The Paris Climate Agreement, Sustainable Development Goals and Addis Ababa Action Agenda call for the financial system to be “consistent and integrated” in its response to the sustainability and climate breakdown. Sustainability transitions research (STR) and orthodox finance literature are failing to engage with these calls. This paper offers three contributions to address this issue. Firstly, it scopes the sustainability-related finance literature and finds broad but fragmented research strands with limited critical analysis and little cross-engagement with STR. Secondly, the paper draws on insights from STR and international climate and sustainable development agreements to propose a transition demand framework that characterises the explicit demands that sustainability transitions place on the financial system (understood as intermediaries, markets and infrastructure). Thirdly, the paper considers essential design features for financial systems to meet the specific demands of sustainability transitions and identifies critical questions for broadening research in this area.

《巴黎气候协定》，《可持续发展目标》和《亚的斯亚贝巴行动议程》呼吁金融体系在对可持续性和气候崩溃的应对中“保持一致和一体化”。可持续性转型研究（STR）和正统的金融文献未能满足这些要求。本文为解决这个问题提供了三点贡献。首先，它研究了与可持续发展相关的金融文献，并发现了广泛但零散的研究链，这些研究链的关键分析有限，与STR的交叉参与也很少。其次，本文借鉴STR和国际气候与可持续发展协议的见识，提出了一个过渡需求框架，该框架表征了可持续发展过渡对金融系统的明确要求（可以理解为中介，市场和基础设施）。第三，本文考虑了金融系统的基本设计特征，以满足可持续发展转型的特定需求，并确定了扩大该领域研究的关键问题。