The construction of accountability mechanisms to mobilise a climate-related financial flow

Raeni, Raeni ORCID: 0000-0002-9645-4634 (2023). The construction of accountability mechanisms to mobilise a climate-related financial flow. University of Birmingham. Ph.D.

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Abstract

This research seeks to understand and explain how the global climate action agenda was translated into accounting objects connected with a specific financial instrument designed to mobilise financial flows to public sector projects that tackle climate change. This thesis examines a case study of the construction of accountability mechanisms for Indonesia’s sovereign green sukuk, a Sharia-compliant alternative to fixed-income instruments purposed for environmental objectives. Drawing upon the notion of the programmatic rationalities and technology of government (Rose and Miller, 1992) alongside a framework on the constitutive role of accounting in territorialising, mediating, subjectivising and adjudicating (Miller and Power, 2013), the framework facilitates explaining how the productive force of accounting can be effectively performed to organise and economise climate change in a governable field.

This thesis contributes to advancing accounting infrastructures to formulate accounting objects that embed proposed material outcomes. This study discovers the novel application of climate tags — tagging, tracing, and earmarking — that have been discursively constructed to mediate between transparency and traceability, territorialise climate accounts in the public accounting system, and adjudicate green impact measurements. Moreover, this thesis introduces enabling and constraining attributes to accelerate or restrain financial flows through subjectivising accounting objects. Nevertheless, the productive forces of accounting are prevalent in the organisation of the climate change agenda, while limited evidence can be observed in the economisation pathway. In addition, this thesis urges the demand for traceable climate-related material outcomes in every green or labelled financial instrument with similar characteristics to achieve transformative impacts in combating climate change.

Type of Work:

Thesis (Doctorates > Ph.D.)

Award Type:

Doctorates > Ph.D.

Supervisor(s):