The climatization of state-owned investment banks? How institutional logics shape green finance

Key theme seminar - THE transformation of capitalism

Sciences Po, 1 place Saint-Thomas d'Aquin, 75007 Paris & via Zoom*

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As financing a low-carbon transition has become a critical political objective in contemporary capitalism, state-owned investment banks have received increasing attention across levels of government. From the World Bank to subnational promotional banks, climate action has become a focal point for strategic reviews and public pressure. However, there is very little debate over the institutional capacities and constraints shaping state-owned investment banks’ implementation of ‘green finance’. Considering the hybridity of these banks – being both extended public bureaucracies and financial institutions – this research explores potentially competing orders of accumulation, allocation and legitimacy in the process of climatization. Empirically, the talk offers preliminary insights into the climate bank agenda of the European Investment Bank and into climate action within the German multi-level system of promotional banking. Thereby it seeks to contribute to emerging debates on investment state capacities and the political economy of greening the financial system.

Speaker

Daniel Mertens, Osnabrück University

Chair

Matthias Thiemann, Sciences Po, CEE

Compulsory Registration

**The link will be sent after your registration