Financial Innovation in Sustainable Cities: A Suggestion for the EU and China?

China-EU ◽  
2014 ◽  
pp. 165-171
Author(s):  
Laurent Beduneau-Wang
Author(s):  
Emilios Avgouleas

This chapter offers a critical overview of the issues that the European Union 27 (EU-27) will face in the context of making proper use of financial innovation to further market integration and risk sharing in the internal financial market, both key objectives of the drive to build a Capital Markets Union. Among these is the paradigm shift signalled by a technological revolution in the realm of finance and payments, which combines advanced data analytics and cloud computing (so-called FinTech). The chapter begins with a critical analysis of financial innovation and FinTech. It then traces the EU market integration efforts and explains the restrictive path of recent developments. It considers FinTech's potential to aid EU market integration and debates the merits of regulation dealing with financial innovation in the context of building a capital markets union in EU-27.


2010 ◽  
Vol 7 (1) ◽  
pp. 1-23 ◽  
Author(s):  
◽  
L. van Middelkoop

AbstractAn important European environmental policy aim is to create “sustainable cities”. The aim of this article is to explore the possible tensions between environmental measures and urban spatial planning law that can arise in creating such sustainable cities and examine opportunities for integrated sustainable urban planning. The policy document discussed in this article is the European Thematic Strategy on Urban Development of 2006. This Strategy promotes an integrated approach as the tool to achieve sustainable urban development, with the implementation of existing EU environmental legislation as its outer boundary. However, no specific EU legislation has been adopted or is foreseen thereon. The EU merely intends to offer support and guidance to the Member States. But will such a policy suffice to reach the aim? Are not clearer (legislative) parameters needed? Within the EU several “best practices” to the integrated approach are being developed by the Member States. This article highlights the Dutch approach to integrated urban development that could be seen as such a best practice. Particularly relevant in urban (re)development projects are the Dutch 'Interim Act City and Environment approach', the legal Framework for Air Quality in the Dutch Environmental Management Act and the 'Crisis and Recovery Act'. These instruments show chances for integrated urban (re)development. But some points of attention remain even in the Dutch approach, such as the guarantee that the ecological aspect of sustainability must not come off worse. Is EU legislation needed to address these points of attention or will national (or local) action do?


2006 ◽  
pp. 5-14
Author(s):  
Imre Baják

The four European Conferences on Sustainable Cities and Towns gave birth to documents that are important from the point of view of local sustainability. These are, in chronological order, the Aalborg Charter – 1994 Aalborg, the Lisbon Action Plan – 1996 Lisbon, the Hannover Call – 2000 Hannover, and the Aalborg Commitments – 2004 Aalborg. Throughout the process, the emphasis gradually moved from planning to the implementation of plans.Today, there are more than 2000 signatories of the Aalborg1A tanulmány az OTKA T-046704 sz. pályázatának támogatásával készült.Charter. The cutting edge of the process are Italy and Spain, the municipalities of these two countries add up to 80 per cent of all signatories. In both countries, the national commitment is given, but there is not a body that could coordinate the activities related to sustainability, so local governments play the major role in it. The constitutions of these two countries also pass on some duties that are relevant from the point of view of sustainability within the competence of local governments, and allow resources to implement them. In the case of the United Kingdom, the commitment of the national government, and especially the Prime Minister, is the major factor in the movement towards local sustainability.The former socialist countries in Europe, as well as Hungary are relatively underdeveloped economically, so the social and environmental pillars of sustainable development are pushed into the background behind the economical pillar. As a result of the lack of national commitment, there is no guidance and there are no case studies available, so only a small part of local governments are informed of this important international movement, and so are committed to it. The lack of resources is also a problem. The consequence of all this is that there are 35 municipalities from the Eastern European countries that joined the EU in 2004, and only four from Hungary – to mention by name Aba, Kecskemét, Monor and Nagykanizsa – that signed the Aalborg Charter.


2013 ◽  
Author(s):  
Rinus van Schendelen
Keyword(s):  

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