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Eco-Capitalism

Carbon Money, Climate Finance, and Sustainable Development

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  • © 2018
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Overview

Authors:
  1. Robert Guttmann

    1. Economics Department, Hofstra University, Hempstead, USA

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  • Frames the problem of climate change in a new light and identifies the necessary elements of an effective climate mitigation strategy

  • Addresses the challenge of how best to wed a profit-driven capitalist system to societally beneficial goals of sustainability

  • Presents the constitutive elements of an ecologically oriented type of capitalism centered on the Sustainable Development Goals of the United Nation’s 2030 Agenda

  • Encourages the construction of an ecologically oriented type of capitalism, and introduces a new type of money—carbon money—to incentivize the transition to a low-carbon economy

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-v
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  2. The Challenge of Climate Change

    • Robert Guttmann
    Pages 1-33
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  3. Moving Toward an Ecologically Oriented Capitalism (“Eco-Capitalism”)

    • Robert Guttmann
    Pages 35-64
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  4. The Global Emergence of Climate Policy

    • Robert Guttmann
    Pages 65-97
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  5. Rethinking Growth

    • Robert Guttmann
    Pages 99-133
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  6. Pricing Carbon

    • Robert Guttmann
    Pages 135-168
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  7. Climate Finance

    • Robert Guttmann
    Pages 169-208
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  8. Carbon Money

    • Robert Guttmann
    Pages 209-249
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  9. Sustainable Development and Eco-Capitalism

    • Robert Guttmann
    Pages 251-291
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  10. Back Matter

    Pages 293-321
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Keywords

About this book

Our planet faces a systemic threat from climate change, which the world community of nations is ill-prepared to address, and this book argues that a new form of ecologically conscious capitalism is needed in order to tackle this serious and rising threat. While the Paris Climate Agreement of 2015 has finally implemented a global climate policy regime, its modest means belie its ambitious goals. Our institutional financial organizations are not equipped to deal with the problems that any credible commitment to a low-carbon economy will have to confront. We will have to go beyond cap-and-trade schemes and limited carbon taxes to cut greenhouse gas emissions substantially in due time. This book offers a way forward toward that goal, with a conceptual framework that brings environmental preservation back into our macro-economic growth and forecasting models. This framework obliges firms to consider other goals beyond shareholder value maximization, outlining the principal tenets of a climate-friendly finance and introducing a new type of money linked to climate mitigation and adaptation efforts. 

Authors and Affiliations

  • Economics Department, Hofstra University, Hempstead, USA

    Robert Guttmann

About the author

Robert Guttmann is Augustus B. Weller Chair in Economics at Hofstra University, USA, and he is also affiliated with the Centre d’Économie Paris Nord (CEPN) of the Université Paris XIII in France. He studied in Vienna and at the University of Wisconsin-Madison, USA, before obtaining his PhD at the University of Greenwich, UK. He won “Distinguished Teacher of the Year” awards at Hofstra in 1989, 2004, and 2012. Professor Guttmann teaches international economics, monetary economics, financial regulation, and economic integration in the European Union. An expert in money and banking, international finance, and monetary theory, he has published numerous books and journal articles, including his best-selling books How Credit-Money Shapes the Economy, Cybercash, and Finance-Led Capitalism.

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