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Green Securitization, A Legal Structure Currently Unfit for Ecological Transition

Pascale Cornut St-Pierre & Jasmine Gareau-Lindsay

Accounting, Economics and Law – A Convivium2025https://doi.org/10.1515/ael-2024-0003article
AJG 2ABDC B
Weight
0.50

Abstract

Ever since the 2007–2008 financial crisis, the European banking sector and its regulating authorities have been seeking to revive securitization markets in Europe. The most recent attempt in this direction is the inscription of green securitization in the European sustainable finance agenda. Building on Katharina Pistor’s work on the legal coding of capital as well as Eve Chiapello’s work on financialization as a socio-technical process, our proposed contribution focuses on the legal structuring of green securitization. Based on the legal documentation and sustainability frameworks of four recent green securitization deals tied to energy-efficiency home improvements, it critically examines the new kind of financial circuits that is being constructed to channel funds towards projects deemed to create positive impacts on the environment. Our analysis shows that green securitization’s current legal structure fails to properly incorporate sustainability considerations, whether in its contractual terms, financial metrics, or parties involved.

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https://doi.org/https://doi.org/10.1515/ael-2024-0003

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@article{pascale2025,
  title        = {{Green Securitization, A Legal Structure Currently Unfit for Ecological Transition}},
  author       = {Pascale Cornut St-Pierre & Jasmine Gareau-Lindsay},
  journal      = {Accounting, Economics and Law – A Convivium},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1515/ael-2024-0003},
}

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Green Securitization, A Legal Structure Currently Unfit for Ecological Transition

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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