Green bond market practices

Exploring the Moral 'Balance' of Environmental and Financial Values

Bibliographic Data

ID2181963
AuthorsSarah Bracking (0000-0003-0346-0275, King's College London, corresponding author)
Year2024
Volume17
Issue3
Pages279-296
Publication date2024-05-03
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of Cultural Economy (JOURNAL)
Journal identifiersISSN: 1753-0350 • E-ISSN: 1753-0369
PublisherInforma UK Limited (PUBLISHER • GB)
DOI10.1080/17530350.2024.2312864
OpenAlexW4391982886
LanguageEN
Citations received6
References cited66

This paper explores why and how green bond investors apply environmental and financial morality. It analyses the coproduction of environmental and financial values in green bond markets using digital ethnography, industry literature and interviews with investors during 2019–2022. It analyses how green bond investors explain and narrate their diverse market practices in the balancing of financial and ethical returns, converging in an unstable space of mutual coproduction. The calculative practices and signalling of green virtue are performed in little machines of ethical inscription but are rarely either empirically validated or explicitly discussed. The green bond universe might appear stable, but its foundations are forged in long-standing intersectional assumptions, as it relies on, and reproduces, the historical structures of racial capitalism. The market practices described here are designed to help green bonds become a mainstream asset class. However, these are reproducing older discursive tropes and growth is elusive

Bond · Bond market · Economics · Financial market · Mainstream · Morality · Political science · Sociology · Climate Change Policy and Economics · Energy, Environment, Economic Growth · Law · Sustainable Finance and Green Bonds · Finance

Tools

Open DOIOpen Access