9 THE ITALIAN LAW JOURNAL NO. 1 (2023)
A Bottom-Up Financial Strategy for a Sustainable Society
by Adele Emilia Caterini This paper examines the Social Impact Bond as a form of Impact Investment to finance policies of ecological transition. Due to the lack of sufficient traditional financial resources, the involvement of the private sector in the pursuit of environmental, social and economic objectives could actively contribute to sustainable development. This study seeks to analyse these bottom-up interventions which, albeit with limited and long-term remuneration, fight against climate change through the use of renewable sources. Thus, besides favouring carbon neutrality, these interventions promote the overcoming of the current economic crisis. However, the measures presuppose a concrete assessment of their merit according to the criteria of reasonableness, proportionality and sustainability, as well as an analysis of how adequate they are with respect to the positive results pursued. DOI 10.23815/2421-2156.ITALJ ISSN 2421-2156
