Multinational enterprises and climate action: a low-income perspective with Africa focus

• 成果类型: Editorial Material
• 署名作者: Senbet, Lemma W.
• 署名单位: University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/s41267-024-00764-w
• 发表日期: 2025
• 页码: 481-490
• 关键词: MNE; Multinational banks; MNE climate action; Low-income green economy; Africa green economy; Climate finance; Green economy development finance; capital flight; MNE resources; institutions

摘要

Multinational enterprises (MNEs) can be agents of positive climate action by deploying their vast resources, technology, capital, and collaborative partnerships. They can also promote cross-border mobility of corporate governance and regulatory standards. Allen et al. (J Int Bus Stud, 2024) provide a systematic descriptive analysis to support such an MNE role. In my commentary, I provide a perspective from low-income countries, particularly Africa. Although they face disproportionate climate impact, these economies possess abundant clean energy resources. I discuss the potential of MNEs to help unlock the value associated with these resources. On the financing side, MNE banks can deploy their technology and resources to promote climate finance startups. They can also play a role in public-private partnerships to unlock private capital at scale for low-income countries. Allen et al. focus on the bright side of the MNEs in climate action. I expand my commentary to provide a balanced view and discuss the dark side with a focus on Africa. In particular, I highlight the role of MNE banks in rapid sovereign debt build-up and difficulties in debt restructuring. Further, I discuss the role of MNEs in capital flight. Successful debt distress resolutions and curbing capital flight can free up resources for green financing.