R.J. Brandes Company

Authorization for use or reproduction of any original material contained in this publication, i.e., not obtained from other sources, is freely granted. The Board would appreciate acknowledgment. The use of brand names in this publication does not indicate an endorsement by the Texas Water Development Board or the State of Texas. With the exception of papers written by Texas Water Development Board staff, views expressed in this report are of the authors and do not necessarily reflect the views of the Texas Water Development Board. Published and distributed by th

Green financing, interrupted. Potential directions for sustainable finance in Luxembourg

This paper has a quintessentially explorative character. It aims at identifying existing as well as potential (yet missing) links between the finance industry and local businesses that aspire to more sustainable economic practices. Building on the observation that green investments have been gaining weight in global investors’ strategies, we analyse how sustainable – in the most comprehensive sense of the word – green investments could ultimately be(come), when green assets are still managed according to the logic of “financialised finance”. This latter’s technologies of commodification, securitisation and derivatives-trading allegedly oppose alternative economic practices that pursue economic sustainability through social and environmental gains. In contrast, we investigate how the finance industry relates to alternative financial practices, products and organisations that offer sustainability-oriented financing services, – for example, regional banks, cooperatives and the like, – with a specific focus on green, social and solidarity businesses. Both approaches subscribe to apparently contradictory ideologies. We establish a beneficial dialogue between the opposing models of “green capitalism” and “alternative economies” so as to identify potential points of intersection. The context of Luxembourg’s local/regional economies provides a great opportunity to empirically access three levels of investigation: the private sector, the public sector and an international financial centre, a key facilitator for green finance, thus utilising insights from the concept of bricolage. Whilst supporters of Luxembourg’s emerging green finance profile recognise its positive impact on the small country’s national branding, in combination with economic stimuli, more critical commentators point to pure “green washing” effects

Being Virtuous and Prosperous: SRI’s Conflicting Goals

socially responsible investing, ethical investing, fiduciary duty,

The determinants of company response to environmental regulation

The impact of governmental regulatory action on the economic performance of mining companies has been the focus of a great deal of attention by industry commentators and academic scholarship alike. The influence of environmental regulation on the strategic objectives of mining firms is less well understood, however. This article investigates what influences the way mining companies react to environmental approvals regulation. It presents the results of a recent cross-national survey of Australian and Canadian mining companies into the effect of a range of possible determinants on company response to environmental approvals regulation. Possible influences included both external pressures (stakeholder pressure, jurisdictional culture and market characteristics) and internal pressures (organizational culture, organizational learning, the influence of individuals within firms and company size). While cross-national comparison revealed some differences with respect to the influence of particular pressures, on balance the results suggest that for mining companies in both countries, internal pressures exert the greatest influence on company response. These results contradict a prevailing view in the literature, which suggests that external factors, particularly stakeholder groups, exert the most influence on the environmental responses of firms. The article concludes that the existing emphasis on external pressures to explain corporate environmental behaviour should be supplemented by a focus on the internal dynamics of firms

Goals, challenges, and next steps in transdisciplinary fisheries research : perspectives and experiences from early-career researchers

Fisheries are highly complex social-ecological systems that often face 'wicked' problems from unsustainable resource management to climate change. Addressing these challenges requires transdisciplinary approaches that integrate perspectives across scientific disciplines and knowledge systems. Despite widespread calls for transdisciplinary fisheries research (TFR), there are still limitations in personal and institutional capacity to conduct and support this work to the highest potential. The viewpoints of early career researchers (ECRs) in this field can illuminate challenges and promote systemic change within fisheries research. This paper presents the perspectives of ECRs from across the globe, gathered through a virtual workshop held during the 2021 World Fisheries Congress, on goals, challenges, and future potential for TFR. Big picture goals for TFR were guided by principles of co-production and included (i) integrating transdisciplinary thinking at all stages of the research process, (ii) ensuring that research is inclusive and equitable, (iii) co-creating knowledge that is credible, relevant, actionable, and impactful, and (iv) consistently communicating with partners. Institutional inertia, lack of recognition of the extra time and labour required for TFR, and lack of skill development opportunities were identified as three key barriers in conducting TFR. Several critical actions were identified to help ECRs, established researchers, and institutions reach these goals. We encourage ECRs to form peer-mentorship networks to guide each other along the way. We suggest that established researchers ensure consistent mentorship while also giving space to ECR voices. Actions for institutions include retooling education programs, developing and implementing new metrics of impact, and critically examining individualism and privilege in academia. We suggest that the opportunities and actions identified here, if widely embraced now, can enable research that addresses complex challenges facing fishery systems contributing to a healthier future for fish and humans alike