Sustainable finance within planetary boundaries
惑星境界内の持続可能な金融 (AI 翻訳)
Nicholas S.P. Tay, Sun-Young Park
🤖 gxceed AI 要約
日本語
本研究は、金融理論の基礎を惑星境界内で再構築する統合フレームワークを提示。従来の新古典派パラダイムでは地球システムのリスクを評価できないと指摘し、企業を生物物理・社会システムに埋め込んだモデルを提案。執行可能なガバナンスと規制により長期的価値創造を制度化する方法論を提供する。
English
This study develops an integrated framework to reframe finance theory within planetary boundaries. It argues the neoclassical paradigm cannot price risks from breaching Earth-system thresholds, proposing an embedded firm model within biophysical and social systems. The framework operationalizes long-term value creation through enforceable governance and regulatory mechanisms.
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
本論文は、地球システムの限界を金融理論に組み込むための概念的基盤を提供する。日本でもSSBJや気候開示が進む中、金融システムの根本的変革を示唆する内容として、規制当局や投資家にとって示唆に富む。
In the global GX context
This paper contributes to the global discourse on sustainable finance by grounding financial theory in planetary boundaries. It addresses key gaps in how financial systems can internalize systemic ecological risks, complementing initiatives like TCFD, ISSB, and transition finance frameworks.
👥 読者別の含意
🔬研究者:A foundational reframing of finance theory for researchers working on sustainable finance, ecological economics, and climate risk.
🏢実務担当者:Provides a high-level conceptual framework for corporate sustainability teams to understand how foundational financial assumptions affect long-term value creation.
🏛政策担当者:Offers a blueprint for regulatory reform to internalize systemic environmental externalities in capital markets.
📄 Abstract（原文）
Purpose This study develops an integrated framework to reframe the foundations of finance theory and apply them to reform governance logic and rationalize an operational blueprint for institutionalizing the creation of long-term value that benefits society and the environment through enforceable governance and regulatory mechanisms. Design/methodology/approach An interdisciplinary conceptual synthesis to reconcile evidence from Earth system sciences and social complexities with the theoretical foundations of finance. Findings Our analysis shows that institutionalizing sustainable long-term value creation necessitates reframing the foundations of finance theory. The prevailing neoclassical paradigm, which assumes atomistic market actors and treats social and environmental factors as exogenous, is structurally incapable of pricing risks arising from breaches of planetary boundaries and social thresholds. We propose an embedded conceptualization of the firm within interconnected biophysical and social systems. The reframe conceptual framework leads to reforming corporate governance and the regulatory architecture to internalize systemic externalities through enforceable mechanisms that align capital allocation for a resilient and just transition. Originality/value This paper contributes to sustainable finance and corporate governance in three ways: by reframing the neoclassical model of the firm as embedded within biophysical and social systems; by integrating planetary boundary research with firm-level valuation and governance, clarifying how ecological risks affect long-term firm value and financial stability and by operationalizing sustainable value creation through an integrated framework and governance architecture that internalize systemic risks and enable scalable, long-term value.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.1108/mf-01-2026-0073first seen 2026-05-14 23:17:52
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。