@riccardobaioni.bsky.social, Nicolás Águila, Janina Urban, @paulahaufe.bsky.social, @simonschairer.bsky.social & @jwullweber.bsky.social discuss how the European Commission attempted to reinvigorate the stalled Capital Markets Union project by reframing it as a vehicle for green investments 👇

Happy to share a new open-access article from the SuFi project at Witten/Herdecke University, just published in @jeppjournal.bsky.social @naguila.bsky.social @janina urban @paulahaufe.bsky.social @simonschairer.bsky.social @jwullweber.bsky.social 👉 www.tandfonline.com/doi/full/10....

Figure from our #policy #report: 1. The main barrier to #financing the necessary activities for the sustainable transition is their lack of #bankability 2. High GHG-emitting activities remain #bankable and thus continue to attract financing from banks and shadow banks www.uni-wh.de/en/your-camp...

Our #policy #paper has just been published: "Financing the #green #transition: Increasing #bankability, phasing out carbon investments and funding 'never bankable' activities". We ask: Why does a large green financing gap persist? What policies do we need to change it: www.uni-wh.de/en/your-camp...

Public launch of our policy report "#Financing the #green #transition: Increasing #bankability, phasing out carbon #investments and funding 'never bankable' activities". Monday 30.6., 11:00 (CET) via Zoom. Comments: Silke Stremlau, Sustainable Finance Advisory Committee www.uni-wh.de/en/financing...

📣 Neues Impulspapier „Sicherheit: Worüber wir jetzt reden müssen“. Das vierseitige Papier zielt darauf ab, Debatten über Sicherheit und Nachhaltigkeit anzuregen. www.wbgu.de/ip-sicherheit @akhornidge.bsky.social‬ ‪@alettabonn.bsky.social‬ ‪@traidlhoffmann.bsky.social‬‬‬ @jwullweber.bsky.social‬

We are thrilled to announce the public #launch of our #policy #paper: "Financing the #green #transition: Increasing #bankability, phasing out carbon investments and funding 'never bankable' activities" @ioew.bsky.social Monday 30.06.2025, 11:00 (CET) www.uni-wh.de/die-finanzie...

📣 New WBGU discussion paper „Security: What we need to talk about". www.wbgu.de/dp-security The aim of the four-pager is to stimulate debates on security and its relation to sustainability. @akhornidge.bsky.social‬ @alettabonn.bsky.social‬ ‪@traidlhoffmann.bsky.social‬‬‬ @jwullweber.bsky.social‬

Wir vergeben einen Jugend-Kreativpreis Nachhaltigkeit: "System change not climate change?"! Wie sieht eine nachhaltige und gerechte Welt aus – und was ist der Weg dorthin? Ob Text, Collage, Illustration, Kurzvideo oder Comic – deine Vision zählt. www.uni-wh.de/euer-campus/...

Nach den drei trockensten Monaten seit Beginn der Wetteraufzeichnung wichtiger denn je!

We had an intense week at the German Advisory Council on Global Change @wbgu.bsky.social. In light of the challenges facing the German society and societies all over the world, how can the WBGU support policymakers in addressing global environmental change? Stay tuned for our answers!

A great paper!

Our second [tra:ce] working paper, which addresses the challenges of financing green investments, is out: "The green banking gap: how bankability, business models, and regulations challenge banks' decarbonisation". Join our public paper launch on Monday, 26 May, 11h (CET)!

Jetzt erst recht: den BA #Global #Sustainability: #Climate, #Justice, #Transformation studieren! www.uni-wh.de/unser-vibe/l...

(1) loan securitization, (2) emissions risk transfers, (3) bond financing, (4) carbon asset partitioning, (5) offshore corporate wealth chains, (6) private credit, and (7) proved developed producing reserves securitization.

Drawing on qualitative expert interviews and financial market data, the paper explains how the offshore-shadow-banking nexus hampers the green transition by introducing the concept of ‘shadow carbon financing’, which can operate through the following seven channels:

These blind spots seriously undermine regulatory efficacy because offshore finance enables the obfuscation of financial flows, while shadow banking facilitates alternative financing to high carbon-emitting firms.

Recent years saw regulatory efforts to steer the financial system towards financing the transition to a net-zero economy and phase out carbon financing. However, EU regulation has left the nexus of offshore finance and the shadow banking system untouched.

🚨 New Working Paper published: Out of the light, into the dark: how ‘shadow carbon financing’ hampers the green transition and increases climate-related systemic risk 🛢️💸🏝️ papers.ssrn.com/sol3/papers.... A 🧵 with our main arguments:

Towards a Green International Monetary System: The Ecor and a Green World Central Bank Nicolás Águila, @paulahaufe.bsky.social & @jwullweber.bsky.social argue for the Ecor, a new monetary tool that could break the current impasse surrounding climate transition financing. isrf.org/blog/towards...

How can we finance a globally just sustainable transformation? In this piece with @naguila.bsky.social, @jwullweber.bsky.social we explore the need to reform the international monetary system for that purpose. Big thank you to @isrfoundation.bsky.social for publishing it and amazing editorial work👇

Towards a Green International Monetary System Nicolás Águila, @paulahaufe.bsky.social and @jwullweber.bsky.social argue for the Ecor, a new international monetary tool, based on Keynes's Bancor, that could break the current impasse surrounding climate transition financing. isrf.org/blog/towards...

📢 Now Published in Issue! 📢 Our article on what politicians think about the ECB is now out in @jcms-eu.bsky.social We surveyed Members of the European Parliament to uncover their views on the ECB 👉 Available at onlinelibrary.wiley.com/doi/10.1111/... And a short thread here -->

This paper is both enlightening and rigorous. I really enjoyed its high level discussion of the infrastructure of power and agency in a world in which private authority over money trumps public authority.

»Statt den angeblichen deep state auszurotten, zielt Trump darauf, tatsächlich einen Staat im Staate zu errichten – mit dem Ziel, eine Regierung zu bilden, die mächtiger und parteiischer ist als jemals zuvor in der Geschichte des Landes.«

I am very happy that the article with Nicolás Águila has now been published open access in the March issue of @jeppjournal.bsky.social

I am very happy that my book Central Bank Capitalism has been reviewed by @b-eichengreen.bsky.social in @foreignaffairs.com www.foreignaffairs.com/reviews/cent...

🚨New paper by the Uni Witten SuFi Project in @finandsoc.bsky.social Channels of influence in sustainable finance: A framework for conceptualizing how private actors shape the green transition www.cambridge.org/core/journal... A 🧵 on our main arguments:

Our new Report "Water in a heated world" is now available in english on our website: www.wbgu.de/water Enjoy the read! There will also be a virtual launch event (Webinar) on Friday, January 24, 11:00 am – 1:00 pm: www.wbgu.de/en/events/ev... @drmacaretta.bsky.social @jwullweber.bsky.social

#France: So far, the spillover to bank’s funding costs has been modest, with #French banks CDS trading below OAT-ESTR #spread. #banks being able to fund their senior #bonds below their sovereign is usually not a stable situation, chart @NordeaMarkets

Congratulations! A very important contribution to the debate on the role of central banks in peripheral countries, with important insights into the functioning of money and central banks in general.

Ich gebe Montagabend ein Online-Probeseminar "Klimakrise, Staat und Markt - wie die Transformation finanzieren", zugleich ein Schnupperabend für unseren B.A. Global Sustainability und B.A. PPÖ. Es wird Raum für Diskussion und Fragen geben. Studierende werden auch vor Ort sein lnkd.in/eRku2zgm

Ich freue mich unglaublich über die Berufung in den Wiss. Beirat #Globale #Umweltveränderungen #WBGU. Zusammen mit den exzellenten Kolleg:innen und meinem großartigen Team werden wir die nachhaltige und gerechte gesellschaftliche Transformation weiter voranbringen www.wbgu.de/de/der-wbgu/...

Ein sehr lesenswertes Buch! @stefeich.bsky.social

Super happy to find my new book "Central Bank Capitalism. Monetary policy in times of crisis" in the post this morning!

I have just received the hardcover!

Schaut Euch das an! Männer die die Welt verbrennen! orf.at/av/video/tvt...

CBs dispel fears of a wage-price spiral. There is barel evidence of #wage exaggeration that could fuel #inflation - This applies to 11 economies, acc. to economists from major CBs using a #model developed by @BenBernanke and @ojblanchard1 - chart @KeineWunder @FuW_News www.fuw.ch/inflation-no...

Apply now for the #BA #Global #Sustainability. #Climate #Justice #Transformation. A critical B.A. study (+practice) program about global political + economic transformation processes @Uni Witten/Herdecke. More Info: www.uni-wh.de/en/uwh-inter...

Now that I have gathered close to 50 followers since my arrival, I hope that this post will get a bit more attention. journals.sagepub.com/doi/full/10....

Lesenswerter Artikel von Rainer @vossman.bsky.social in der FR zu @paulahaufe.bsky.social @naguila.bsky.social und meinem Vorschlag für eine Nachhaltigkeits-orientierte Weltwährung und Weltzentralbank um Transformationsprozesse global, gerechter und flexibler zu finanzieren www.fr.de/wirtschaft/g...

In 🇩🇪 gehört den reichsten 5 Prozent fast so viel wie allen anderen zusammen – das zeigen neue Daten der EZB. Was kann man dagegen tun? www.zeit.de/geld/2024-04...

We organize a summer school on #Sustainability in Witten. Apply here: Humboldtⁿ-School “Planetary Health in NRW – Momentum for Change“ humboldt-n.nrw/nachwuchsfoe...

Study #Global #Sustainability. #Climate #Justice #Transformation. A critical B.A. study (+practice) program about global political + economic transformation processes @UniWH More Info: www.uni-wh.de/en/uwh-inter...

Excited for #PPEConference2024! Theme: "Generation on the EDGE - Environment, Democracy, Globalization, Economics." Join us for lectures, workshops, networking, student presentations & panel discussions. Tickets: pretix.eu/PPEConferenc...

🚨New & Open Access – How to finance a sustainable transformation globally? @jwullweber.bsky.social , @naguila.bsky.social and me 💰propose: The ecor as global special purpose money ⛔bc any answer must counter the international monetary hierarchy. a short 🧵 --> rb.gy/yuxbmy

How to steer #SustainableFinance effectively? ⏰ 22.3.24, 11:00-12:30 📍 Online-Webinar mit mit 🔹 Florian Kern, IÖW 🔸 @jwullweber.bsky.social, @simonschairer.bsky.social 🔹 Silke Stremlau, Sustainable-Finance-Beirat der BuReg hosted by: VfU e.V. sfcp-network.de/veranstaltun... gefördert vom BMBF

Many have argued that increasing interest rates was the wrong policy to tackle inflation. In our recent paper, @jwullweber.bsky.social and I show that rate hikes disproportionally affect green investments, thus worsening the environmental sources of inflation. link.springer.com/article/10.1...

Many thanks to @simonschairer.bsky.social, @janfichtner.bsky.social, @paulahaufe.bsky.social, Riccardo Baioni, and Janina Urban for their very helpful comments and support - #dreamteam!