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A Scoping Review of Climate Finance Law within the Core Legal Acts of the EU 2030 Climate and Energy Framework

July 2021

Authors:

Katrien Steenmans

University of Copenhagen

Significant financial resources are required to mitigate and adapt to climate change. The European Union (EU) recognises the challenge of this. In its Communication developing the EU 2030 Climate and Energy Framework, the EU Commission highlighted climate finance as a key element. This article explores the extent to which this focus on climate finance has been integrated and implemented into six of the core legal acts of the Framework. This explorative analysis is facilitated by a scoping review, framed by Bowman’s Legal Analytical Framework of Climate Finance Options. Overall, several climate finance options have been encouraged or implemented that both directly make financial resources available and indirectly mobilise or leverage finance through education, awareness raising, developing skills and providing an enabling environment. There remain, however, many opportunities to enhance and add to these options, as the current focus remains predominantly on public, green financing. There is thus a need to implement financial measures to further catalyse the ‘greening’ of brown activities, and mobilise and leverage additional private sector funding.

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Comparing Canada’s proposed Critical Cyber Systems Protection Act with cybersecurity legal requireme...

March 2023 · International Cybersecurity Law Review

This article examines the Canadian federal government’s proposed Critical Cyber Systems Protection Act (CCSPA), compares it with existing and proposed cybersecurity legal requirements in the European Union (EU), and sets out recommendations to address shortcomings of the proposed Canadian legislation. One of the cornerstone components of Bill C‑26, the CCSPA seeks to regulate critical cyber ... [Show full abstract] systems in federally regulated private sectors. It represents a significant overhaul of Canadian cybersecurity regulation. However, the current proposed legislation exhibits many flaws, including a commitment to, and entrenchment of, a patchwork approach to regulation that focuses on formal registration; a lack of oversight of its confidentiality provisions; a weak penalty scheme that focuses solely on compliance, not deterrence; and diluted conduct, reporting, and mitigation obligations. To repair these flaws, this article reviews the provisions of the proposed law and compares them with the EU’s Directive Concerning Measures for a High Common Level of Security of Network and Information Systems Across the Union, the first EU-wide cybersecurity legislation, as well as its proposed successor, the NIS2 Directive. Where relevant, various other cybersecurity regulations in peer states are discussed. Specific recommendations are put forward.

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Project management and research governance – towards a critical agenda beyond neoliberalization? – c...

February 2023 · Fennia - International Journal of Geography

[...]
Elisa Pascucci

In this contribution to the debate that followed the publication of Hilde Refstie’s timely and cogent Reconfiguring research relevance, I propose to take a closer look at the funding structures that bind academia and other institutional and private sector actors into networks of collaboration and research co-production often experienced as dysfunctional. In particular, I focus on competitive ... [Show full abstract] funding bids that distribute financial and labour resources by awarding short-term ‘projects’, with particular reference to European Union (EU) projects. Drawing on my current research work on the ‘project economy’, co-led with Nadine Hassouneh and funded by the KONE Foundation at Tampere University, I make two initial suggestions that expand on some of the points raised so far in the discussion hosted by Fennia. First, project-based research funding is a more politicized and coercive tool than we tend to think. Second, project management and project-based work, and the associated patterns of (gendered and racialized) precarization and even abuse, have a longer and more ingrained history than what we commonly identify as the ‘neoliberalization’ of academia. By way of conclusion, I highlight how scrutinizing the funding architectures that enable and constrain our work help us to explore the relation between research and policy, beyond the limits of critical categories such as ‘neoliberalism’.

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Potential exposure and vulnerability to broader climate-related trade regulations: an illustration f...

January 2023 · Environment Development and Sustainability

Analyzing the effects on Latin American and Caribbean (LAC) countries of recently proposed European Union (EU) and United States (US) carbon border adjustment mechanisms (CBAs) and bans on the import of non-deforestation-free products (DFPs), we ask: What share of LAC exports could be affected? What would be the consequences of the EU and US broadening these regulations to other commodities, or ... [Show full abstract] of other countries adopting similar regulations? How vulnerable are LAC countries, in terms of emissions intensity, deforestation risk, and export concentration risks? What policies could they adopt in response? Using data from the World Integrated Trade Solutions, we find that, as the region’s productive profile is agricultural rather than industrial, CBAs have a milder effect than DFPs. Less than 0.5% of LAC exports are exposed under the EU-CBA, compared to 17% under the EU-DFP and around 6% under the US-DFP. A broader EU-CBA would impact up to 14% of LAC country exports, while expanding the consequences of the EU-DFP would be marginal. The impact of other countries adopting CBA plans would also be small, because the EU and US are the main LAC export destinations. LAC products are vulnerable for several reasons, from having higher embedded emissions—and therefore costs—than European producers’, to having regional competitors with lower emissions intensity or deforestation risk, and lacking alternative export markets. The LAC private sector could adapt its strategies to accommodate these risks, and there is also room for public action.

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Dynamic stability of the financial monitoring system: Intellectual analysis

January 2023 · PLoS ONE

Introduction Although there is a growing number of scientific publications on financial monitoring, combating money laundering, the shadow economy, and the impact of corruption on economic development, further research needs to determine the stability of the national financial system in dynamics. The dynamic stability of the national financial monitoring system subjects will allow to adequately ... [Show full abstract] assess the effectiveness of the existing national financial monitoring system in each country and determine the influential factors. Materials and methods The article investigates an approach to identifying the dynamic stability of the national financial monitoring system subjects based on the calculation of the integrated indicator of the country’s financial system propensity to ALM, vector autoregression (VAR) model taking into account time lag. The proposed integrated indicator allowed to adequately assess the existing financial monitoring systems of the countries (15 countries of the European Union for 2000–2020: Austria, Belgium, Cyprus, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Malta, Netherlands, Portugal, Slovak Republic, Spain). In addition, vector autoregression models (VAR) of the dependence of the country’s financial system propensity to ALM on the regressors Government Integrity, Index of economic freedom, Monetary Sector credit to the private sector (% GDP), were built, taking into account time lags in general and for each studied country. Results According to the modeling results, the national financial monitoring systems in Austria, Belgium, Estonia, Finland, France, Ireland, Netherlands, Slovak Republic, Spain were resistant to money laundering. It is vice versa in Malta, Greece, Cyprus, Portugal, Italy, Latvia. These conclusions are also confirmed based on a binary approach. Such exogenous variables as Government Integrity (with a lag of 2 years) and the Index of economic freedom (taking into account the time delays of the regression reflection under the influence of this regressor for 1 and 2 years) have a statistically significant effect on the country’s financial system. Conclusion The general vector autoregression (VAR) model shows that the current value of the country’s financial system propensity to ALM by 92.78% is determined by its previous value. With an increase of Government Integrity by 1%, the country’s financial system’s propensity to ALM will decrease by 0.000616 units with a lag of two years. The nature of the impact made by the Index of economic freedom on the performance feature was specific—when this indicator increases by 1% for a lag delay in one year, the PFSALM value will decrease by 0.001997 units, and for a lag delay of two years it will change the trend and increase by 0.003076 units per unit, respectively.