Does the fossil fuel divestment movement impact new oil and gas fundraising?

Sökning: WFRF:(Ascui F) > Does the fossil fue...

Hoepner, Andreas G. F. (författare): Stockholm School of Economics,Handelshögskolan i Stockholm

(creator_code:org_t)

Oxford University Press (OUP): Policy F, 2021
2021
Engelska.
Ingår i: Journal of Economic Geography. - : Oxford University Press (OUP): Policy F. - 1468-2710 .- 1468-2702. ; 21:1, s. 141-164

Relaterad länk:: https://research.hhs... (primary) (Object in context); visa fler...; https://academic.oup...; https://research.hhs...; https://doi.org/10.1...; visa färre...

Abstract Ämnesord

Stäng

This article explores whether increasing fossil fuel divestment commitments are related to the reduction of capital flows into the oil and gas sector, based on an analysis of syndicated lending, equity and bond underwriting across 33 countries from 2000 to 2015. We find that increasing oil and gas divestment pledges in a country are associated with lower capital flows to domestic oil and gas companies. This effect is enhanced in more stringent environmental policy regimes and diminished in countries which heavily subsidise fossil fuels. However, the divestment movement may have an unintended effect, insofar as domestic banks situated in countries with high divestment commitments and stringent environmental policies provide more finance to oil and gas companies abroad. We explain these findings through the lens of institutional theory and show how both regulatory and socially normative elements of institutions shape this dynamic.

Av författaren/redakt...: Cojoianu, Theodo ...; Ascui, Francisco; Clark, Gordon L; Hoepner, Andreas ...; Wojcik, Dariusz

Om ämnet

Kungliga biblioteket hanterar dina personuppgifter i enlighet med EU:s dataskyddsförordning (2018), GDPR. Läs mer om hur det funkar här.
Så här hanterar KB dina uppgifter vid användning av denna tjänst.