Capitalizing on Green Debt 1 A World-Ecology Analysis of Green Bonds in the Brazilian Forestry Sector

Green bonds represent an increasingly popular way to match "environmental sustainability," growth, and the aspirations of global financial capital. In this article, we leverage a world-ecology approach to unpack and make sense of green bonds as public/private constructions that shape and s...

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Bibliographic Details
Published in:Journal of world-systems research 2021-01, Vol.27 (2), p.410-437
Main Authors: Ferrando, Tomaso, Junqueira, Gabriela de Oliveira, Vecchione-Gonçalves, Marcela, Miola, Iagê, Prol, Flávio Marques, Herrera, Hector
Format: Article
Language:English
Subjects:
Capitalism
Climate change
Closely held corporations
Debt
Dialectics
Ecology
Economic growth
Forestry
Institutional investments
International finance
Political economy
Sustainable development
Value creation
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Summary:Green bonds represent an increasingly popular way to match "environmental sustainability," growth, and the aspirations of global financial capital. In this article, we leverage a world-ecology approach to unpack and make sense of green bonds as public/private constructions that shape and subordinate the complex ecologies of territories to the needs of finance and reproduce the global patterns of uneven development and capitalist accumulation. Through the study of recent green bond issuances realized by private companies active in the forestry sector in Brazil, we discuss how green bonds as a "new" form of "green" debt put nature at work and transform the territories and natural elements in the global south into "temporal and spatial fixes" for the needs of global financial capital.
ISSN:1076-156X
DOI:10.5195/JWSR.2021.1062