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dc.contributor.authorGalaz, Victor
dc.contributor.authorCrona, Beatrice
dc.contributor.authorDauriach, Alice
dc.contributor.authorScholtens, Bert
dc.contributor.authorSteffen, Will
dc.date.accessioned2019-11-02T00:36:38Z
dc.date.available2019-11-02T00:36:38Z
dc.date.issued2018-11-02
dc.identifier.citationGalaz , V , Crona , B , Dauriach , A , Scholtens , B & Steffen , W 2018 , ' Finance and the Earth system – exploring the links between financial actors and non-linear changes in the climate system ' , Global Environmental Change , vol. 53 , pp. 296-302 . https://doi.org/10.1016/j.gloenvcha.2018.09.008en
dc.identifier.issn0959-3780
dc.identifier.otherPURE: 256460463
dc.identifier.otherPURE UUID: d36eee6d-07db-4a0f-9a85-e6203922fa39
dc.identifier.otherRIS: urn:307597F2D8060B1FFC691A140B5B6121
dc.identifier.otherScopus: 85055903559
dc.identifier.otherWOS: 000455061900027
dc.identifier.otherORCID: /0000-0001-5774-5191/work/69835024
dc.identifier.urihttp://hdl.handle.net/10023/18830
dc.descriptionThe authors acknowledge the support from the Erling-Persson Family Foundation through the Global Economic Dynamics and the Biosphere programme (GEDB) at the Royal Swedish Academy of Sciences, the Futura Foundation, Vinnova (Earth System Finance), Mistra Financial Systems (MFS), and the Foundation for Strategic Environmental Research (Mistra) through the Stockholm Resilience Centre (Stockholm University).en
dc.description.abstractFinancial actors and capital play a key role in extractive economic activities around the world, as well as in current efforts to avoid dangerous climate change. Here, in contrast to standard approaches in finance, sustainability and climate change, we elaborate in what ways financial actors affect key biomes around the world, and through this known “tipping elements” in the Earth system. We combine Earth system and sustainability sciences with corporate finance to develop a methodology that allows us to link financial actors to economic activities modifying biomes of key importance for stabilizing Earth’s climate system. Our analysis of key owners of companies operating in the Amazon rainforest (Brazil) and boreal forests (Russia and Canada) identifies a small set of international financial actors with considerable, but as of yet unrealized, globally spanning influence. We denote these “Financial Giants”, and elaborate how incentives and disincentives currently influence their potential to bolster or undermine the stability of the Earth’s climate system.
dc.format.extent7
dc.language.isoeng
dc.relation.ispartofGlobal Environmental Changeen
dc.rightsCopyright © 2018, Elsevier Ltd. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version is available at https://doi.org/10.1016/j.gloenvcha.2018.09.008en
dc.subjectClimate changeen
dc.subjectTipping elementsen
dc.subjectFinancial systemsen
dc.subjectTelecouplingen
dc.subjectSustainable financeen
dc.subjectDeforestationen
dc.subjectHB Economic Theoryen
dc.subjectHD Industries. Land use. Laboren
dc.subject3rd-DASen
dc.subject.lccHBen
dc.subject.lccHDen
dc.titleFinance and the Earth system – exploring the links between financial actors and non-linear changes in the climate systemen
dc.typeJournal articleen
dc.description.versionPostprinten
dc.contributor.institutionUniversity of St Andrews.Centre for Responsible Banking and Financeen
dc.contributor.institutionUniversity of St Andrews.School of Managementen
dc.identifier.doihttps://doi.org/10.1016/j.gloenvcha.2018.09.008
dc.description.statusPeer revieweden
dc.date.embargoedUntil2019-11-02


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