Environmental, social, and governance (ESG) funds are among the fastest-growing investment styles. ESG investing thereby has a governing effect, and a key open question is whether ESG merely reduces risks for investors or whether it can have a sustainability impact and actively contribute to...

Environmental, social and governance (ESG) funds are among the fastest growing investment styles. ESG funds can be used either to only mitigate risk (input ESG) or to go beyond that to create impact (output ESG). We argue that the governance by ESG is characterised by three potential...

Critical macro-finance (CMF) has become an influential avenue of research aimed at shedding light on how the global payments system is governed. In the introduction to this special forum on CMF, we explore three main themes: (1) the intellectual lineage of CMF and its relation to...

The global financial system is the economic bedrock of the contemporary liberal economic order. Contrary to other global-economy areas, finance is rarely analyzed in discussions on contestations of economic liberalism. However, a quite comprehensive process of external contestation of the global...