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  • The impact of bank lending on the environmental outcomes of urban development

    Author(s)
    Banhalmi-Zakar, Zsuzsa
    Griffith University Author(s)
    Banhalmi-Zakar, Zsuzsa
    Year published
    2016
    Metadata
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    Abstract
    Financial institutions play an important role as financiers of development, yet little is known about the key players; what processes they employ, how they make decisions and whether the environmental outcomes of development feature in finance decisions. This paper provides some answers as to how banks perceive and deal with the environmental impacts of development drawing on the literature and a case study of development lending practices in Australia and Europe, in the pre-Global Financial Crisis era. The banks studied financed a diverse range of residential, commercial, and industrial, transport and social infrastructure ...
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    Financial institutions play an important role as financiers of development, yet little is known about the key players; what processes they employ, how they make decisions and whether the environmental outcomes of development feature in finance decisions. This paper provides some answers as to how banks perceive and deal with the environmental impacts of development drawing on the literature and a case study of development lending practices in Australia and Europe, in the pre-Global Financial Crisis era. The banks studied financed a diverse range of residential, commercial, and industrial, transport and social infrastructure developments through different schemes. The schemes used determined if and how environmental issues translated into financial risks and opportunities and impacted finance decisions. The banks relied heavily on development/planning or environmental approvals as well as assessments by non-environmental experts. Delays in obtaining approvals posed a significant risk to financiers and, consequently, to developers. Exposure to reputational risk was a major concern for the Australian bank, but fines for breaching environmental regulations were not regarded as a threat. Several recommendations are made to planning and environmental practitioners, regulators and banks on advancing practices that could improve environmental outcomes of urban development.
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    Journal Title
    Australian Planner
    DOI
    https://doi.org/10.1080/07293682.2016.1179657
    Note
    This publication has been entered into Griffith Research Online as an Advanced Online Version.
    Subject
    Urban and Regional Planning not elsewhere classified
    Environmental Science and Management
    Urban and Regional Planning
    Publication URI
    http://hdl.handle.net/10072/123764
    Collection
    • Journal articles

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