Armen V Papazian.

New book on how to hardwire sustainability

8 November 2023

The article at a glance

A new book by Dr Armen Papazian, a PhD graduate of Cambridge Judge Business School, takes a new look at sustainability and finance.

Book cover for 'Hardwiring Sustainability into Financial Mathematics'.

A new book about sustainability in finance by a PhD graduate of Cambridge Judge Business School, Dr Armen Papazian, will be released on 3 December by publisher Palgrave Macmillan.

The new book builds on a 2022 book by Armen on his ideas about the Space Value of Money, which examined finance in ways beyond the usual factors of risk and time. Armen is a founder and director of the Space Value Foundation.

The new book – entitled ‘Hardwiring Sustainability into Financial Mathematics: Implications for Money Mechanics’ – looks at the interaction between sustainability and finance in new ways.

Among other topics, the book suggests the hardwiring of sustainability into financial mathematics that draws on the concept of the space value of money – urging new thinking about accounting frameworks and money mechanics to enhance sustainability. It also explores key omissions in finance theory, principles, and equations, such as the analytical dimension of space and our responsibility for impact. The book offers a set of new formulas to quantify the space impact of cash flows and integrate them into our value and return equations in finance.

The Chartered Institute for Securities and Investment (The CISI) has recently published an article by Armen, “Sustainability and a space-adjusted mathematics of value and return”, that summarises the key arguments of the book. 

A launch event for the book is scheduled for 7 December at the Chartered Accountants Hall in London, including an address by the 695th Lord Mayor of the City of London, Alderman Professor Michael Mainelli. Visit the Space Value Foundation site for more information about the launch event.