BOOK - A Framework for Sustainable Finance

From Risk to Opportunity

A booklet by Dutch Professor of Banking and Finance, and member of Brussels based economic think tank Bruegel, Dirk Schoenmaker. He describes the shift to an improved economic system: one where long-term and the interest of society as a whole are the main focus.  

"From Risk to Opportunity: A Framework for Sustainable Finance presents the switch from traditional finance to sustainable finance. While financial institutions have started to avoid unsustainable companies from a risk perspective (Sustainable Finance 1.0 and 2.0), The frontrunners are now increasingly investing in sustainable companies and projects to create long-term value for the wider community (Sustainable Finance 3.0). Major obstacles to sustainable finance are short-termism and insufficient private efforts. To overcome these obstacles, the booklet develops guidelines for governing sustainable finance."

From Risk to Opportunity: A Framework for Sustainable Finance


Schoenmaker, Dirk, From Risk to Opportunity: A Framework for Sustainable Finance (September 20, 2017). RSM Series on Positive Change, Volume 2 (2017). Available at SSRN:

About the author

Dirk Schoenmaker is Professor of Banking and Finance at the Rotterdam School of Management, Erasmus University Rotterdam. He is also a Senior Fellow at the Brussels-based think tank Bruegel, a Research Fellow at the Centre for European Policy Research (CEPR), and a member of the Advisory Scientific Committee of the European Systemic Risk Board at the ECB.

His research and teaching focus on the areas of sustainable finance, central banking and financial stability, financial system architecture and European financial integration. He is regular speaker at academic and professional conferences.