Open AccessFraming Sustainable Finance: A Critical Analysis of Op-eds in the Financial Times
Author(s) -
Nadine Strauß
Publication year - 2021
Publication title -
international journal of business communication
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.392
H-Index - 53
eISSN - 2329-4892
pISSN - 2329-4884
DOI - 10.1177/23294884211025982
Subject(s) - finance , leverage (statistics) , framing (construction) , economics , investment banking , sustainability , financial crisis , business , financial market , financial system , ecology , macroeconomics , structural engineering , machine learning , computer science , engineering , biology
Being at the forefront in the public discussion about sustainable finance (SF) has become a competitive advantage for financial corporations. This study investigates op-eds by representatives of major global investment banks and asset managers (Black Rock, Goldman Sachs, HSBC, Morgan Stanley, UBS) published between 2018 and 2019 in the Financial Times regarding SF. Using an in-depth textual analysis approach, five overarching frames emerged: (1) climate crisis consensus and the urgency to act, (2) sustainable finance as powerful leverage, (3) sustainability in the name of profit and capital growth, (4) need for transparency, quantification, and datafication, and (5) shifting responsibilities. The results imply that SF is used as a public relations tool to promote new, lucrative financial activities that fit within the prevailing neoliberal market model. Rather than providing alternatives to the prevailing financial markets, the investment industry shifts responsibilities to the government, businesses and individuals to fight climate change.