ABSTRACT
Sustainable Finance Roadmaps (SFRs) have emerged internationally as an instrument for sustainable finance reform. However, there is variation among countries over who leads the SFR process. This article focuses on Aotearoa New Zealand where the process was led by an intermediary, the Sustainable Finance Forum, a multistakeholder process which convened stakeholders for SFR development. This case study contributes to the literature on intermediaries in sustainability transitions by showing intermediation in the financial sector. Empirical analysis demonstrates that intermediation functioned as a strategic intervention to overcome regime-level barriers to transition by visioning, convening and coordinating stakeholders, and developing transition pathways, albeit with challenges in terms of Māori representation and government participation. This case study shows how intermediaries adapted to the distinctive demands of early transition phases, especially by a process of reproduction where one intermediary created another.
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Notes
1 The number in the bracket denotes the number of research participants from that specific type of sector.
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Notes on contributors
David Hall
David Hall has a DPhil in Politics from the University of Oxford and currently is Senior Lecturer at the School of Social Sciences and Public Policy, Auckland University of University (AUT). His research focus is climate action with a particular focus on the politics of sustainability transitions, climate policy design, sustainable finance, and nature-based solutions. He is Founding Director of the Climate Innovation Lab, Principal Investigator for AUT’s Living Laboratories Programme, member of the Forestry Ministerial Advisory Group, Director of the Environmental Defence Society, inaugural Energy Fellow for Ara Ake, and Honorary Fellow of the Hanken Centre for Accounting, Finance and Governance.
Tongyu (Melody) Meng
Tongyu (Melody) Meng has a PhD in Management from the University of Auckland and is currently a research fellow at the Auckland University of Technology. She is also a senior analyst at Sustainalytics working on sustainable bonds issuance projects and taxonomy development. She was a Professional Teaching Fellow at the University of Auckland. She has diversified experience in a range of sectors including sustainable finance, renewable energy market, cross-border e-commerce, consulting, aviation, real estate, media, education, sports, and tourism.