriskien hallinta. T\u00e4ss\u00e4 pro gradu \n-tutkielmassa tarkastelen, miten pankit voivat osaltaan ehk\u00e4ist\u00e4 ilmaston \nl\u00e4mpenemist\u00e4 ja vaikuttaako mahdollinen viherpesu negatiivisesti talouden \nvihre\u00e4\u00e4n siirtym\u00e4\u00e4n.\nTutkimuksessa hy\u00f6dynnet\u00e4\u00e4n systemaattista kirjallisuuskatsausta.\nTutkimusaineisto on ker\u00e4tty useista eri tietokannoista, kuten Scopuksesta, ja \nlopulliseen tutkimusotokseen on sis\u00e4llytetty 22 artikkelia vuosilta 2010\u20132022. \nKeskeiset havainnot ovat teemoitettu ja analysoitu narratiivista\nsynteesimenetelm\u00e4\u00e4 hy\u00f6dynt\u00e4en.\nTulosten valossa pankkitoiminta voi ehk\u00e4ist\u00e4 ilmastonmuutosta s\u00e4\u00e4telem\u00e4ll\u00e4 \nrahoitusta. Tutkimuskent\u00e4ll\u00e4 ei kuitenkaan ole konsensusta siit\u00e4, pit\u00e4isik\u00f6 \npankkien mandaatteja laajentaa kattamaan ilmastopolitiikkaa. Ratkaisuna \nilmastokriisiin esitet\u00e4\u00e4n ilmastopolitiikan ja rahoituss\u00e4\u00e4ntelyn v\u00e4lineiden\nk\u00e4ytt\u00e4mist\u00e4 yhdess\u00e4 finanssipolitiikan ty\u00f6kalujen kanssa. Lyhyen aikav\u00e4lin \nratkaisuksi esitet\u00e4\u00e4n nykyisten keskuspankkien ty\u00f6kalujen vihert\u00e4mist\u00e4.\nPankkitoiminnan viherpesua k\u00e4sittelev\u00e4\u00e4 tutkimusta on tehty v\u00e4h\u00e4n.\nPankkitoiminnassa esiintyy viherpesua niin suoraan kuin ep\u00e4suorasti \npuuttuvien taksonomian ja tiedonantovaatimusten takia. Pankeilla on haasteita \narvioida rahoittamiensa kohteiden vaikutusta ilmastonmuutokseen, sill\u00e4 \np\u00e4\u00e4t\u00f6ksentekoon liittyv\u00e4 informaatio on asymmetrista. 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spellingShingle Mustalahti, Taru Green banking and greenwashing : systematic literature review green banking greenwash systematic literature review global warming Taloustiede Economics 2041 keskuspankit ilmastonmuutokset pankit vihreä talous central banks climate changes banks (monetary institutions) green economy
title Green banking and greenwashing : systematic literature review
title_full Green banking and greenwashing : systematic literature review
title_fullStr Green banking and greenwashing : systematic literature review Green banking and greenwashing : systematic literature review
title_full_unstemmed Green banking and greenwashing : systematic literature review Green banking and greenwashing : systematic literature review
title_short Green banking and greenwashing
title_sort green banking and greenwashing systematic literature review
title_sub systematic literature review
title_txtP Green banking and greenwashing : systematic literature review
topic green banking greenwash systematic literature review global warming Taloustiede Economics 2041 keskuspankit ilmastonmuutokset pankit vihreä talous central banks climate changes banks (monetary institutions) green economy
topic_facet 2041 Economics Taloustiede banks (monetary institutions) central banks climate changes global warming green banking green economy greenwash ilmastonmuutokset keskuspankit pankit systematic literature review vihreä talous
url https://jyx.jyu.fi/handle/123456789/83663 http://www.urn.fi/URN:NBN:fi:jyu-202210254973
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