Sustainable Financial Instruments in the Water Sector: an Approach from North Brazilian Communities

Beltran, Macarena; Torres Zapata, Isabel; Dias, Rayla; Park, Jin; Dos Santos, Ticiane

Abstract

Green bonds aim to align financial returns with environmental impact, yet their evaluation remains dominated by conventional financial risk models, reflecting tensions between market and impact logics. Drawing on extended Institutional Logics Theory, this study expands impact logic to incorporate local community engagement in water infrastructure governance. Based on 14 expert interviews and a participatory workshop in Belém, Pará (Brazilian Amazon), findings reveal significant socio-environmental pressures, including river degradation, contamination, weak monitoring, and deficits in drinkable water and sanitation, despite regional water abundance. Limited community inclusion in infrastructure decision-making undermines impact credibility. Integrating bottom-up engagement into impact risk evaluation can reduce socio-environmental uncertainty, strengthen legitimacy, and improve conditions for utilities to mobilise green bond instruments in underserved regions

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Developmental Paper

Primary Track

Sustainable and Responsible Business

Keywords

responsible business;CSR;grounded theory;interviews;focus groups

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Sustainable Financial Instruments in the Water Sector: an Approach from North Brazilian Communities

Abstract

Please choose your submission type

Primary Track

Keywords