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Author: Karen Wendt
Publisher: Springer
ISBN: 3319103113
Category : Business & Economics
Languages : en
Pages : 674
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Book Description
This book provides evidence on the relevance of environmental and social factors in decision making. It discusses the Gold Standard Frameworks for integrating extra-financial risks into the philosophy, culture, strategies, products and value chain management procedures of investment and banking and highlights the current emergence of global administrative law. New emerging topics like positive impact investing and finance, climate friendly markets, human rights, the enhanced role of fiduciary duties and shared values are approached with a lot of examples for practical application. Steps towards a new banking culture, a new climate for double loop learning and sustainable financial innovation are outlined and the additional benefits of robust stakeholder engagement explained. The anthology paves the way from robust impact and risk management to positive impact creation and a new investment culture. As well, challenges for the implementation and ways to overcome them are broadly discussed. The book is rooted in the fact that institutions and investors which fail to professionally integrate the management of extra-financial risk into their whole lending and investment chain and fail to move to positive impact creation may well loose positions and mandates and finally the trust of their clients, partners and stakeholders. The contributing authors of this anthology are internationally renowned experts in the field of ESG and impact investing. The compendium brings together practitioners and academics to allow a confluence of thoughts, concepts and viewpoints. This huge variety of perspectives and approaches makes this volume a comprehensive compendium on responsible investment and banking.
Author: Karen Wendt
Publisher: Springer
ISBN: 3319103113
Category : Business & Economics
Languages : en
Pages : 674
Get Book
Book Description
This book provides evidence on the relevance of environmental and social factors in decision making. It discusses the Gold Standard Frameworks for integrating extra-financial risks into the philosophy, culture, strategies, products and value chain management procedures of investment and banking and highlights the current emergence of global administrative law. New emerging topics like positive impact investing and finance, climate friendly markets, human rights, the enhanced role of fiduciary duties and shared values are approached with a lot of examples for practical application. Steps towards a new banking culture, a new climate for double loop learning and sustainable financial innovation are outlined and the additional benefits of robust stakeholder engagement explained. The anthology paves the way from robust impact and risk management to positive impact creation and a new investment culture. As well, challenges for the implementation and ways to overcome them are broadly discussed. The book is rooted in the fact that institutions and investors which fail to professionally integrate the management of extra-financial risk into their whole lending and investment chain and fail to move to positive impact creation may well loose positions and mandates and finally the trust of their clients, partners and stakeholders. The contributing authors of this anthology are internationally renowned experts in the field of ESG and impact investing. The compendium brings together practitioners and academics to allow a confluence of thoughts, concepts and viewpoints. This huge variety of perspectives and approaches makes this volume a comprehensive compendium on responsible investment and banking.
Author: Karen Wendt
Publisher: Springer
ISBN: 3319101188
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This book illustrates the impact that a focus on environmental and social issues has on both de-risking assets and fostering innovation. Including impact as a new cornerstone of the investment triangle requires investors and clients to align interests and values and understand needs. This alignment process functions as a catalyst for transforming organizational culture within an organization and therefore initiates the external impact of the organization, but also its internal transformation, which in turn escalates the creation of impact. Describing how culture is the social glue permeating all disciplines of an organization, the book demonstrates how organizational alignment can be achieved in order to allow strategic speed, innovation and learning, and provides examples of how impact can be achieved and staff mobilized It particularly focuses on impact investing, impact entrepreneurship, innovation, de-risking asset, green investment solutions and investor movements to counteract climate change and implementing the United Nations Sustainable Development Goals, highlighting culture, communication, and strategy.
Author: H. Kent Baker
Publisher: John Wiley & Sons
ISBN: 1118237013
Category : Business & Economics
Languages : en
Pages : 528
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Book Description
A detailed look at the role of social responsibility in finance and investing The concept of socially responsible finance and investing continues to grow, especially in the wake of one of the most devastating financial crises in history. This includes responsibility from the corporate side (corporate social responsibility) as well as the investor side (socially responsible investing) of the capital markets. Filled with in-depth insights and practical advice, Socially Responsible Finance and Investing offers an important basis of knowledge regarding both the theory and practice of this ever-evolving area of finance. As part of the Robert W. Kolb Series in Finance, this book showcases contributed chapters from professionals and academics with extensive expertise on this particular subject. It provides a comprehensive view of socially responsible foundations and their applications to finance and investing as determined by the current state of research. Discusses many important issues associated with socially responsible finance and investing, like moral hazard and the concept of "too big to fail" Contains contributed chapters from numerous thought-leaders in the field of finance Presents comprehensive coverage starting with the basics and bringing you through to cutting-edge, current theory and practice Now more than ever, we need to be mindful of the social responsibilities of all investment practices. The recent financial crisis and recession has changed the financial landscape for years to come and Socially Responsible Finance and Investing is a timely guide to help us navigate this difficult terrain.
Author: Joshua Kendall
Publisher: Taylor & Francis
ISBN: 1000688550
Category : Business & Economics
Languages : en
Pages : 452
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Book Description
This book provides the world’s first comprehensive account of responsible investment for fixed income investors. It enables readers to understand the key characteristics of fixed income investments and the relevance of sustainability-related issues to fixed income markets. The expert contributors to this volume explain how sustainability-related issues can be taken into account in fixed income research and decision-making, in portfolio construction, and in active ownership (engagement). They provide a series of detailed case-studies from different parts of the fixed income market (corporate investment grade and high yield, emerging markets, sovereign and municipal debt), from a range of organisations with a variety of investment approaches. The contributors also provide in-depth critical analysis of key issues such as the role and influence of credit rating agencies, green bonds, data and public policy in shaping investment practice. For investors, this book provides practical guidance on how to improve the financial and the sustainability performance of their fixed income investments. For stakeholders such as companies, civil society organisations, and governments it allows them to understand the role that fixed income might play in delivering the Sustainable Development Goals (SDGs), and to understand how they might encourage fixed income investors to pay greater attention to sustainability-related issues in their investment practices and processes.
Author: Olaf Weber
Publisher: University of Toronto Press
ISBN: 1442629339
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
Sustainable Banking introduces business leaders and students to the many ways in which financial institutions can manage their environmental and social impact and meet the needs of the current generation without compromising the needs of future generations. Olaf Weber and Blair Feltmate go beyond the business case for sustainability: how managing environmental, social, and governance risk can contribute to a bank’s bottom line – to make the sustainability case for banking: how banks and other financial institutions can make a positive impact on society. In their book, Weber and Feltmate discuss the key aspects involved in making a financial institution sustainable: how to manage the direct and indirect impacts of banking activities on the community and the environment, how to minimize and mitigate the environmental footprint of internal operations, and how to account for various types of environmental and social risk in lending and project finance. They also introduce sustainable banking products and strategies being adopted by industry leaders, such as responsible investing, social finance, and impact lending.
Author: Hung-Gay Fung
Publisher: Edward Elgar Publishing
ISBN: 1849805237
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
The authors have done an excellent job explaining the development and practice of Socially Responsible Investment (SRI). Under the recent recognition of Corporate Social Responsibility (CSR) in Asia and its strong emphasis by US and European corporations, this book provides important guidance to students and professionals who are interested in the effects and implications of SRI. This book is truly informative and should be on the reading list of all fund managers and CFOs of international corporations which are serious about CSR. Louis T.W. Cheng, Hong Kong Polytechnic University Individual investors and corporate heads have the responsibility to keep abreast of major changes in the marketplace. Socially responsible investment is one of those changes. Fung, Law and Yau provide, in a single source, a great opportunity to get up to date on an area that will be a force for years to come. I encourage any thoughtful investor or manager to read this book. Thomas Schneeweis, University of Massachusetts Amherst, US Socially responsible investment (SRI) is becoming increasingly popular and can be potentially rewarding to all parties concerned. This book discusses the opportunities, challenges, and practices of SRI in a global financial environment in a consistent and integrated framework of risk management. It also covers a wide variety of environmental, social, and corporate governance (ESG) issues related to various participants, such as values-based retail, institutional investors, corporations, banks, supranational agencies, and non-governmental organizations. Readers are provided with the perspectives of SRI from various players in the financial community from values-based investors to fiduciaries to supranational agencies. The authors analyse the incorporation of ESG issues into investment practices within a regulatory, legal, reputational, and operational risk management framework. Academics, corporate executives, government regulators and policymakers, bankers, and non-governmental organizations involved with sustainable development will find much of interest in this book.
Author: Wim Vandekerckhove
Publisher: Springer Science & Business Media
ISBN: 9400740700
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
The SRI phenomenon is said to be entering the mainstream of financial intermediation. From a fairly marginal practice promoted or campaigned for by NGO’s and at odds with financial practice and orthodoxy it grew into well formulated policy adopted by a wide range of investors. Academic literature on SRI has also boomed on the assumption that mainstreaming is taking place. However, little thinking has been carried out on questions specifically arising from this alleged ‘mainstreaming’. This book, addressed to those with a scholarly or practitioner’s interest in SRI, starts filling this neglected dimension. Today, one cannot ignore the difficulties of main stream financing. The financial spheres are trembling globally in one of the worst crises since the 1930’s. As a response to the crisis, the intermediation of ‘financial responsibility’ will undoubtedly be the subject of new regulation and scrutinizing. This book looks into what these turbulences will imply for SRI. In view of these circumstances, one might or even should, ask oneself whether the phenomenon was not an empty fad during the exuberant high of financial euphoria that came abruptly to an end with current financial crises. To put it rather sec: are financial intermediaries that promote ‘sustainability’ credible, while it is obvious that some developments in financial intermediation -predictably, as some say- were unsustainable? Is this an opportunity for enhancing SRI because of the strength and superiority it has developed or will it disappear due to a return to financial myopia? This book is the first to question the future of SRI in such a radical way.
Author: Francesco Gangi
Publisher: Springer Nature
ISBN: 3030703509
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
Over the last decade, socially responsible investments (SRIs) have become paramount to both professionals and academics. In the aftermath of the financial crisis of 2007-8, practitioners have become much more involved in new financial models that integrate returns and positive social and environmental impacts. The authors argue that previous irresponsible financial models are anachronistic, and propose a new relationship between stakeholder and shareholder. Starting from the mainstreaming of SRI, this book recovers the social function of banks and the innovative role of crowdfunding and venture capital models. The book offers a unified perspective for firm and funder, making it a timely and invaluable read for scholars and practitioners interested in sustainable development and social impact finance.
Author: Pedro Matos
Publisher: CFA Institute Research Foundation
ISBN: 1944960988
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Author: Benjamin J. Richardson
Publisher: Routledge
ISBN: 1135941068
Category : Law
Languages : en
Pages : 347
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Book Description
This book is about fiduciary law’s influence on the financial economy’s environmental performance, focusing on how the law affects responsible investing and considering possible legal reforms to shift financial markets closer towards sustainability. Fiduciary law governs how trustees, fund managers or other custodians administer the investment portfolios owned by beneficiaries. Written for a diverse audience, not just legal scholars, the book examines in a multi-jurisdictional context an array of philosophical, institutional and economic issues that have shaped the movement for responsible investing and its legal framework. Fiduciary law has acquired greater influence in the financial economy in tandem with the extraordinary recent growth of institutional funds such as pension plans and insurance company portfolios. While the fiduciary prejudice against responsible investing has somewhat waned in recent years, owing mainly to reinterpretations of fiduciary and trust law, significant barriers remain. This book advances the notion of ‘nature’s trust’ to metaphorically signal how fiduciary responsibility should accommodate society’s dependence on long-term environmental well-being. Financial institutions, managing vast investment portfolios on behalf of millions of beneficiaries, should manage those investments with regard to the broader social interest in sustaining ecological health. Even for their own financial self-interest, investors over the long-term should benefit from maintaining nature’s capital. We should expect everyone to act in nature’s trust, from individual funds to market regulators. The ancient public trust doctrine could be refashioned for stimulating this change, and sovereign wealth funds should take the lead in pioneering best practices for environmentally responsible investing.
