Hadfield-Hill, S. (2007) The greening of project finance. Geography Compass. 1(5), pp. 1058-1075. 1749-8198.
| Item Type: | Article |
|---|---|
| Abstract: | Over the past decade, financial institutions have become increasingly conscious of the environmental and social implications of their lending decisions. This is due to widespread environmental and social awareness within mainstream society and the rise of sophisticated nongovernmental organisations. Geography provides an insight into a range of issues related to project finance, particularly with regard to human-environmental relationships, spatial differentiation and modes of governance. The ‘Equator Principles’ are examined focusing on the contribution that ‘Equator banks’ can make to sustainability. With a critical mass of financial institutions now theoretically in compliance with the latest revisions of the guidelines, ‘Equator Principles II,’ environmental decisions can now be made in relation to a common baseline. When conforming to the Principles, banks in theory can make responsible decisions with regard to the environment and society in regions where development projects are under consideration. However, it is essential that financial institutions and civil society collaborate and trust each other in order for both parties to achieve the desired outcomes of responsible lending and sustainable development. It is imperative that geographers expand their understanding of the project finance industry so as to identify the changes occurring within the lending sector and the consequential environmental and social impact |
| Subjects: |
H Social Sciences > HD Industries. Land use. Labor > HD60 Social responsibility of business H Social Sciences > HG Finance > HG1501 Banking > HG1641 Bank loans. Bank credit. Commercial loans H Social Sciences > HD Industries. Land use. Labor > HD72 Economic growth, development, planning > HD75.6 Environmental economics. Sustainable development |
| Creators: | Hadfield-Hill, Sophie |
| Publisher: | Wiley Blackwell |
| Faculties, Divisions and Institutes: |
University Faculties, Divisions and Research Centres - OLD > Research Centre > The Centre for Children and Youth University Faculties, Divisions and Research Centres - OLD > School of Social Sciences (to 2016) Research Centres > Centre for Psychology and Social Sciences |
| Date: | September 2007 |
| Date Type: | Publication |
| Page Range: | pp. 1058-1075 |
| Journal or Publication Title: | Geography Compass |
| Volume: | 1 |
| Number: | 5 |
| Language: | English |
| DOI: | https://doi.org/10.1111/j.1749-8198.2007.00050.x |
| ISSN: | 1749-8198 |
| Status: | Published / Disseminated |
| Refereed: | Yes |
| URI: | http://nectar.northampton.ac.uk/id/eprint/4845 |
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