Hype cycles or norm cascades? Making sense of the Glasgow Financial Alliance for Net Zero
ハイプサイクルか規範カスケードか？グラスゴー金融同盟ネットゼロの理解 (AI 翻訳)
Christian Elliott
🤖 gxceed AI 要約
日本語
グラスゴー金融同盟（GFANZ）とその加盟イニシアチブ（NZIA、NZBA、NAMI）の急成長と崩壊を分析。従来の規範カスケード理論では説明困難な「ハイプサイクル」モデルを提案。不確実性と時間圧力が参加を促進するが、脆弱性も招くことを示す。
English
Analyzes the rapid growth and decline of the Glasgow Financial Alliance for Net Zero (GFANZ) and its affiliate initiatives (NZIA, NZBA, NAMI). Proposes a 'hype cycle' model over the traditional norm cascade theory, showing that ambiguity and time pressure drive participation but also fragility.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本でもGFANZ系アライアンスへの参加企業が存在するが、脱退や再編が生じている。本論文は、金融機関のネットゼロ宣言が必ずしも強固なコミットメントとは限らないことを示唆し、日本の金融機関や規制当局にとってアライアンス参加のリスクと戦略的意義を再考する上で参考になる。
In the global GX context
GFANZ represents a key global initiative in transition finance. This paper challenges assumptions about the resilience of net-zero alliances, offering insights for global policymakers and financial institutions on the fragility of voluntary climate commitments. Relevant for understanding the limits of norm cascades in climate finance.
👥 読者別の含意
🔬研究者:Examines the dynamics of climate finance alliances through a hype cycle lens, useful for scholars studying norm diffusion and institutional fragility.
🏢実務担当者:Financial institutions can learn about the risks of participating in high-profile net-zero alliances and the importance of robust commitment structures.
🏛政策担当者:Regulators and standard-setters should consider the fragility of voluntary alliances when designing mandatory disclosure and transition planning frameworks.
📄 Abstract（原文）
Abstract In 2021, the Glasgow Financial Alliance for Net Zero (GFANZ), an umbrella organization mobilizing a network of sectoral initiatives for climate action, was launched to ‘transform the global financial system.’ In part due to its efforts, hundreds of global financial companies joined and collectively committed to net-zero emissions reduction targets. But the momentum was short-lived: in the ensuing years, internal and external challenges led to defections, the reconfiguration of GFANZ, and the collapse of affiliate alliances. Such a pattern rests uneasily with theories of change like the norm cascade, which asserts that exponential uptake is a prelude to resilience, not fragility. In this paper, I argue that cases such as GFANZ may be better described as a ‘hype cycle’ rather than a norm cascade, where ambiguity and uncertainty limit normative and calculative reasoning; actors refer to each other’s behavior as an indication of what to do; and time limits incentivize participation to avoid being left behind. I demonstrate the validity of this account through an analysis of three GFANZ-affiliated alliances (the Net-Zero Insurance Alliance, the Net-Zero Banking Alliance, and the Net Zero Asset Managers Initiative), and their episodes of membership growth and decline.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.1017/s1752971926100219first seen 2026-05-20 05:51:09
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