<p>This paper introduces the special issue of the <i>Journal of Financial Services Research</i> titled “Social and Environmental Financial Services: Where do we Stand?” which highlights recent advancements in social and environmental finance. We draw on five contributions that collectively expand our understanding of how targeted financial interventions, disclosure practices, and regulatory frameworks affect inclusion, firm performance, and sustainability. The social finance papers emphasize the importance of microfinance “plus” services, subsidized lending, and tax incentive programs in increasing access to financing and promoting development. The environmental finance papers examine how banks’ environmental disclosures and the European Union Taxonomy affect credit allocation and pricing. By bridging the social and environmental dimensions, this introduction outlines the emerging challenges, regulatory shifts, and directions for further research to create more integrated and impact-oriented financial services.</p>

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Social and Environmental Financial Services: Where Do We Stand?

  • Anastasia Cozarenco,
  • Steven Ongena

摘要

This paper introduces the special issue of the Journal of Financial Services Research titled “Social and Environmental Financial Services: Where do we Stand?” which highlights recent advancements in social and environmental finance. We draw on five contributions that collectively expand our understanding of how targeted financial interventions, disclosure practices, and regulatory frameworks affect inclusion, firm performance, and sustainability. The social finance papers emphasize the importance of microfinance “plus” services, subsidized lending, and tax incentive programs in increasing access to financing and promoting development. The environmental finance papers examine how banks’ environmental disclosures and the European Union Taxonomy affect credit allocation and pricing. By bridging the social and environmental dimensions, this introduction outlines the emerging challenges, regulatory shifts, and directions for further research to create more integrated and impact-oriented financial services.