A Worm’s Eye View of Environmental Finance
International Edition,
Springer Verlag, London,
United Kingdom / Heidelberg, Germany,
with foreword by
Prof. Dr. Abraham Abraham CFA, Director, MBA,
Arab Open University, Kuwait.
Enabling Environment is as real as it gets. The global commons are jointly owned and their inhabitants are severally obligated to ensure their preservation. In the face of protracted negotiations, convoluted documentation, discord, and incessant bickering among scientists, activists, pressure groups of various hues, politicians and negotiators, very often, the people on the ground are ignored or taken for granted. In the meantime, life meanders along. It is these ‘everyday individuals’ who make consumption related choices on ways of living, travelling or in preferring products or services over others. Enabling Environment puts the individual front and center.
Ecosystem services need to be recognized, appropriately priced and the costs allocated to the agents concerned. Enabling Environment is about defining economic and non-economic incentive structures and exploiting them to derive pro-environmental outcomes. This collection of articles illustrates the use of existing social, economic and regulatory structures, and the financial architecture and instruments, suitably modified or extended, to help internalize the environmental externality.