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Producing the ecological economy: A study in developing fiduciary principles supporting the application of flow-fund consistent investment criteria for sovereign wealth funds

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dc.creatorFarrell K.N.spa
dc.creatorLöw Beer D.spa
dc.date.accessioned2020-05-26T00:06:19Z
dc.date.available2020-05-26T00:06:19Z
dc.date.created2019spa
dc.description.abstractIn the current financial climate, there is an opportunity for surplus capital to incentivize ecological economic production. Markets and financial products created in response to this surplus include investments in the maintenance of biologically viable natural systems and the development of sustainability transformation technologies. In this paper we critically examine their potential for supporting conservation and socio-ecological transformation. Using Nicholas Georgescu-Roegen's flow-fund theory, we take sovereign wealth fund (SWF) investments as a case in point and ask: according to what principles might it be possible to ensure that SWF investments are directed toward producing new economic processes compatible with the transformation to an ecological economy? Employing the flow-fund theory concepts of economic Anschauung and process-funds, we specify a flow-fund fiduciary responsibility associated with ensuring that an economic process is designed so that its final cause, or purpose, can be realized sustainably and sustained over time. We illustrate the generalizability of these fiduciary criteria by applying them to the two very different potential target investments: mangrove forest recuperation and conservation and the roll-out of the electric vehicle transport sector. We conclude with reflections on the general applicability of this approach and recommendations for further research. © 2019 Elsevier B.V.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1016/j.ecolecon.2019.106391
dc.identifier.issn9218009
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/23878
dc.language.isoengspa
dc.publisherElsevier B.V.spa
dc.relation.citationTitleEcological Economics
dc.relation.citationVolumeVol. 165
dc.relation.ispartofEcological Economics, ISSN:9218009, Vol.165,(2019)spa
dc.relation.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85069627918&doi=10.1016%2fj.ecolecon.2019.106391&partnerID=40&md5=6b36c52fa5a3c87a1f33b8123fb65becspa
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto Completo)spa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.keywordEcological economicsspa
dc.subject.keywordElectric vehiclespa
dc.subject.keywordMarket conditionsspa
dc.subject.keywordPolitical economyspa
dc.subject.keywordSustainabilityspa
dc.subject.keywordRhizophoraceaespa
dc.subject.keywordElectric vehiclesspa
dc.subject.keywordFiduciary termsspa
dc.subject.keywordFlow-fund theoryspa
dc.subject.keywordGeorgescu-roegenspa
dc.subject.keywordMangrovesspa
dc.subject.keywordPolitical economyspa
dc.subject.keywordSocial and responsible investmentspa
dc.titleProducing the ecological economy: A study in developing fiduciary principles supporting the application of flow-fund consistent investment criteria for sovereign wealth fundsspa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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