Ecological Economics and Finance

“This textbook and the philosophy underlying its creation represents an integrated approach to putting nature and humanity at the heart of economics and finance. Erudite, complex without being overly opaque, and most of all challenging, it should become a keystone text as we move forward towards reclaiming economics and finance as anthropocentric social sciences.” — Brian Lucey, Professor of Finance, Trinity College Dublin, University of Dublin, Ireland “Many economists still dream of an economic world that, following natural laws, would spontaneously converge towards a general market equilibrium, if we let it. The time for dreaming has given way to the nightmares of financial crises, growing social inequality around the world and global warming that leaves us no choice but to act. This book deals with the reality of how the economy works. It opens the way to understanding the challenges of the 21st century.” — Edwin Le Héron, Professor of Economics, Sciences Po Bordeaux – Centre Émile Durkheim, France “Rethinking money and debt through the prism of the common good rather than guilt, defending a truly sustainable approach to finance, reconsidering the crushing weight of short-term profitability in financial models, this book tackles with seriousness and competence the renewal of economic thought so that it can no longer be an obstacle but a help in confronting the great challenges of the 21st century, starting with climate change. This book is an essential contribution to the development of humanist and ecological economic thought. It is written by high quality researchers from the French branch of the SDSN, gathered around the talented Thomas Lagoarde-Ségot.” — Nicolas Dufrêne, Director of the Institut Rousseau, France This textbook, written by fifteen economists from the SDSN France network, provides an accessible introduction to ecological economics and finance. It examines the development of monetary and financial systems to demonstrate how they limit sustainability and hinder environmental goals. By offering a pluralist perspective, with ideas from both macro and microeconomics, the chapters offer a framework for a new kind of economics that is built around sustainability. Empirical case studies are utilized to give insight into the failure of traditional financial systems and to highlight the actions required to meet the 2030 Sustainable Development Agenda. Introductory boxes, learning objectives, real-world examples, and revision questions are included to aid learning and self-assessment. This textbook, based on the book Ecological Money and Finance (2023), shows how economics can combat ecological challenges and have a positive impact on efforts to tackle climate change. It will be relevant to students interested in environmental economics and sustainable finance. Thomas Lagoarde-Ségot is Professor of International Economics and Finance at KEDGE Business School, France. In 2023, he received the Financial Times Responsible Business Education Award for his teaching and research.