Operationalising sustainability? Why sustainability fails as an investment criterion for safeguarding the future
نویسندگان
چکیده
Policy instruments promoting sustainability, such as investment taxonomies, are playing an increasing role in guiding the allocation of financial resources internationally. But can policy define sustainability ways that both operational (i.e. assessable via replicable procedures) and which specify practices reliably be expected to enhance future generations' welfare? This paper analyses candidate definitions identifies a dilemma: while various identify ‘capital’ variable whose value indeed determined empirically; we have no reason assume preservation any specific capital will maximise welfare. By contrast, defined ‘dynamically’ terms activities will, on expectation, lead developmental trajectories with high But, show through discussion concrete examples, ‘dynamic sustainability’ cannot readily operationalised. We conclude what qualifies ‘sustainable’ remain subject political dispute authoritative comprehensive assessments ‘sustainability’ chimeric. suggest selecting narrow class measures, life-cycle greenhouse gas emissions, might more effective less contentious approaches resource allocation.
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ژورنال
عنوان ژورنال: Global Policy
سال: 2022
ISSN: ['1758-5880', '1758-5899']
DOI: https://doi.org/10.1111/1758-5899.13160