Abstract

UGALDE HERNANDEZ, Óscar. El nacimiento de las finanzas sostenibles: perspectivas históricas y fundamentos epistemológicos. Relac. Int. [online]. 2025, vol.98, n.1, pp.79-103.  Epub June 12, 2025. ISSN 2215-4582.  http://dx.doi.org/10.15359/98-1.4.

This paper examines the epistemic roots and historical milestones that have influenced the evolution of sustainable finance, both as a concept and as a benchmark for best practices in investment decisions. The year 1987 marked a turning point when the Brundtland Report introduced the definition of sustainable development as a paradigm integrating social, economic, and environmental dimensions. Sustainable finance has shifted from fringe practices to mainstream acceptance in an era in which global awareness of ecological issues has significantly increased, with estimates for sustainable finance project-related investment assets to hit between $30 and $50 trillion by 2030 timescale. Through an extensive review of the existing literature, including academic journals, industry reports, and historical publications, this study identifies significant markers on the path to modern sustainable finance. It seeks to explain how past ideas and events have influenced contemporary financial practices and policy and make sense of the ongoing transition to a sustainable financial system.

Keywords : environment; financial practices; investment decisions; sustainable development; sustainable finance.

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