H2020Индивидуална стипендия2022–2024

JUCLFUT · Towards a Just Climate Future? Urban sustainability, financialization, and the global housing crisis

„Хоризонт 2020“ — Действия „Мария Склодовска-Кюри“

Период: 2022-03-11 → 2024-03-10
Финансиране от ЕС: 224 934 €
Участници: 1
Схема: MSCA-IF

Линиите свързват координатора с партньорите.

Накратко на български

Финансирането на жилища чрез пенсионни фондове се анализира чрез конкретни „зелени“ сгради. Това помага да се разбере дали инвестициите за климата застрашават правото на хората на достълно и безопасно място за живеене.

Този кратък обзор е генериран от изкуствен интелект

Кратко обяснение, генерирано от езиков модел по текста на CORDIS. Оригиналът е по-долу.

Резултати накратко

Towards a Just Climate Future? Urban sustainability, financialization, and the global housing crisis

The financialization of housing is recognized as a driver of the global housing crisis which impedes the human right to safe, adequate, and affordable shelter. Financialization describes the process of treating housing as a financial asset, valued primarily as a profit-generating investment, at the expense of its role as a key infrastructure supporting daily life and social reproduction. While finance has long been involved in the development of housing and housing systems, the term financialization describes structural changes in capitalism since roughly the 1970s, particularly concerning how, where, and by whom profits are realized through economic activity. As local and national governments across the Global North have divested themselves from building and maintaining social and public housing, private investment has taken increased prominence in countries like the UK which once had vibrant state-supported housing sectors. Thus, the provision and financing of housing infrastructure involves a complex array of actors including asset management firms, real estate investment trusts (REITs), pension and sovereign wealth funds, and insurance companies among others. Recognizing that different kinds of financial entities have different social and legal bases of action, the specific objectives of the JUCLFUT project were to (1) understand the relationship between pension fund investing and urban sustainability issues, through an investigation of the social effects of specific green housing projects financed by pension capital; (2) assess the extent to which these investments are addressing climate objectives in a manner which also respects the internationally recognized human right to safe, adequate and affordable housing. The research concludes that the social effects of green housing projects are significant, complex, and require further research.

Текст от CORDIS, на английски · Данни: CORDIS, © Европейски съюз

Цел на проекта

Climate change is a complex problem that requires solutions that reach across the boundaries between local and global and economic and ecological spheres of policy and everyday life. The challenge of ensuring that the benefits and burdens of transitioning to a carbon neutral future are equitably distributed within and across communities is thus one of the most pressing currently facing humanity. Pensions have recently emerged as key actors in the pursuit of “green” investment, due to their fiduciary duties and the sensitivity of physical assets to political, regulatory and environmental effects of climate change (Government of Canada, 2018; Gold and Scotchmer, 2015; OPTrust, 2018; Mercer, 2018). At the same time, their involvement in the financialization of housing (e.g. turning housing into a pure commodity, severed from its social function as shelter) is exacerbating the global housing crisis, making it increasingly difficult for growing numbers of people to access their human rights to shelter (August, 2019; Farha, 2019; Parish, 2019b). Furthermore, even while COVID-19 has made the right to housing all the more urgent, the economic fallout from the pandemic is exacerbating the crisis as growing numbers of people are now at risk of mortgage default and eviction. This project therefore investigates the social effects of specific green housing projects financed by pension capital in order to assess the extent to which these investments are addressing climate objectives in a manner which also respects the internationally recognized human right to safe, adequate and affordable housing, and conforms to the imperative of a just transition, as defined by the EU as one which is “inclusive for all” and where “no person or place is left behind”. The central Research Question this project will answer is: What are the social and gendered effects of pension backed investments in green housing infrastructure on households and communities?

Оригинален текст от CORDIS (на английски).

Участници

DE MONTFORT UNIVERSITY · LeicesterКоординаторОбединеното кралство