The book argues that long-term recovery and sustainability for municipalities in financial distress requires a modularly tailored decision-making process, incorporating environmental, social, and governance (ESG) considerations.
Dr. Eugenio Vaccari (Senior Lecturer at Royal Holloway, University of London), and Professors Laura N Coordes (Arizona State University), Yseult Marique (University of Essex) and Geo Quinot (Stellenbosch University) have co-authored a book titled “Municipalities in Financial Distress: An Environmental, Social and Governance Critique”.
The book is published by Edward Elgar Publishing, and it is available open access from March 2025 on this page. The authors are grateful to the University of Essex Law School and Stellenbosch University for covering the costs of the open access license.
The book compares the distinct approaches of the United States, South Africa, and England to handling municipal financial distress, highlighting the inadequacies of existing frameworks in promoting sustainable, long-term solutions. It argues for incorporating environmental, social, and governance (ESG) considerations to address the root causes of financial distress and to ensure the ongoing functionality and democratic integrity of local governments.
