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Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime / MATTHEW KELLY

Swansea University Author: MATTHEW KELLY

  • E-Thesis – open access under embargo until: 10th September 2029

DOI (Published version): 10.23889/SUThesis.68174

Abstract

This thesis sets out to explore some of the key dimensions in the institutionalisation of the UK’s De-risking climate finance regime- a regime that seeks to embed the consideration of climate risk in financial markets, and as such, enable the marketization of UK and international climate finance. Th...

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Published: Swansea University, Wales, UK 2024
Institution: Swansea University
Degree level: Doctoral
Degree name: Ph.D
Supervisor: Muellerleile, C., and Clarke, D.
URI: https://cronfa.swan.ac.uk/Record/cronfa68174
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The institutionalisation of this regime is not driven solely by climate-related financial policy, but also by wider climate policy and related concerns such as UK industrial strategy and devolved climategovernance. As such some of the drivers that have greatest relevance to the institutionalisation of the UK De-risking regime are the outcomes of broader political organisation, economic structure and performance. From the diverse dimensions of institutionalisation one underlying question emerges: can the incorporation of climate risks in investment decision-making provide anadequate incentive to drive the scale and pace of investment required to deliver Net Zero in the UK and internationally? This thesis is structured over five chapters. Chapter one synthesizes a review of literature, examining the history and outlining a conceptual framework for the UK De-risking regime. Chapter two outlines the methodology for the thesis, and the Geographic Political Economy approach. Chapter three is the first of three empirical chapters and outlines an institutional systems map of UK Climate Finance. This provides key context for subsequentchapters and illustrates the scope and complexity of the task set by the UK De-risking regime to embed the consideration of climate risk in financial markets. Chapter four explores how Geo-FinTech can integrate climate-related financial disclosures to identify and measure climate related financial risk, its capabilities, institutionalisation, limitations and implications for the De-risking regime and UK industrial strategy. Chapter five explores how devolved climate governance in Wales drives or inhibits the institutionalisation of the UK De-risking regime and implications for path dependencies of Climate Finance in Wales. Chapter six outlines the conclusions of this research anddraws out its implications for UK climate related financial policy as well as mapping out some areas for further research. 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spelling v2 68174 2024-11-05 Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime dd4496d5ea8f258c5c51352077c2eec7 MATTHEW KELLY MATTHEW KELLY true false 2024-11-05 This thesis sets out to explore some of the key dimensions in the institutionalisation of the UK’s De-risking climate finance regime- a regime that seeks to embed the consideration of climate risk in financial markets, and as such, enable the marketization of UK and international climate finance. The institutionalisation of this regime is not driven solely by climate-related financial policy, but also by wider climate policy and related concerns such as UK industrial strategy and devolved climategovernance. As such some of the drivers that have greatest relevance to the institutionalisation of the UK De-risking regime are the outcomes of broader political organisation, economic structure and performance. From the diverse dimensions of institutionalisation one underlying question emerges: can the incorporation of climate risks in investment decision-making provide anadequate incentive to drive the scale and pace of investment required to deliver Net Zero in the UK and internationally? This thesis is structured over five chapters. Chapter one synthesizes a review of literature, examining the history and outlining a conceptual framework for the UK De-risking regime. Chapter two outlines the methodology for the thesis, and the Geographic Political Economy approach. Chapter three is the first of three empirical chapters and outlines an institutional systems map of UK Climate Finance. This provides key context for subsequentchapters and illustrates the scope and complexity of the task set by the UK De-risking regime to embed the consideration of climate risk in financial markets. Chapter four explores how Geo-FinTech can integrate climate-related financial disclosures to identify and measure climate related financial risk, its capabilities, institutionalisation, limitations and implications for the De-risking regime and UK industrial strategy. Chapter five explores how devolved climate governance in Wales drives or inhibits the institutionalisation of the UK De-risking regime and implications for path dependencies of Climate Finance in Wales. Chapter six outlines the conclusions of this research anddraws out its implications for UK climate related financial policy as well as mapping out some areas for further research. In particular, I outline the need to consider more direct forms of structured public investment, that enable devolved governance to deliver the scale and pace of investment required for UK Net Zero. E-Thesis Swansea University, Wales, UK Economic Geography, Climate Finance, Net Zero, FinTech, Devolution 10 9 2024 2024-09-10 10.23889/SUThesis.68174 A selection of content is redacted or is partially redacted from this thesis to protect sensitive and personal information. COLLEGE NANME COLLEGE CODE Swansea University Muellerleile, C., and Clarke, D. Doctoral Ph.D ESRC doctoral training grant, Ordnance Survey ESRC doctoral training grant, Ordnance Survey 2024-11-05T12:56:16.4272447 2024-11-05T12:24:11.7133266 Faculty of Science and Engineering School of Biosciences, Geography and Physics - Geography MATTHEW KELLY 1 Under embargo Under embargo 2024-11-05T12:32:03.2873729 Output 2402632 application/pdf E-Thesis – open access true 2029-09-10T00:00:00.0000000 Copyright: The Author, Matthew Gough Kelly, 2023 Distributed under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0). true eng https://creativecommons.org/licenses/by-nc-sa/4.0/
title Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
spellingShingle Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
MATTHEW KELLY
title_short Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
title_full Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
title_fullStr Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
title_full_unstemmed Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
title_sort Risking Net Zero; Perspectives from Geographic Political Economy on the UK’s ‘De-risking’ Climate Finance regime
author_id_str_mv dd4496d5ea8f258c5c51352077c2eec7
author_id_fullname_str_mv dd4496d5ea8f258c5c51352077c2eec7_***_MATTHEW KELLY
author MATTHEW KELLY
author2 MATTHEW KELLY
format E-Thesis
publishDate 2024
institution Swansea University
doi_str_mv 10.23889/SUThesis.68174
college_str Faculty of Science and Engineering
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hierarchy_top_id facultyofscienceandengineering
hierarchy_top_title Faculty of Science and Engineering
hierarchy_parent_id facultyofscienceandengineering
hierarchy_parent_title Faculty of Science and Engineering
department_str School of Biosciences, Geography and Physics - Geography{{{_:::_}}}Faculty of Science and Engineering{{{_:::_}}}School of Biosciences, Geography and Physics - Geography
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description This thesis sets out to explore some of the key dimensions in the institutionalisation of the UK’s De-risking climate finance regime- a regime that seeks to embed the consideration of climate risk in financial markets, and as such, enable the marketization of UK and international climate finance. The institutionalisation of this regime is not driven solely by climate-related financial policy, but also by wider climate policy and related concerns such as UK industrial strategy and devolved climategovernance. As such some of the drivers that have greatest relevance to the institutionalisation of the UK De-risking regime are the outcomes of broader political organisation, economic structure and performance. From the diverse dimensions of institutionalisation one underlying question emerges: can the incorporation of climate risks in investment decision-making provide anadequate incentive to drive the scale and pace of investment required to deliver Net Zero in the UK and internationally? This thesis is structured over five chapters. Chapter one synthesizes a review of literature, examining the history and outlining a conceptual framework for the UK De-risking regime. Chapter two outlines the methodology for the thesis, and the Geographic Political Economy approach. Chapter three is the first of three empirical chapters and outlines an institutional systems map of UK Climate Finance. This provides key context for subsequentchapters and illustrates the scope and complexity of the task set by the UK De-risking regime to embed the consideration of climate risk in financial markets. Chapter four explores how Geo-FinTech can integrate climate-related financial disclosures to identify and measure climate related financial risk, its capabilities, institutionalisation, limitations and implications for the De-risking regime and UK industrial strategy. Chapter five explores how devolved climate governance in Wales drives or inhibits the institutionalisation of the UK De-risking regime and implications for path dependencies of Climate Finance in Wales. Chapter six outlines the conclusions of this research anddraws out its implications for UK climate related financial policy as well as mapping out some areas for further research. In particular, I outline the need to consider more direct forms of structured public investment, that enable devolved governance to deliver the scale and pace of investment required for UK Net Zero.
published_date 2024-09-10T12:56:15Z
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score 11.037166

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