Barriers and enablers to sustainable finance: A case study of home loans in an Australian retail bank

Cheung, H; Baumber, A; Brown, PJ

Barriers and enablers to sustainable finance: A case study of home loans in an Australian retail bank

Cheung, H Baumber, A

Brown, PJ

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Publisher:: ELSEVIER SCI LTD
Publication Type:: Journal Article
Citation:: Journal of Cleaner Production, 2022, 334
Issue Date:: 2022-02-01

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Field	Value	Language
dc.contributor.author	Cheung, H
dc.contributor.author	Baumber, A https://orcid.org/0000-0001-8560-8661
dc.contributor.author	Brown, PJ
dc.date.accessioned	2022-06-22T04:44:44Z
dc.date.available	2022-06-22T04:44:44Z
dc.date.issued	2022-02-01
dc.identifier.citation	Journal of Cleaner Production, 2022, 334
dc.identifier.issn	0959-6526
dc.identifier.issn	1879-1786
dc.identifier.uri	http://hdl.handle.net/10453/158316
dc.description.abstract	Large financial institutions are inextricably linked to the climate risks and opportunities affecting their customers and have the potential to stimulate action on climate change though their lending decisions and policies. Ensuring that the prices of assets, including residential property, reflect climate risks is essential in averting the systemic risk climate change poses to financial stability. By undertaking a case study of a major Australian bank through interviews and focus groups with twenty-six participants, we identify factors influencing climate-related decisions affecting home loans and draw together a framework of barriers and enablers building on prior literature. The framework's six categories are economic market failure, economic non-market failure, political-institutional, socio-cultural, behavioural and organisational, with more specific factors within each category. Interdependencies and relationships between factors mean they cannot be perceived or addressed in isolation. Further theorising of the stages of decision-making within the case bank reflect a need for proactive, comprehensive action embedded in core value creating processes and internal governance, that interact with and are deeply connected to the broader society and environment in which the bank operates.
dc.language	English
dc.publisher	ELSEVIER SCI LTD
dc.relation.ispartof	Journal of Cleaner Production
dc.relation.isbasedon	10.1016/j.jclepro.2021.130211
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.subject	0907 Environmental Engineering, 0910 Manufacturing Engineering, 0915 Interdisciplinary Engineering
dc.subject.classification	Environmental Sciences
dc.title	Barriers and enablers to sustainable finance: A case study of home loans in an Australian retail bank
dc.type	Journal Article
utslib.citation.volume	334
utslib.for	0907 Environmental Engineering
utslib.for	0910 Manufacturing Engineering
utslib.for	0915 Interdisciplinary Engineering
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Provost
pubs.organisational-group	/University of Technology Sydney/Provost/TD School
utslib.copyright.status	open_access	*
utslib.copyright.embargo	2024-02-01T00:00:00+1000Z
dc.date.updated	2022-06-22T04:44:41Z
pubs.publication-status	Published
pubs.volume	334

Abstract:

Large financial institutions are inextricably linked to the climate risks and opportunities affecting their customers and have the potential to stimulate action on climate change though their lending decisions and policies. Ensuring that the prices of assets, including residential property, reflect climate risks is essential in averting the systemic risk climate change poses to financial stability. By undertaking a case study of a major Australian bank through interviews and focus groups with twenty-six participants, we identify factors influencing climate-related decisions affecting home loans and draw together a framework of barriers and enablers building on prior literature. The framework's six categories are economic market failure, economic non-market failure, political-institutional, socio-cultural, behavioural and organisational, with more specific factors within each category. Interdependencies and relationships between factors mean they cannot be perceived or addressed in isolation. Further theorising of the stages of decision-making within the case bank reflect a need for proactive, comprehensive action embedded in core value creating processes and internal governance, that interact with and are deeply connected to the broader society and environment in which the bank operates.

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http://hdl.handle.net/10453/158316