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首页> 外文期刊>Ecological Economics >Producing the ecological economy: A study in developing fiduciary principles supporting the application of flow-fund consistent investment criteria for sovereign wealth funds
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Producing the ecological economy: A study in developing fiduciary principles supporting the application of flow-fund consistent investment criteria for sovereign wealth funds

机译:产生生态经济:研究制定信托原则以支持对主权财富基金应用流动资金一致的投资标准

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In the current financial climate, there is an opportunity for surplus capital to incentivize ecological economic production. Markets and financial products created in response to this surplus include investments in the maintenance of biologically viable natural systems and the development of sustainability transformation technologies. In this paper we critically examine their potential for supporting conservation and socio-ecological transformation. Using Nicholas Georgescu-Roegen's flow-fund theory, we take sovereign wealth fund (SWF) investments as a case in point and ask: according to what principles might it be possible to ensure that SWF investments are directed toward producing new economic processes compatible with the transformation to an ecological economy? Employing the flow-fund theory concepts of economic Anschauung and process-funds, we specify a flow-fund fiduciary responsibility associated with ensuring that an economic process is designed so that its final cause, or purpose, can be realized sustainably and sustained over time. We illustrate the generalizability of these fiduciary criteria by applying them to the two very different potential target investments: mangrove forest recuperation and conservation and the roll-out of the electric vehicle transport sector. We conclude with reflections on the general applicability of this approach and recommendations for further research.
机译:在当前的金融环境下,剩余资本有机会激励生态经济生产。为应对这种盈余而创造的市场和金融产品包括在维护生物上可行的自然系统和开发可持续性转化技术方面的投资。在本文中,我们批判性地研究了它们在支持保护和社会生态转型方面的潜力。运用尼古拉斯·乔治斯库·罗根(Nicholas Georgescu-Roegen)的流动资金理论,我们以主权财富基金(SWF)投资为例,并提出以下问题:根据可能的原则,确保SWF投资旨在产生与经济增长相适应的新经济流程向生态经济转型?我们采用经济Anschauung和流程基金的流量基金理论概念,指定了与确保经济流程的设计相关的流量基金信托责任,以便最终实现其最终原因或目的。我们通过将它们适用于两种截然不同的潜在目标投资来说明这些受托标准的普遍性:红树林的恢复和养护以及电动汽车运输行业的推广。最后,我们对这种方法的普遍适用性进行了思考,并提出了进一步研究的建议。

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