Financialisation of the environment: A literature review
Författare
Summary, in English
This paper provides a review of research into financialisation of the environment, focusing on the role of financialisation in the interface between social and natural dimensions of sustainability, the geographical penetration of finance into environmental sectors, and its increasing control over the production of nature and environmental governance through regulating flows of capital and consequently material flows. Financialisation is conceptualised as a profoundly spatial process, forging financial ecologies with consequences crucial to conditions for sustainability of social-ecological systems. The paper introduces the theme by framing financialisation in historical contexts. Financialisation of the environment is then related to processes of commodification, privatisation, neoliberalisation and accumulation by dispossession within the broader context of intersections between political economy and political ecology, highlighting the distinction between use-value/object-oriented investments and exchange-value/’investor’- oriented investments, the right to inhabit place, and the shift from control and command to economic incentives, drawing out implications for sustainability. Research on financialisation of agriculture and land resources, and on financialisation in relation to economic and social dimensions, is reviewed, and current moves towards re-regulation are considered from the perspective of a Polanyian countermovement. Conclusions reconsider the nature of the relationship between financialisation and sustainability and the challenges of bringing financial systems into the service of achieving social and natural sustainability.
Publiceringsår
2013
Språk
Engelska
Publikation/Tidskrift/Serie
FESSUD Papers
Fulltext
- Available as PDF - 972 kB
- Download statistics
Dokumenttyp
Rapport
Förlag
FESSUD
Ämne
- Human Geography
- Social Sciences
Nyckelord
- financialisation
- sustainability
- commodification
- political ecology
- land
Status
Published
Report number
17
ISBN/ISSN/Övrigt
- ISSN: 2052-8035