Further details on the special events

Financial Innovation for a Sustainable Future : 

The financial sector is increasingly recognized as a critical player in addressing global challenges related to climate change and sustainable development (Edmans & Kacperczyk, 2022). The nexus between finance and sustainability encompasses a wide range of themes, including international financial cooperation, climate finance mechanisms, and their implications for economic growth. This special issue aims to delve deeply into these areas, providing a platform for high-quality research that explores the intersection of finance, sustainability, and growth.

Finance plays a pivotal role in mobilizing the resources necessary to achieve sustainable development goals (SDGs) (Porter, & Kramer, 2011). Financial institutions, through mechanisms like green bonds, carbon markets, and climate finance, are essential in channeling funds towards projects that mitigate climate change, promote renewable energy, and support sustainable infrastructure (Yang et al., 2023).

Climate finance refers to local, national, or transnational financing—drawn from public, private, and alternative sources of financing—that seeks to support mitigation and adaptation actions that will address climate change (Bolton & Kacperczyk, 2021). Mechanisms such as green bonds have emerged as powerful tools in mobilizing private sector investment in climate-related projects.

The relationship between sustainable finance policies and economic growth is complex and multifaceted. Policies that promote green finance can lead to significant economic benefits, including job creation in renewable energy sectors, improved public health through reduced pollution, and enhanced energy security. However, the transition to a sustainable economy also presents challenges, such as the need for substantial upfront investments and the potential for short-term economic disruptions (Galeone, Ranaldo & Fusco, 2024; Starks, 2023).

Technological innovations are transforming the financial sector and creating new opportunities for sustainable finance. Fintech solutions, such as digital platforms for green investments and blockchain-based carbon trading systems, are enhancing transparency, reducing transaction costs, and increasing the efficiency of sustainable finance markets (Dionisio et al., 2023).

The aim of this special issue is to explore the transformative role of financial innovation in fostering a sustainable future. By focusing on the intersection of finance, sustainability, and economic growth, this issue seeks to provide a comprehensive examination of how innovative financial instruments, regulatory frameworks, and international collaborations can drive sustainable development. We aim to gather contributions that highlight cutting-edge research and practical insights into how the financial sector can address global challenges such as climate change, resource scarcity, and social inequality. Through this exploration, we aspire to inform and inspire policies, strategies, and practices that leverage financial innovation to achieve sustainable development goals and create resilient economies.

Objectives:

1. Explore International Financial Mechanisms:

Investigate the role of international financial institutions and agreements in promoting sustainable development.
Analyze the effectiveness of cross-border financial initiatives in supporting climate goals and economic growth.
2. Examine Climate Finance Strategies:

Assess the impact of climate finance on mitigating climate change and fostering sustainable development.
Evaluate the role of green bonds, carbon markets, and other innovative financial instruments in mobilizing resources for climate action.
3. Understand the Intersection of Finance and Sustainable Growth:

Investigate the relationship between sustainable finance practices and economic growth at both national and global levels.
Explore the role of financial policies and regulations in promoting sustainability and resilience in financial systems.
Topics:

The special issue is particular interested in, but not limited to, the following topics:

Role of Multilateral Development Banks (MDBs): Explore how MDBs like the World Bank and the Asian Development Bank are financing sustainable projects and the impact of these investments on regional development
Cross-border Investments: Analyze how foreign direct investment (FDI) and portfolio investments contribute to sustainable development and the conditions necessary for their success
International Financial Regulations: Examine the influence of international financial standards and agreements, such as the Basel III Accord, on promoting sustainability
Green Bonds: Study the growth and impact of green bonds in financing sustainable projects and their contribution to reducing carbon emissions
Carbon Trading Markets: Assess the effectiveness of carbon markets in reducing greenhouse gas emissions and their economic implications
Public and Private Sector Roles: Evaluate the collaborative efforts of the public and private sectors in mobilizing climate finance and the resulting outcomes
Sustainable Finance Policies: Investigate how national and international policies promoting green finance influence economic growth and stability
Financial Inclusion: Explore the role of financial inclusion in achieving sustainable development goals and promoting inclusive growth
Regulatory Frameworks: Analyze the effectiveness of regulatory frameworks in fostering sustainable investment and mitigating financial risks associated with climate change
National Strategies: Conduct comparative analyses of national strategies for sustainable finance, highlighting successful policies and initiatives
International Collaborations: Examine case studies of international collaborations in climate finance, identifying key success factors and challenges
Technological Innovations: Assess the impact of technological advancements, such as fintech and blockchain, on sustainable finance practices
Important deadlines

Submissions to the Special Issue due by 30th June 2025
Publication of the Special Issue in 30th June 2026
Submission Process

Authors are invited to submit original research articles, review papers, and case studies that align with the themes outlined above. Submissions should offer significant contributions to the field of sustainable and climate finance and provide insights that can inform policy and practice. Mention in the cover letter that the paper is for this SI and suggest a handling guest editor. 

Paper submissions will undergo rigorous editorial screening and double-blind peer review by a minimum of two recognized scholars. The standard requirements of Financial Innovation for submissions apply. Please consult the journal submission guidelines available at https://jfin-swufe.springeropen.com/submission-guidelines.

Guest Editors

Professor (Associate) Anna Min Du
Edinburgh Napier University, Edinburgh, UK
Email: a.du@napier.ac.uk
https://scholar.google.com/citations?user=wfDKamwAAAAJ&hl=en
ORCID: https://orcid.org/0000-0002-1715-8774
Area Editor: Research in International Business and Finance (SSCI Q1, ABDC B, ABS2, IF:6.5)
Youth Editorial Board Member: Financial Innovation
Guest Editor: Energy Economics (SSCI Q1, ABDC A*, ABS3, IF:12.8), Resources Policy (SSCI Q1, ABDC B, ABS2, IF:10.2), Research in International Business and Finance

Professor Brian M. Lucey
The University of Dublin Trinity College, Dublin, Ireland
Email: blucey@tcd.ie
https://scholar.google.com/citations?hl=en&user=WGptVJMAAAAJ
ORCID: https://orcid.org/0000-0002-4052-8235
Editor-in-Chief: International Review of Economics & Finance (SSCI Q1, ABDC A, ABS2, IF:4.5); Journal of Economic Surveys (SSCI Q1, ABDC A, ABS2, IF:5.3)
Development Editor: International Review of Financial Analysis (SSCI Q1, ABDC A, ABS 3, IF:8.2)

Professor Samuel A. Vigne
LUISS Business School, Viale Romania 32, 162, Roma, Italy
Email: samuel.vigne@luissbusinessschool.it
https://scholar.google.com/citations?hl=en&user=S5cB_dAAAAAJ
ORCID: https://orcid.org/0000-0003-1831-617X
Editor-in-Chief: International Review of Financial Analysis (SSCI Q1, ABDC A, ABS 3, IF:8.2); Finance Research Letters (SSCI Q1, ABDC A, ABS 2, IF:10.4)

References

Bolton, P. & Kacperczyk, M. (2021). Do investors care about carbon risk? Journal of financial economics, 142(2), pp.517-549. https://doi.org/10.1016/j.jfineco.2021.05.008
Dionisio, M., de Souza Junior, S.J., Paula, F. & Pellanda, P.C. (2023). The role of digital social innovations to address SDGs: A systematic review. Environment, Development and Sustainability, https://doi.org/10.1007/s10668-023-03038-x
Edmans, A., & Kacperczyk, M. (2022). Sustainable Finance. Review of Finance, 26(6), 1309-1313. https://doi.org/10.1093/rof/rfac069
Galeone, G., Ranaldo, S. & Fusco, A. (2024). EGS and Fintech, Are they connected, Research in International Business and Finance, 69, 102225. https://doi.org/10.1016/j.ribaf.2024.102225
Porter, P. & Kramer, M. (2011), Creating Shared Value: How to reinvent capitalism and unleash a wave of innovation and growth, Harvard Business Review.
Starks, L.T. (2023). Presidential Address: Sustainable Finance and ESG Issues – Value versus Values. Journal of Finance, 74(8), 1837-1872. https://doi.org/10.1111/jofi.13255
Yang, T., Sun, Z., Du, M., Du, Q. Li, L. & Shuwaikh, F. (2023). The impact of the degree of coupling coordination between green finance and environmental regulations on firms’ innovation performance: Evidence from China, Annals of Operations Research, https://doi.org/10.1007/s10479-023-05704-9

Geopolitical challenges in International Finance

The International Review of Financial Analysis is delighted to announce a special issue dedicated to the currently very relevant topic of geopolitical challenges in international finance.  This issue aims to foster a deeper understanding of how global political dynamics shape and are shaped by financial systems, policies, and markets.

The Bank of England includes geopolitical risk—together with economic and policy uncertainty—among an ‘uncertainty trinity’ that could have significant adverse economic effects (Carney, 2016). As Caldara and Iacoviello (2022) note, major institutions such as the ECB, IMF and the World Bank have all highlighted and monitored the risks to the outlook posed by geopolitical uncertainties. This risk has been shown to significantly affect corporate investment (Wang et al 2024), corporate tax avoidance (Haque et al 2023), capital flows (Feng et al 2023), stock market development (Khraiche et al 2023), crowdfunding (Alsagr et al 2023), cash holdings (Wang et al 2024) and payout policy (Adra et al 2023).Geopolitical events and trends profoundly impact the flow of capital, the stability of financial institutions, and the formulation of economic policies. This special issue seeks to address critical questions and offer insights into the challenges and opportunities presented by the intersection of geopolitics and international finance. Topics of interest include, but are not limited to:

• The impact of geopolitical conflicts on global financial stability and market dynamics.
• Economic sanctions and their implications for international finance.
• The evolving role of multilateral financial institutions in a polarized geopolitical landscape.
• The influence of emerging powers and regional alliances on global financial governance.
• Financial risks and opportunities in a world shaped by climate geopolitics.
• The role of digital currencies and fintech innovations in mitigating or exacerbating geopolitical tensions.
• Regulatory challenges and cross-border collaboration in an era of political fragmentation.

Guest Editors:

Lavinia Rognone – University of Edinburgh

Andrew Urquhart – University of Birmingham

Submission to Special Issue Deadline: 1/10/2025

Submission Process: Paper submissions will undergo rigorous editorial screening and double-blind peer review by a minimum of two recognized scholars.

References

Adra, S., Gao, Y., Huang, J., Yuan, J. (2023). Geopolitical risk and corporate payout policy. International Review of Financial Analysis, 87, 102613.

Alsagr, N., Cumming, D. J., David, J. G., Sewaid, A. (2023). Geopolitical risk and crowdfunding. Journal of International Financial Markets, Institutions and Money, 85, 101766

Caldera, D., Iacoviello, M. (2022). Measuring Geopolitical Risk. American Economic Review, 112, 1194-1225.

Carney, M. 92016). Uncertainty, the economy and policy. Bank of England https://www.bankofengland.co.uk/speech/2016/uncertainty-the-economy-and-policy.

Feng, C., Han, L., Vigne, S., Xu., Y. (2023). Geopolitical risk and the dynamics of international capital flows. Journal of International Financial Markets, Institutions and Money, 82, 101693.

Haque, T., Pham, T. P., Yang, J. (2023). Geopolitical risk, financial constraints, and tax avoidance. Journal of international Financial Markets, Institutions and Money, 88, 101858.

Khraiche, M., Boudreau, J. W., Chowdhury, M. S. R. (2023). Geopolitical risk and stock market development. Journal of International Financial Markets, Institutions and Money, 88, 101847.

Wang, X., Wang, M., Wu., H. (2024). Geopolitical risk and corporate cash holdings in China: Precautionary motive and agency problem perspectives. International Review of Financial Analysis, 93, 103235.

Wang, X, Wu, Y., Xu, W. (2024). Geopolitical risk and investment. Journal of Money, Credit and Banking, 56, 2023-2059.

The Journal of Economic Surveys is pleased to announce a special issue dedicated to the rapidly evolving fields of Climate, Sustainable, and Biodiversity Finance. This issue aims to bring together cutting-edge reviews and frameworks that explore the intersection of sustainable finance with critical global challenges such as climate change and biodiversity loss.

Special Issue Information

The accelerating challenges of climate change, biodiversity loss, and the transition toward sustainable economic systems have positioned climate, sustainable, and biodiversity finance as critical areas of academic and policy focus. This special issue seeks to explore the evolving frontiers of sustainable finance literature, emphasizing emerging themes and key research priorities.

Climate finance has emerged as a pivotal field for understanding how financial markets address the dual risks of physical climate impacts and the economic transitions required for decarbonization. The field examines financial innovations such as green bonds and climate-aware mutual funds, facilitating capital flows toward sustainable projects while mitigating systemic risks (Giglio et al., 2021; Long et al., 2022). The integration of climate risks into macroeconomic and asset pricing models highlights the multifaceted role of financial markets in managing climate-related uncertainties and fostering a low-carbon economy (Huang et al., 2024; Woode, 2024).

Sustainable finance addresses a broad spectrum of issues. Despite its rapid expansion, the field encounters significant challenges, including fragmented methodologies, a complex and heterogeneous regulatory framework across countries, and limited evidence on long-term social and environmental impacts (Cunha et al., 2021; Flammer et al., 2024). Literature highlights the need for interdisciplinary approaches to better align financial flows with the United Nations’ Sustainable Development Goals (SDGs) and to foster the development of innovative financial instruments (Wilke & Pyka, 2024).

Biodiversity finance, a relatively nascent domain within sustainable finance, focuses on mechanisms to mobilize private capital for biodiversity conservation and restoration and on managing and pricing the risks posed by biodiversity loss (Ma et al., 2024; Cherief et al., 2025; Coqueret et al., 2025; Li et al., 2025). Recent studies emphasize the role of blended finance, combining public and philanthropic funding to de-risk private investments and enhance their appeal to investors (Karolyi & Tobin-de la Puente, 2023). However, significant gaps remain in understanding how biodiversity risks affect financial markets and corporate outcomes. Moreover, structured knowledge is needed on the design of scalable instruments such as biodiversity credits and ecosystem restoration bonds (Hutchinson & Lucey, 2024; Cosma et al., 2023).

This special issue aims to consolidate insights from these interrelated domains, fostering an interdisciplinary dialogue that bridges theoretical advancements and practical applications. We invite contributions that critically and meta-review existing literature, propose novel frameworks, and identify actionable research directions to address the financing needs for a sustainable and resilient future.

This special issue aims to advance knowledge by encouraging submissions that critically review these fields and highlight emerging research directions. By consolidating insights, this issue seeks to provide a foundation for scholars to engage with the latest advancements and address the evolving challenges within climate, sustainable, and biodiversity finance.

Suggested Topics

This special issue invites submissions that critically review and synthesize emerging themes in climate finance, sustainable finance, and biodiversity finance. Potential areas of focus could include:

• Innovative risk integration: approaches to incorporating physical and transition risks into macroeconomic models and asset pricing frameworks, emphasizing the role of financial markets in mitigating climate risks and supporting decarbonization efforts.
• Development of financial instruments: evaluating the effectiveness and scalability of tools such as green bonds, biodiversity credits, ecosystem service bonds, and climate-conscious mutual funds in mobilizing capital toward sustainability goals.
• Financial consequences of green transition: review in-depth and critically the currently available knowledge regarding the economic and financial consequences of climate change and nature degradation, including analysis of direct and indirect impacts on key sectors, financial markets, and global economic policies.
• Blended finance for conservation: examining how blended finance structures can reduce private investment risks and attract capital for biodiversity restoration and climate adaptation projects, focusing on mechanisms that enhance risk-return profiles.
• Impact measurement and metrics: advancing methodologies to assess the long-term social and environmental impacts of sustainable investments and aligning financial practices with the United Nations’ Sustainable Development Goals.
• Natural capital: critically analyzing the monetization of ecosystem services and risks and opportunities posed by investing in natural capital.
• Policy and regulatory impacts: evaluating the effectiveness of international frameworks, such as the Paris Agreement and the Kunming-Montreal Biodiversity Framework, in mobilizing private capital and influencing financial markets.
• Innovations in traditional finance: Investigating new financial models that combine sustainability objectives with economic growth, emphasizing scalable solutions aligned with emerging global priorities.

Methodological Approaches

We encourage literature and meta-review submissions that adopt rigorous methodologies, including but not limited to (Paul & Criado, 2020):

• Systematic literature reviews: synthesizing existing studies to identify trends, gaps, and opportunities in climate, sustainable, and biodiversity finance (Wilke & Pyka, 2024).
• Framework-based analyses: utilizing or developing conceptual frameworks to structure the discourse and propose future research avenues (Baiardi, 2023;).
• Bibliometric Reviews: Mapping research clusters and analyzing the evolution of scholarly contributions in these fields to identify gaps and future directions (Palma et al., 2024).
• Hybrid reviews: combine bibliometric techniques with narrative frameworks to provide a multidimensional perspective on emerging trends​ (Bahoo et al., 2020)
• Theory-based reviews: focus on the role of specific theories within the sustainable finance literature, assessing their applications and proposing advancements​ (Huang et al., 2024).

Journal of Economic Surveys does not typically take "empirical led" papers. Papers should take, as can be seen from the methodological approaches listed, an overview, a broad perspective that aims to achieve a synthesis and consensus/gap analysis of an area.

We encourage the participants of the Conference on International Sustainable and Climate Finance, at the Edinburgh Napier University, Edinburgh, Scotland June 8-10 2025, to submit their high-quality and original review papers (www.ffea.eu) Although attendance at the conference is not mandatory it is highly recommended for paper authors.

Submission Guidelines

Manuscripts should follow the journal’s submission guidelines and formatting requirements. All submissions will undergo a rigorous peer-review process to ensure academic quality and relevance.

Important Dates:

• Submission Deadline: Submissions will open on 1-7-2025 and close 1-1-2026

ESG nd SRI Investment Challenges

We welcome papers that examine the above, in particular papers which address the following

• Global ESG Standardization: Increasing focus on creating global standards to measure ESG compliance across regions.
• Impact Measurement Tools: Development of sophisticated metrics and AI-driven analytics to assess the effectiveness of ESG strategies.
• Regulatory Frameworks: The role of international regulations in harmonizing ESG investment practices.
• Technological Innovations: Use of blockchain and AI to improve transparency and efficiency in ESG compliance.
• Ethical and Social Impacts: Growing emphasis on understanding the ethical imperatives driving sustainable investment.
• Measurement Challenges: Metric internal consistency, ML/AI aided metrics and market monitoring of metrics.

Guest Editors : Professor Janusz Brzeszczyński , Napier Univeristy and Professor Ailie Charteris, Univeristy of Cape Town

Submissions open 1-July-2025

Papers presented at the conference can be submitted for an expedited review.  This is a “no-fault” submission option, which means that if the journal decides to review the paper and rejects it, the author(s) can submit the paper through the normal submission process. Papers submitted must not be under review at any other journals.

Submissions will go through the normal review process. Authors should also mention in their cover letter that they are submitting their paper from this conference (so that it counts as a “no-fault” submission).  

The Conference Organising Committee will choose selected papers from those presented at the conference to be considered for publication at The Financial Review (FR). Within two months of the conference date, these papers will go through a blind review process. This is a “no-fault” submission option, which means that if the FR decides to review the paper and rejects it, the author(s) can submit the paper to the FR through the normal submission process. Papers submitted must not be under review at any other journals.

Submissions will go through the normal FR submission process (with a 1-time fee of $175). Authorsshould also mention in their cover letter that they are submitting their paper from this conference (so that it counts as “no fault” submission).