Artificial Intelligence, Finance, and Sustainability
Editors: Walker, T., Gramlich, D., & Sadati, A.
As the world increasingly recognizes the importance of sustainability, businesses and investors are looking for ways to integrate sustainable practices into their operations and investment decisions. At the same time, advancements in artificial intelligence (AI) and technology are transforming the finance industry and are enabling more data-driven decision-making. The intersection of these fields presents a significant opportunity to accelerate progress towards a more sustainable future, while also improving financial performance. In fact, AI has the potential to enhance the effectiveness of sustainable practices by facilitating the analysis of large and complex datasets, identifying previously unrecognized patterns, and providing more accurate and timely predictions. This book will explore the crucial role of AI in sustainability and finance, examining how financial technologies and machine learning are shaping the approach of finance professionals towards environmental, social, and governance (ESG) issues. By focusing on the practical implications of these intersections, the book aims to provide valuable insights for practitioners, policymakers, academics, and students alike.
What makes “AI, Finance, and Sustainability” distinctive is its approach to the subject matter. Unlike prior publications, which typically focus on AI or sustainable finance in isolation, this book provides a comprehensive and integrated perspective on how these areas are becoming increasingly intertwined. The book examines the ethical and social implications of AI in finance and its potential to unlock new opportunities for sustainability. The educational features of the book, such as case studies and expert analysis, provide readers with a deep understanding of the topic and how it can be applied in practice. Financial institutions and other entities can benefit from the book’s practical guidance on how AI can be leveraged to promote sustainability in finance, making it a valuable resource for professionals looking to make a positive impact in their field. Additionally, the book’s comprehensive coverage of the latest developments in the field of AI and sustainability will enable readers to stay ahead of the curve and make informed decisions about how to integrate these concepts into their operations. Academics and researchers will also benefit from the book’s clear and concise organization, which facilitates easy comprehension and enables readers to stay up to date with the latest developments in the field.
View Call for Submission
The Fintech Revolution: How Financial Innovations Transform the Banking Industry
Editors: Walker, T., Nikbakht, E., & Kooli, M.
Since the turn of the century, emerging technologies such as artificial intelligence, blockchains, cloud computing, big data, and the Internet of Things (jointly often referred to as ABCDI) have developed rapidly. These technologies have a pronounced effect on the financial industry and have led to a series of so-called Fintech innovations that are likely to revolutionize the way banks and other financial institutions conduct their business. The Financial Stability Board, market supervisors, regulators, and various other academic and financial industry entities are increasingly pointing to the opportunities and risks Fintech innovations present to the financial industry.
Our book aims to provide both practice-oriented and academic insights into the disruptive power of Fintech for the banking industry. It will explore (1) whether and how the banking industry can use newly emerging technologies in the financial sphere to its advantage while managing any associated risks, (2) how these technologies affect traditional banking service formats as well as the pricing of these services, and (3) whether the emergence of Fintech in the banking industry calls for a rethinking of existing banking regulations such as the Basel Accords as well as country- specific regulations.
Prior publications in this area typically examine both current applications of Fintech in the banking industry, as well as its future prospects, by analyzing actual cases or exploring the impact of a single emerging technology on the banking industry. They often ignore the interdependence between emerging technologies and overlook the connection between Fintech as a whole and the future of the banking industry. Our book aims to address this gap in the literature by providing a comprehensive overview of various Fintech applications and analyzing what they mean for the future of banking. It purposefully takes both a practitioner-oriented and academic approach to feature the insights provided by experts in both of these areas. Given the potentially disruptive power of Fintech, the book will focus on the challenges banking supervisors are likely to encounter because of Fintech’s continual ascent and possible ways to find a balance between the beneficial aspects of Fintech and the challenges it creates in terms of supervision, regulation, and risk management.
View Call for Submission
Sustainable Tourism: Frameworks, Practices, and Innovative Solutions
Editors: Walker, T., Machnik-Kekesi, G., Vico, K., & Grimm, D.
The tourism industry is “among the largest industries in the world” (Zolfani et al., 2015). While the relative importance of the industry varies depending on the country, area, and even region, it is an essential part of business and the economy internationally; it accounted for 10.4% of global GDP (US$9.2 trillion) in 2019. While the tourism industry provides economic and social benefits and has the potential to contribute to sustainable development through job creation and economic redistribution, it also has many serious and problematic side effects. Uncontrolled conventional tourism threatens natural areas through increased pollution, natural habitat loss, and pressure on natural species. In addition, a higher number of tourists than what is sustainable can lead to strains on water and other resource availability and therefore force populations to compete for these resources (Camarda et al., 2003). Finally, conventional tourism can affect local populations through price increases that reflect adjustment due to the influx of tourist income, the lack of rental availability due to the prioritization of short-term seasonal accommodations, and globalization’s effects on cultural traditions. Sustainable tourism offers a solution. This type of tourism makes optimal use of environmental resources, maintains essential processes, and helps conserve natural heritage and biodiversity.
Moreover, it respects the socio-cultural heritage of local communities, contributes to inter- cultural understanding and tolerance, and ensures long-term economic operations by providing fairly distributed economic benefits among all participants (UNWTO, 2021). Therefore, by promoting and developing effective sustainable tourism measures we can not only limit the negative impacts associated with touristic travel, but also find ways to conserve and perhaps even rebuild this important industry in a way that respects social standards, economic diversity, and environmental preservation.
Now more than ever, there is a need for designing and implementing concrete strategies for a world in which tourism practices are sustainability-minded, not only to rescue this key industry from the devastating effects of the COVID-19 pandemic, but also to limit the effects that it has on pollution, climate change, and at-risk populations. Achieving this goal will require innovations that can help us synchronously adapt to committed change as well as shift our planning processes and alter our behaviors. This book aims to ignite an academic discussion regarding necessary, and urgent, adaption and mitigation strategies. It addresses a range of areas such as tourism management, economics, political science, finance, business, and sustainability.
What makes the book’s focus particularly timely is that due to COVID 19, the tourism industry has significantly changed and is placing considerably more attention on environmental safety and social well-being than it used to before the pandemic. To the best of our knowledge, no book has considered newly developing opportunities and risks for the sustainable tourism industry both in the context and the aftermath of the pandemic.
View Call for Submission
Sustainability in the Oil & Gas Industry
Editors: Walker, T., Barabanov, S., Michaeli, M., & Kelly, V.
The push for sustainability in the oil and gas sector has taken center stage in both climate action debates and mitigation/adaptation efforts in past decades.
Numerous publications, reports, books, and conventions have presented, analyzed, and compared the actions and strategies taken by governments, non-governmental organizations, and the private sector – all in hopes of curbing both the direct emissions linked to the exploration, production, transportation, and refining of carbon fuels as well as the emissions stemming from their eventu- al use. Extant reports and studies discuss specific scenarios tied to the oil and gas industry such as flaring, water usage, methane emissions, plastics waste and recycling, greenhouse gas emis- sions, and carbon reduction, which also offer insights into substitute products including alterna- tive sources of energy in, e.g., the utility and transportation sector.
Sustainability in the Oil & Gas Industry is a forthcoming edited collection that will explore the unique risks, opportunities, challenges, and societal implications associated with the oil and gas industry, both for today and for the future. It will explore the realities of the energy sector within corporations unwilling to shift towards sustainable practices, and those adopting sustainable practices while experiencing their limitations.
The collection aims to investigate the readiness of businesses and policies in adapting to climate change, among other related public pressures, and to assess strategies that move beyond the current incremental approaches. The latter requires ana- lyzing the trajectories that are needed for businesses and policies to attain mitigation targets in the timeline mandated by the United Nations’ 2030 Agenda.
View Call for Submission
Financing Nature’s Future: A Comprehensive Guide to Biodiversity Finance
Editors: Walker, T., Naffa, H., Kumar Tharumar, R., & Donders, S.
Financing Nature’s Future offers a pioneering exploration of the financial, operational, and societal impacts stemming from biodiversity loss and associated ecosystem collapse. In addition, it examines possible venues through which corporations, financial institutions, and regulators can slow down or halt biodiversity loss. The book stands out for its comprehensive coverage, delving into the various facets of biodiversity loss, including its effects across industries, risk assessment strategies, investment opportunities, policy landscapes, corporate responses, and future outlooks. Unlike prior publications in this area, this book bridges theory and practice by grounding its content in real-world examples and case studies, illustrating how biodiversity loss directly affects industries, economies, and financial systems globally.
The book meets a range of needs, catering to professionals seeking to integrate biodiversity considerations into financial decision-making processes, policymakers crafting effective conservation policies, investors aligning their portfolios with sustainability goals, educators teaching about the intersections of ecology and economics, and concerned citizens eager to understand the broader implications of biodiversity loss. By combining its comprehensive coverage, real-world relevance, strategic organization, educational features, and ability to meet diverse needs, Financing Nature’s Future serves as an indispensable resource for those committed to fostering both environmental stewardship and financial sustainability in an increasingly interconnected world.
View Call for Submission