ABSTRACT

Sustainable finance has received increasing attention over the last years. Nonetheless, the meaning of the term remains ambiguous. This article approaches this ambiguity by understanding sustainable finance as a contested concept, whose meaning has been subject to varying interpretations. To map these interpretations, the article offers an inductive analysis of the network of actors that concern themselves with sustainable finance. Actors’ competing interpretations of sustainable finance can be conceptualised as frames. Using network analysis and interviews I identify five frames that are present in three periods between 1998 and 2018. Distinct communities advance a Socially Responsible Investment frame, a risks and opportunities frame, a climate finance frame, a critical frame and an integrated frame. Describing the emergence of these frames, their position in the network and their relations to each other can add to our understanding of sustainable finance as it complements existing authoritative classifications and histories of the topic.

摘要

近年来，可持续金融受到越来越多的关注。尽管如此，该术语的含义仍然含糊不清。本文通过将可持续金融理解为一个有争议的概念来解决这种模糊性，其含义一直存在不同的解释。为了映射这些解释，本文对关注可持续金融的参与者网络进行了归纳分析。参与者对可持续金融的相互竞争的解释可以被概念化为框架。通过网络分析和访谈，我确定了 1998 年至 2018 年三个时期存在的五个框架。不同的社区提出了社会责任投资框架、风险和机遇框架、气候金融框架、关键框架和综合框架。描述这些框架的出现，