Regulatory Oversight of Climate Governance of Companies and Institutional Investors

2020 ◽  
pp. 145-198
Author(s):  
Janis Sarra
Keyword(s):  
Financial Services ◽  
Policy Making ◽  
Indigenous Communities ◽  
Low Carbon ◽  
The European Union ◽  
Regulatory Oversight ◽  
Net Zero ◽  
Zero Carbon ◽  
Women's Role

Chapter 6 examines a number of regulatory challenges for climate change, particularly in terms of international regulatory oversight. It offers positive models from the European Union and explores why fairness and equity should inform regulatory choices. It discusses the emerging use of ‘green taxonomies’ as a tool to assure investors about where their capital is being directed and to encourage sustainable investing. The chapter engages in a discussion about carbon pricing as a regulatory tool, including low carbon benchmarks, carbon budgets, and statutory requirements for net zero carbon emissions. It explores the potential governance role of debt in the transition to net zero carbon and what the appropriate oversight role is for financial services supervisors. The chapter canvasses capacity building for women’s role in policy-making and examines the critically important issue of meaningful partnership with Indigenous communities.

scholarly journals Thermal system-specific and net-zero carbon least-cost design of new houses in Canadian cold climates

2021 ◽  
Author(s):  
Brandon Wilbur
Keyword(s):  
Life Cycle ◽  
Heat Pump ◽  
Life Cycle Cost ◽  
Ghg Emissions ◽  
Building Design ◽  
Heating System ◽  
Carbon Intensity ◽  
Low Carbon ◽  
Net Zero ◽  
Zero Carbon

Whole-building model optimizations have been performed for a single-detached house in 5 locations with varying climates, electricity emissions factors, and energy costs. The multi-objective optimizations determine the life-cycle cost vs. operational greenhouse gas emissions Pareto front to discover the 30-year life-cycle least-cost building design heated 1) with natural gas, and 2) electrically using a) central air-source heat pump, b) ductless mini-split heat pump c)ground-source heat pump, and d) electric baseboard, accounting for both initial and operational energy-related costs. A net-zero carbon design with grid-tied photovoltaics is also optimized. Results indicate that heating system type influences the optimal enclosure design, and that neither building total energy use, nor space heating demand correspond to GHG emissions across heating system types. In each location, at least one type of all-electric design has a lower life-cycle cost than the optimized gas-heated model, and such designs can mitigate the majority of operational GHG emissions from new housing in locations with a low carbon intensity electricity supply.

Part II UK Securities Markets, 4 Recognized Investment Exchanges (RIEs) and Recognized Clearing Houses (RCHs)

2021 ◽  
Author(s):  
Penn Bob ◽  
Forzani Alex ◽  
Allen & Overy LLP
Keyword(s):  
European Union ◽  
Financial Services ◽  
Securities Markets ◽  
Financial Instruments ◽  
The European Union ◽  
Financial Contracts ◽  
The Uk ◽  
Final Settlement ◽  
Market Infrastructure

This chapter summarizes and discusses the UK regulatory framework for recognized investment exchanges (RIEs) and recognized clearing houses (RCHs) under the Financial Services and Markets Act 2000 (FSMA). It considers the framework in light of the current and forthcoming European legislation. It also examines the applicability of the framework to RIEs and RCHs in the context of the recast Markets in Financial Instruments Directive II (MiFID II), European Market Infrastructure Regulation (EMIR) and the UK's departure from the European Union (Brexit). This chapter outlines the central role of exchanges and clearing houses in the operation of financial markets. It explains that the exchanges offer marketplaces for the trading of financial instruments, provide market data which facilitates trading, and establish standards for the offering of securities, while clearing houses manage the performance of financial contracts between the point of execution and final settlement and mitigating the risk and consequences of default.

Promoting Indigenous Financial Inclusion

2018 ◽  
Vol 9 (2) ◽  
pp. 1-11
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Potential Role ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

Promoting Indigenous Financial Inclusion

2020 ◽  
pp. 348-360
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Australian Society ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

scholarly journals The Implementation of the REACH Authorisation Procedure on Chemical Substances of Concern: What Kind of Legitimacy?

2015 ◽  
Vol 3 (1) ◽  
pp. 128-138 ◽  
Author(s):  
Christoph Klika
Keyword(s):  
Decision Making ◽  
European Union ◽  
Policy Making ◽  
The European Union ◽  
Chemical Substances ◽  
High Concern ◽  
Decision Making Processes ◽  
Reach Regulation ◽  
Very High

With the increasing “agencification” of policy making in the European Union (EU), normative questions regarding the legitimacy of EU agencies have become ever more important. This article analyses the role of expertise and legitimacy with regard to the European Chemicals Agency ECHA. Based on the REACH regulation, so-called Substances of Very High Concern (SVHCs) are subject to authorisation. The authorisation procedure aims to ensure the good functioning of the internal market, while assuring that risks of SVHCs are properly controlled. Since ECHA has become operational in 2008, recurring decisions on SVHCs have been made. The question posed in this article is: to what extent can decision making in the REACH authorisation procedure be assessed as legitimate? By drawing on the notion of throughput legitimacy, this article argues that decision making processes in the authorisation procedure are characterized by insufficient legitimacy.

scholarly journals Thermal system-specific and net-zero carbon least-cost design of new houses in Canadian cold climates

2021 ◽  
Author(s):  
Brandon Wilbur
Keyword(s):  
Life Cycle ◽  
Heat Pump ◽  
Life Cycle Cost ◽  
Ghg Emissions ◽  
Building Design ◽  
Heating System ◽  
Carbon Intensity ◽  
Low Carbon ◽  
Net Zero ◽  
Zero Carbon

Whole-building model optimizations have been performed for a single-detached house in 5 locations with varying climates, electricity emissions factors, and energy costs. The multi-objective optimizations determine the life-cycle cost vs. operational greenhouse gas emissions Pareto front to discover the 30-year life-cycle least-cost building design heated 1) with natural gas, and 2) electrically using a) central air-source heat pump, b) ductless mini-split heat pump c)ground-source heat pump, and d) electric baseboard, accounting for both initial and operational energy-related costs. A net-zero carbon design with grid-tied photovoltaics is also optimized. Results indicate that heating system type influences the optimal enclosure design, and that neither building total energy use, nor space heating demand correspond to GHG emissions across heating system types. In each location, at least one type of all-electric design has a lower life-cycle cost than the optimized gas-heated model, and such designs can mitigate the majority of operational GHG emissions from new housing in locations with a low carbon intensity electricity supply.

scholarly journals THE NEW EUROPEAN UNION FINANCIAL MARKET ECOSYSTEM: DIGITALIZATION AND SUSTAINABILITY

2020 ◽  
Vol 24 (3) ◽  
pp. 673-694
Author(s):  
Evgenia E. Frolova
Keyword(s):  
European Union ◽  
Financial Market ◽  
Financial Services ◽  
Information Disclosure ◽  
Legal Regulation ◽  
Low Carbon ◽  
The European Union ◽  
Dialectical Logic ◽  
Scientific Methods ◽  
Sustainable Financing

The article is devoted to the analysis of a new concept - the ecosystem of the financial market of the European Union. It is proved that the new ecosystem of the financial market of the European Union, aimed at the priorities of "sustainable financing" has developed and become the objective reality of new public relations. In this regard, a comparative analysis of the above issues is of particular importance. The study showed that the European Union in December 2019 presented its vision of regulating a new ecosystem of the financial market: the cornerstones of this regulation were identified - the regulation on information disclosure, the regulation of low-carbon standards, the draft regulation on taxonomy. Given the fact that the above normative acts apply not only to participants in the EU financial market, but also to third countries, Russia needs to determine its position on this issue. A lag in the legal regulation of these issues can lead to serious losses for Russian legal entities offering financial services. The purpose of the study is to form an understanding of the principles of legal regulation of sustainable financing in the European Union based on an analysis of regulatory acts and scientific sources. The article uses General scientific methods of cognition: empirical methods of comparison, description, interpretation; theoretical methods of formal and dialectical logic. Private scientific methods were used: legal-dogmatic and the method of interpretation of legal norms.

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