Cullen, J.P. orcid.org/0000-0003-3149-3816 (2018) After ‘HLEG’: EU banks, climate change abatement and the precautionary principle. Cambridge Yearbook of European Legal Studies, 20. pp. 61-87. ISSN 1528-8870
Abstract
The EU is making progress in reducing its carbon footprint. The creation of a High-Level Group on Sustainable Finance has supplemented recent market-led initiatives and provided some recommendations for future reform. This article argues that more remains to be achieved. In particular, in light of the fundamental structural uncertainties attached to climate change, precautionary approaches to the funding of GHG-intensive industries are worth contemplating. Such measures include raising the capital requirements on assets with ‘brown’ credentials. The high dependence on banks for external financing in the EU makes these reforms particularly appropriate for implementation within the bloc.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2018 Centre for European Legal Studies, Faculty of Law, University of Cambridge. This is an author produced version of a paper subsequently published in Cambridge Yearbook of European Legal Studies. Article available under the terms of the CC-BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0/). |
Keywords: | HLEG; banks; capital; green assets; precautionary principle |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > School of Law (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 06 Jul 2018 14:57 |
Last Modified: | 19 May 2020 14:10 |
Status: | Published |
Publisher: | Cambridge University Press |
Refereed: | Yes |
Identification Number: | 10.1017/cel.2018.7 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:133027 |
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Filename: After HLEG CYELS submission June 2018 SMART VERSION.pdf
Licence: CC-BY-NC-ND 4.0