How to re-conceptualise and re-integrate climate finance into society through ecological accounting ?
Rambaud, Alexandre; Chenet, Hugues (2020-10), How to re-conceptualise and re-integrate climate finance into society through ecological accounting ?. https://basepub.dauphine.psl.eu/handle/123456789/23017
TypeDocument de travail / Working paper
Université Paris Dauphine - PSL
Series titleChaire Comptabilité écologique
MetadataShow full item record
Dauphine Recherches en Management [DRM]
Centre International de Recherche sur l'Environnement et le Développement [CIRED]
University College London [UCL]
Abstract (EN)In this paper, we argue that current finance, and the prevailing fair value accounting system, is disconnected from companies and from strong sustainability requirements, making it difficult to develop a climate finance system that is operational and aligned with the challenges of climate preservation. Based on this observation, we propose an exploratory and theoretical study which introduces how and why a particular and innovative ecological accounting approach, the CARE model, currently called upon by a growing number of practitioners and researchers, is a relevant framework to re-conceptualise the issue of climate finance. From a theoretical point of view, CARE offers a suitable language for structuring the issues of ecological costs, debts and conservation and associated financing. From a practical point of view, it offers a methodological support that can be used to address these issues, from an accounting and management point of view as well as from an investor’s point of view, ensuring compliance with the Paris Agreements 2°C goal in particular.
Subjects / Keywordsecological accounting; corporate finance; historical cost accounting; natural capital; climate finance
JELQ56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
G3 - Corporate Finance and Governance
Q57 - Ecological Economics: Ecosystem Services; Biodiversity Conservation; Bioeconomics; Industrial Ecology
M4 - Accounting and Auditing
Q54 - Climate; Natural Disasters and Their Management; Global Warming
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