ABSTRACT
This chapter shows to the issue of environmental sustainability and finance, or sustainable development and value creation in economic, environmental, and social terms. It examines the relationship between socio-economic and social-natural circuits of capital. The chapter also examines the spatial and temporal nature of value, and considers the importance of balancing types and temporalities of value within an economy. It reviews in detail the case of Louisiana, and how and why the financialization of the petroleum economy has had such devastating effects on the state. The major value accrued from Louisiana’s petro-economy is exchange value or derived value. The Fund’s broad strategy of managing Norway’s petroleum wealth operates to diversify and sustain several types of value discussed in the typology earlier. The chapter explores the nature of social cost at private gain. The 'sacrifice zone' is symbolic of an economy that derives private gain from social cost.
