{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,24]],"date-time":"2026-06-24T05:24:30Z","timestamp":1782278670503,"version":"3.54.5"},"reference-count":56,"publisher":"MDPI AG","issue":"2","license":[{"start":{"date-parts":[[2021,1,19]],"date-time":"2021-01-19T00:00:00Z","timestamp":1611014400000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Sustainability"],"abstract":"<jats:p>I observe that the sustainable finance landscape as it stands today is featured by an overabundance of heterogeneous concepts, definitions, industry and policy standards. I argue that such heterogeneity may hinder the smooth development of the conceptual thinking underpinning sustainable finance and originates specific risks that may harm the credibility of the nascent market. These risks include green and sustainable washing, the rebranding of financial flows without additionality, the disordered adjustment in the cost of capital spreads between industries. I argue that to reflect the actual industry and policy context as wells as to steer conceptual and applied practice sustainable finance should be today referred to as \u201cfinance for sustainability\u201d. To this extent, both its definition and implementing standards should make clear reference to the relevant sustainability dimensions (in particular in line with the Sustainable Development Goals and the Paris Agreement) and to the sectors or activities that positively contribute to these dimensions.<\/jats:p>","DOI":"10.3390\/su13020975","type":"journal-article","created":{"date-parts":[[2021,1,21]],"date-time":"2021-01-21T00:53:41Z","timestamp":1611190421000},"page":"975","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":170,"title":["What Do We Mean by Sustainable Finance? Assessing Existing Frameworks and Policy Risks"],"prefix":"10.3390","volume":"13","author":[{"given":"Marco","family":"Migliorelli","sequence":"first","affiliation":[{"name":"European Commission, 1049 Brussels, Belgium"},{"name":"Sorbonne Business School, Universit\u00e9 Paris 1 Panth\u00e9on-Sorbonne, 75013 Paris, France"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"1968","published-online":{"date-parts":[[2021,1,19]]},"reference":[{"key":"ref_1","unstructured":"International Capital Market Association (ICMA) (2018). Green Bond Principles. Voluntary Process Guidelines for Issuing Green Bonds, International Capital Market Association."},{"key":"ref_2","unstructured":"International Capital Market Association (ICMA) (2020). Social Bond Principles. Voluntary Process Guidelines For Issuing Social Bonds, International Capital Market Association."},{"key":"ref_3","unstructured":"International Finance Corporation (IFC) (2017). 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