Whose risk counts? Climate risk frames in global green finance governance complex
Bibliographic Data
| ID | 13129136 |
|---|---|
| Authors | Hyeyoon Park (0000-0002-7042-7734, University of Stirling), Jakob Skovgaard (0000-0002-8814-2534, Lund University, corresponding author) |
| Year | 2025 |
| Volume | 26 |
| Pages | 100288-100288 |
| Publication date | 2025-09-12 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Earth System Governance (JOURNAL) |
| Journal identifiers | ISSN: 2589-8116 • E-ISSN: 2589-8116 |
| Publisher | Elsevier BV (PUBLISHER) |
| DOI | 10.1016/j.esg.2025.100288 |
| OpenAlex | W7081913457 |
| Language | EN |
| References cited | 44 |
In recent decades, global green finance governance institutions (GGFGIs) have developed diverse frames for understanding climate-related risks. Understanding these risk frames is crucial because they lead to distinctive “de-risking” policies, empowering different types of actors. This paper examines how GGFGIs produce different climate risk frames, and what the prevailing climate risk frame is and whose risk it addresses. We investigate these questions by analyzing the current global green finance governance complex applying a constructivist approach emphasizing contestation over normative issues and a Critical Political Economy perspective. Our mapping based on 74 GGFGIs shows exercise that a risk framing focusing on climate impact on business actors became prevalent over other types of climate risks imposed on people and nature. Our finding shows the dominant influence of the Task Force on the Climate-Related Financial Disclosure created by G20's Financial Stability Board. This development reflects broader trends of climate capitalism. • Global Green Finance Governance Institutions (GGFGIs) predominantly frame climate change as risks to business. • This risk framing prevailed as GGFGIs adopted the Task Force on Climate-Related Financial Disclosures’ recommendations. • However, some GGFGIs—such as those under UNEP—reinterpret the risk frame by emphasizing climate risks to people and nature. • The overall evolution of the global green finance governance architecture reflects broader trends of climate capitalism. • This dominant framing, protecting business over people or nature, may hinder just and transformative pathways
Climate change · Climate Finance · Climate governance · Climate risk · Corporate governance · Framing (construction · Political economy of climate change · Risk Governance · Electrical and Electromagnetic Research · Geochemistry and Geologic Mapping · Geological Modeling and Analysis
Orchestration and transnational climate governance
International regulation without international government
The Importance of Climate Risks for Institutional Investors
The promise and perils of theorizing international regime complexity in an evolving world
Crisis Capitalism and Climate Finance
Beyond institutionalism
Institutional interplay in global environmental governance
The Fragmentation of Global Governance Architectures
Massive Institutional Structures in Global Governance
Introduction
Accounting for whom? The financialisation of the environmental economic transition
Trasformismo or transformation? The global political economy of energy transitions
Carrots with(out) sticks
It takes two to dance
Economisation as boundary work
The United Nations Framework Convention on Climate Change Secretariat as an orchestrator in global climate policymaking
Governing climate change
The Content Analysis of Media Frames
Private authority and public policy interactions in global context
The Rise of Investor‐Driven Climate Governance
The Regime Complex for Climate Change
Hierarchy in Regime Complexes
Let's Justify! How Regime Complexes Enhance the Normative Legitimacy of Global Governance
Organizational Ecology and Institutional Change in Global Governance
Regime Complexes
Linkages, contests and overlaps in the global intellectual property rights regime
The Regime Complex for Plant Genetic Resources
Discursive Institutionalism
Stretching scales? Risk and sociality in climate finance
The democratic legitimacy of orchestration
Beyond market neutrality? Central banks and the problem of climate change
The Evolution of Social Constructivism in Political Science
With Constructivist Grounded Theory You Can't Hide
The Power of Constructivist Grounded Theory for Critical Inquiry
| Citation velocity | historical |
|---|---|
| Highly cited | No |