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dc.contributor.authorBanhalmi-Zakar, Zsuzsa
dc.date.accessioned2019-03-06T02:36:14Z
dc.date.available2019-03-06T02:36:14Z
dc.date.issued2016
dc.identifier.issn0729-3682
dc.identifier.doi10.1080/07293682.2016.1179657
dc.identifier.urihttp://hdl.handle.net/10072/123764
dc.description.abstractFinancial 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.
dc.description.peerreviewedYes
dc.languageEnglish
dc.publisherRoutledge
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto11
dc.relation.ispartofjournalAustralian Planner
dc.subject.fieldofresearchUrban and Regional Planning not elsewhere classified
dc.subject.fieldofresearchEnvironmental Science and Management
dc.subject.fieldofresearchUrban and Regional Planning
dc.subject.fieldofresearchcode120599
dc.subject.fieldofresearchcode0502
dc.subject.fieldofresearchcode1205
dc.titleThe impact of bank lending on the environmental outcomes of urban development
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Sciences, Griffith School of Environment
gro.description.notepublicThis publication has been entered into Griffith Research Online as an Advanced Online Version.
gro.hasfulltextNo Full Text
gro.griffith.authorBanhalmi-Zakar, Zsuzsa


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