We are delighted to announce our next webinar on “Sustainable finance and the design of ESG securities”. 

The event will take place on Tuesday, 2nd March, 2.30-4 pm GMT. 
 
The speaker, Mr. Gustavo Grebler, is a partner at Grebler Advogados, Brazil. He also acted as legal head of a financial institution, is a fellow of the Max Planck Institute für Internationales und Privatrecht, and a legal scientist for the Sustainable Architecture for Finance in Europe - SAFE, now Leibniz Institut. He has published and lectured in the fields of Corporate Governance and Corporate Law as well as contributing to the draft of the Directive on Corporate Takeovers issued by the Brazilian Institute of Corporate Governance (IBGC). 

 

Abstract 

Aside from laudable ethical values, sustainable finance is really about mitigating negative externalities and placing economic costs on the shoulders of the agents who created them. So far, such costs have been partially regarded as non-excludables, i.e. devolving on the social group given the impracticability of their allocation onto individual members. Producers are responsible for 100% of the manufacturing process output, subdivided into products, waste and second-order environmental impact, and bear less than 100% of the costs. Taxpayers, as a class, take no part in the manufacturing and bear whatever part of the cost not picked up by producers. It is easy to see that taxpayers subsidize producers insofar as the costs of monitoring, cleaning, physical reparation, medical treatment, and medical facilities, to name a prominent few. It is Pareto efficient to measure the tax burden and move taxation from ex post redress to ex ante transfers to producers and debt holders proportionally to their contribution to the reduction of the negative externalities. It is likewise efficient to establish primary and secondary intermarkets for the trading of ESG securities price sensitive to producers’ deviation from predetermined targets. International coordination and transnational market regulations are called for. 

 

The presentation will be followed by Q&A. 

Please find the joining details below. Registration is not required. 

 

Topic: CFL Presentation - Mr. Gustavo Grebler 

Time: Mar 2, 2021 02:30 PM London 

  

Join Zoom Meeting 

https://uofglasgow.zoom.us/j/98068682691?pwd=TFB5elhTNDMvd1lLdHRweU1ZS1lNQT09 

  

Meeting ID: 980 6868 2691 

Passcode: 255055 

 

The recordings of the webinar will be circulated shortly after the event through our usual social media channels. 

We look forward to seeing you there!  

 

First published: 22 February 2021

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