Keeping ethical investment ethical: Regulatory issues for investing for sustainability [Book Review]
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Business Ethics 87 (4):555 - 572 (2009)
Regulation must target the financial sector, which often funds and profits from environmentally unsustainable development. In an era of global financial markets, the financial sector has a crucial impact on the state of the environment. The long-standing movement for ethically and socially responsible investment (SRI) has recently begun to advocate environmental standards for financiers. While this movement is gaining more adherents, it has increasingly justified responsible financing as a path to be prosperous, rather than virtuous. This trend partly owes to how financial institutions view their legal responsibilities. The business case motivations that now predominantly drive SRI are not sufficient to make the financial sector a means to sustainable development. Some modest legal reforms to improve the quality and extent of SRI have yet to make a tangible difference. A more ambitious strategy to promote SRI for environmental sustainability is possible, based on reforming the fiduciary duties of financial institutions. Such duties, tied to concrete performance standards, could make financiers invest in more ethically responsible ways. Other collateral reforms to financial markets, including improved corporate environmental reporting, are required to promote sustainability.
|Keywords||financial markets ethical investment socially responsible investment sustainable development environmental law|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
Douglas Birsch & John Fielder (eds.) (1994). The Ford Pinto Case: A Study in Applied Ethics, Business, and Technology. State University of New York Press.
Justin J. Keeble, Sophie Topiol & Simon Berkeley (2003). Using Indicators to Measure Sustainability Performance at a Corporate and Project Level. Journal of Business Ethics 44 (2/3):149 - 158.
Craig Mackenzie (1998). The Choice of Criteria in Ethical Investment. Business Ethics 7 (2):81–86.
Russell Sparkes (2001). Ethical Investment: Whose Ethics, Which Investment? Business Ethics 10 (3):194–205.
Citations of this work BETA
Mark Jonathan Rhodes (2010). Information Asymmetry and Socially Responsible Investment. Journal of Business Ethics 95 (1):145 - 151.
Neil Stuart Eccles (2010). UN Principles for Responsible Investment Signatories and the Anti-Apartheid SRI Movement: A Thought Experiment. [REVIEW] Journal of Business Ethics 95 (3):415 - 424.
Joakim Sandberg (2011). Socially Responsible Investment and Fiduciary Duty: Putting the Freshfields Report Into Perspective. [REVIEW] Journal of Business Ethics 101 (1):143-162.
Eddy S. Ng & Ronald J. Burke (2010). Predictor of Business Students' Attitudes Toward Sustainable Business Practices. Journal of Business Ethics 95 (4):603 - 615.
N. S. Eccles & S. Viviers (2011). The Origins and Meanings of Names Describing Investment Practices That Integrate a Consideration of ESG Issues in the Academic Literature. Journal of Business Ethics 104 (3):389-402.
Similar books and articles
Steve Schueth (2003). Socially Responsible Investing in the United States. Journal of Business Ethics 43 (3):189 - 194.
Benjamin J. Richardson (2005). Corporate Finance and Environmentally Responsible Business. International Corporate Responsibility Series 2:79-100.
Jonas Nilsson (2008). Investment with a Conscience: Examining the Impact of Pro-Social Attitudes and Perceived Financial Performance on Socially Responsible Investment Behavior. [REVIEW] Journal of Business Ethics 83 (2):307 - 325.
Jacob Park (2005). Beyond Good Intentions. International Corporate Responsibility Series 2:101-108.
Derek Yach (2001). Healthy Investments in Investing in Health. Journal of Business Ethics 33 (3):191 - 198.
Josep M. Lozano, Laura Albareda & M. Rosario Balaguer (2006). Socially Responsible Investment in the Spanish Financial Market. Journal of Business Ethics 69 (3):305 - 316.
Angeles Fernandez-Izquierdo & Juan Carlos Matallin-Saez (2008). Performance of Ethical Mutual Funds in Spain: Sacrifice or Premium? [REVIEW] Journal of Business Ethics 81 (2):247 - 260.
S. Prakash Sethi (2005). Investing in Socially Responsible Companies is a Must for Public Pension Funds – Because There is No Better Alternative. Journal of Business Ethics 56 (2):99 - 129.
Shuangge Wen (2009). Institutional Investor Activism on Socially Responsible Investment: Effects and Expectations. Business Ethics 18 (3):308-333.
Christopher J. Cowton & Joakim Sandberg (2012). Socially Responsible Investment. In Ruth Chadwick (ed.), Encyclopedia of Applied Ethics, 2nd ed. Academic Press.
Added to index2009-01-28
Total downloads21 ( #76,135 of 1,096,179 )
Recent downloads (6 months)4 ( #54,990 of 1,096,179 )
How can I increase my downloads?