TY - JOUR
T1 - Decarbonising states as owners
AU - Babić, Milan
AU - Dixon, Adam D.
N1 - Funding Information:
This work was supported by the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation programmme: [grant number 758430]. We would like to thank Basil Bornemann, Louison Cahen-Fourot, Malcolm Fairbrother, Tobias Gumbert, Sandy Brian Hager, Daniel Hausknost, Peter Newell, Mat Paterson, two anonymous reviewers as well as the participants of the DVPW 2021, ISA 2022 and SASE 2022 conferences, the SECO research seminar at Roskilde University and the EPOSS seminar participants for valuable feedback on previous versions of this paper. This project has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation program (grant agreement number 758430).
Funding Information:
We would like to thank Basil Bornemann, Louison Cahen-Fourot, Malcolm Fairbrother, Tobias Gumbert, Sandy Brian Hager, Daniel Hausknost, Peter Newell, Mat Paterson, two anonymous reviewers as well as the participants of the DVPW 2021, ISA 2022 and SASE 2022 conferences, the SECO research seminar at Roskilde University and the EPOSS seminar participants for valuable feedback on previous versions of this paper. This project has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation program (grant agreement number 758430).
Publisher Copyright:
© 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
PY - 2023/7/4
Y1 - 2023/7/4
N2 - Environmental state debates focus on the governance and steering functions of politics. Concurrently, many states stand out as large global owners and investors in carbon industries. Via various investment vehicles, states control around half of all global oil and gas reserves as well as other carbon assets. We know very little, however, about where these states are invested; how they conduct their carbon investment; and what possibilities and constraints carbon-owning states have to decarbonise. Yet, these aspects–the geography, investment profiles and domestic state carbon capital dependence–are key to assess the possibilities and limitations of climate action states as carbon owners have. Based on new fine-grained firm-level data, we deliver conceptual and empirical insights into all three issues. Our intervention fills an important gap in our knowledge about the environmental state, while drawing the attention of researchers and policymakers to a blind spot, but also to transformation potentials of the carbon-owning state in the following decade.
AB - Environmental state debates focus on the governance and steering functions of politics. Concurrently, many states stand out as large global owners and investors in carbon industries. Via various investment vehicles, states control around half of all global oil and gas reserves as well as other carbon assets. We know very little, however, about where these states are invested; how they conduct their carbon investment; and what possibilities and constraints carbon-owning states have to decarbonise. Yet, these aspects–the geography, investment profiles and domestic state carbon capital dependence–are key to assess the possibilities and limitations of climate action states as carbon owners have. Based on new fine-grained firm-level data, we deliver conceptual and empirical insights into all three issues. Our intervention fills an important gap in our knowledge about the environmental state, while drawing the attention of researchers and policymakers to a blind spot, but also to transformation potentials of the carbon-owning state in the following decade.
KW - decarbonisation
KW - Environmental state
KW - foreign investment
KW - state capitalism
KW - state ownership
UR - http://www.scopus.com/inward/record.url?scp=85142865093&partnerID=8YFLogxK
U2 - 10.1080/13563467.2022.2149722
DO - 10.1080/13563467.2022.2149722
M3 - Article
AN - SCOPUS:85142865093
SN - 1356-3467
VL - 28
SP - 608
EP - 627
JO - New Political Economy
JF - New Political Economy
IS - 4
ER -
