𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬 (𝟔 𝐜𝐡𝐚𝐩𝐭𝐞𝐫𝐬)

Green Bonds and the Long Way to Paris
Manuel Neumann
Pages 1-14
What Do We Already Know About Green Bonds? A Literature Review
Manuel Neumann
Pages 15-40
Towards New Approaches of Understanding the Greening of Capital Markets
Manuel Neumann
Pages 41-86
Open Access
The Political Economy of Greening South Africa’s Capital Markets
Manuel Neumann
Pages 87-112
A Stalling Green Bond Take-Off
Manuel Neumann
Pages 113-247
The Limits of Green Finance in Fossil-Based Emerging Economies—Lessons Beyond South Africa
Manuel Neumann
Pages 249-275
Open Access
Back Matter
Pages 277-281

Funding low-carbon transitions to address climate change is one of the major challenges of our time. Green bonds have emerged as a powerful tool to enlist institutional investors’ wealth for these transitions. But despite exponential growth in many parts of the world, the green bond market in South Africa has been stalling. This book project grapples with this puzzle. Firstly, it debunks some of the promises underpinning green bond markets and traces the manifold practices undergirding its promotion. Secondly, it identifies some barriers prohibiting the expansion of green bonds in emerging markets and zooms in on the depoliticizing tendencies a transition premised on financial innovation produces. Thirdly, this work discloses the idiosyncratic political economic challenges of a fossil-based economy in transition and shines a light on the competing elements of a ‘green’ and a ‘just’ transition. It argues that the limited uptake of green bonds can best be explained by the instrument’s inability to adequately incorporate the various demands levied on South Africa’s contested transition trajectory. In so doing, this book contributes important new qualitative insights into green bond markets-in-the-making and extends political economic scholarship on finance-led transition endeavors in emerging markets.