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DTEND;TZID=Europe/London:20241002T153000
UID:https://www.lse.ac.uk/granthaminstitute/?post_type=event&p=74918
DTSTAMP;TZID=Europe/London:20260429T054125Z
LOCATION:FAW 9.04\, London School of Economics\, Clement’s Inn\, London WC2A 2AZ
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<p><a href="https://www.gla.ac.uk/schools/law/staff/javiersolana/#teaching\,publications\,articles">Javier Solana</a> (School of Law - University of Glasgow) will be discussing the paper <em>Leveraging payment systems to address the climate and biodiversity emergencies</em>.</p>
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<p><strong>Abstract</strong></p>
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<p>Sustainable finance debates are missing what is\, arguably\, the most indispensable service provided by the financial system: payments. In this paper\, we develop a legal analysis of payments to highlight the potential of payment systems as a source of leverage to address sustainability challenges. This analysis deepens our understanding of the power of banks to influence the sustainability of their clients beyond their lending and investment practices\, and it reveals new keystone actors within the financial system whose involvement will be crucial for effectively addressing the climate and biodiversity emergencies: payment system operators. The concentration of final settlement\, a key part of the banking process that leads to payment completion in interbank transfers of electronic funds\, in a very small number of payment systems\, underscores the power of these operators to influence the activities of entire value chains. Banks and payment system operators\, and those tasked with their regulation should consider how to integrate sustainability considerations into the provision of payment services.</p>
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<p><strong>The Research Seminar Series is open to all LSE researchers. Forthcoming seminars will be announced on this page with location of the in-person events. No pre-registration required to attend the seminars. If you wish to attend the seminars or want to be kept informed about upcoming seminars\, please email <a href="mailto:Gri.Events@lse.ac.uk">Gri.Events@lse.ac.uk</a>.</strong></p>
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URL;VALUE=URI:https://www.lse.ac.uk/granthaminstitute/events/leveraging-payment-systems-to-address-the-climate-and-biodiversity-emergencies-javier-solana/
SUMMARY:Leveraging payment systems to address the climate and biodiversity emergencies | Javier Solana
DTSTART;TZID=Europe/London:20241002T140000
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