Contact person:
Lina Olsson
  • Formas
Responsible at MaU:
Lina Olsson
Collaborators and other project members:
  • Dr. Özlem Çelik University of Helsinki Global Development Studies
Time frame:
01 September 2022 - 31 August 2025
Research subject:

About the project

This project analyses the recent switch in the financing of 'green' urban development from conventional loan mechanisms to municipal debt financing in Sweden; how this trend relates to a shift from a local entrepreneurial welfare state to a green entrepreneurial one, how it is embedded within neoliberalism combined with sustainability policy. Swedish municipalities have taken a frontrunner position in issuing green municipal bonds for green urban development. Recent research has shown that while it is unclear to what extent actual green financed projects contribute to a systemic sustainability shift, little concern has been paid to the risk of unequal redistributive outcomes. Thus, the green financialization of urban development led by local states may represent a shift towards a green entrepreneurial local welfare provision signified by unequal distribution. The project examines the use of green municipal bonds in three cities in Sweden from three theoretical strands: local state theory, urban entrepreneurialism, and financialization of urban development.