nach oben

Erschienen in:

2018 | OriginalPaper | Buchkapitel

14. Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System?

verfasst von : Olaf Weber

Erschienen in: Designing a Sustainable Financial System

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This contribution discusses the role of voluntary sustainability codes of conduct and sustainability regulation in helping to create a more sustainable financial system. The analyzed voluntary codes of conducts are UNEPFI, UNPRI, the Equator Principles, GABV, and IRIS. Furthermore, financial sector sustainability regulations, such as the Chinese Green Credit Policy, the Nigerian Sustainable Banking Principles, and the Environmental Risk Management Guidelines for Banks and Financial Institutions in Bangladesh, will be discussed. Additionally, newer developments, such as the FSB Task Force on Climate-Related Disclosures and climate risk-related reporting regulations for institutional investors, will be presented. We conclude that both voluntary codes of conduct and regulations can help to create a more sustainable financial system, particularly if they work in tandem.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Mobilizing Early-Stage Investments for an Innovation-Led Sustainability Transition

Nächstes Kapitel Why Self-Commitment Is Not Enough: On a Regulated Minimum Standard for Ecologically and Socially Responsible Financial Products and Services

Though countries, such as Nigeria and Indonesia, will belong to the biggest economies in the near future.

Aboutorabifard, H. (2016). Equator principles and climate change issues: Examining the EPs’ climate change policies and analyzing the likely effectiveness of these policies. MES Sustainability Management Master’s Thesis, University of Waterloo, Waterloo. Retrieved from http://hdl.handle.net/10012/10361

Adams, C. A. (2004). The ethical, social and environmental reporting-performance portrayal gap. Accounting, Auditing & Accountability Journal, 17(5), 731–757. https://doi.org/10.1108/09513570410567791 CrossRef

Bondy, K., Matten, D., & Moon, J. (2008). Multinational corporation codes of conduct: Governance tools for corporate social responsibility? Corporate Governance: An International Review, 16(4), 294–311. https://doi.org/10.1111/j.1467-8683.2008.00694.x CrossRef

Bugg-Levine, A., & Emerson, J. (2011). Impact investing – Transforming how we make money while making a difference. San Francisco: Jossey-Bass.CrossRef

Carney, M. (2015). Breaking the tragedy of the horizon – Climate change and financial stability. London: Bank of England.

European Commission. (2016, June 30). Investors to assess climate risks in France. Retrieved from http://ec.europa.eu/environment/ecoap/about-eco-innovation/business-fundings/investors-assess-climate-risk-france_en

Gond, J.-P., & Piani, V. (2013). Enabling institutional investors’ collective action: The role of the principles for responsible investment initiative. Business and Society, 52(1), 64–104. https://doi.org/10.1177/0007650312460012 CrossRef

International Capital Market Association. (2016). Green bond principles (p. 7). Zurich: International Capital Market Association/The Green Bond Principles.

International Finance Corporation. (2012). IFC performance standards on environmental and social sustainability (p. 72). Washington, DC: International Finance Corporation. http://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/ifc+sustainability/publications/publications_handbook_pps

Korslund, D. (2012). Strong and straightforward: The business case for sustainable banking. http://www.gabv.org/wp-content/uploads/GABV-Report_Strong-and-Straightforward_The-Business-Case-for-Sustainable-Banking1.pdf

Korslund, D. (2013). Real banking for the real economy: Comparing sustainable bank performance with the largest banks in the world. www.gabv.org

Lawrence, R. F., & Thomas, W. L. (2004). The equator principles and project finance: Sustainability in practice? Natural Resources and Environment, 19(2), 20.

Lydenberg, S. (2013). Reason, rationality, and fiduciary duty. Journal of Business Ethics, 1–16. https://doi.org/10.1007/s10551-013-1632-3

Missbach, A. (2004). The equator principles: Drawing the line for socially responsible banks? An interim review from an NGO perspective. Development, 47(3), 78–84.CrossRef

Oni, O. (2016). Banking on financial sector sustainability regulations. MES Sustainability Management Master’s thesis, UWSpace, Waterloo. Retrieved from http://hdl.handle.net/10012/10367

Oyegunle, A. (2016). An assessment of sustainable banking regulations in emerging economies. MES Master’s thesis, University of Waterloo, Waterloo.

Oyegunle, A., & Weber, O. (2015). Development of sustainability and green banking regulations – Existing codes and practices (p. 24). Waterloo: Center for International Governance Innovation.

Principles for Responsible Investment. (2016). Annual report 2016 (p. 75). London: Prinicples for Responsible Investment.

Richardson, B. J., & Cragg, W. (2010). Being virtuous and prosperous: SRI’s conflicting goals. Journal of Business Ethics, 92, 21–39. https://doi.org/10.1007/s10551-010-0632-9 CrossRef

Sandberg, J. (2010). Socially responsible investment and fiduciary duty: Putting the freshfields report into perspective. Journal of Business Ethics. https://doi.org/10.1007/s10551-010-0714-8

Sethi, S. P., & Emelianova, O. (2006). A failed strategy of using voluntary codes of conduct by the global mining industry. Corporate Governance: The International Journal of Business in Society, 6(3), 226–238. https://doi.org/10.1108/14720700610671837 CrossRef

Somers, M. J. (2001). Ethical codes of conduct and organizational context: A study of the relationship between codes of conduct, employee behavior and organizational values. Journal of Business Ethics, 30(2), 185–195. https://doi.org/10.1023/A:1006457810654 CrossRef

Talbot, D., & Boiral, O. (2013). Can we trust corporates GHG inventories? An investigation among Canada’s large final emitters. Energy Policy, 63(0), 1075–1085. https://doi.org/10.1016/j.enpol.2013.09.054 CrossRef

Task Force on Climate Related Disclosures. (2016). Recommendations of the task force on climate-related financial disclosures (p. 74). Basel: Task Force on Climate Related Disclosures.

The Equator Principles. (2013). The Equator principles. http://www.equator-principles.com/index.php/ep3

UNEP Finance Initiative. (2016). Positive impact manifesto (p. 4). Geneva: UNEP Finance initiative.

UNEP Finance Initiative. (2017). The principles for positive impact finance (p. 10). Geneva: UNEP Finance Initiative.

United Nations. (2015). Transforming our world: The 2030 agenda for sustainable development. https://sustainabledevelopment.un.org/post2015/transformingourworld

Watchman, P. Q. (2005). A legal framework for the integration of environmental, social and governance issues into institutional investment. www.unepfi.org/fileadmin/documents/freshfields_legal_resp_20051123.pdf

Watchman, P. Q. (2006). Banks, business and human rights. Butterworths Journal of International Banking and Financial Law, 2, 47–50.

Watchman, P. Q., Delfino, A., & Addison, J. (2007). EP 2: The revised equator principles: Why hard-nosed bankers are embracing soft law principles (1752–1440). http://www.equator-principles.com/ClientBriefingforEquatorPrinciples_2007-02-07.pdf

Weber, O. (2013). Social banks and their profitability: Is social banking in line with business success? In L. San-Jose & J. L. Retolaza (Eds.), Prospective innovation at ethical banking and finance (pp. 2–19). Sumy: Vinnychenko M.D.

Weber, O. (2014). The financial sector’s impact on sustainable development. Journal of Sustainable Finance and Investment, 4(1), 1–8. https://doi.org/10.1080/20430795.2014.887345 CrossRef

Weber, O. (2016a). Equator principles reporting: Factors influencing the quality of reports. International Journal of Corporate Strategy and Social Responsibility, 1(2), 141–160.CrossRef

Weber, O. (2016b). Impact investing. In O. M. Lehner (Ed.), Routledge handbook on social and sustainable finance. London: Routledge.

Weber, O. (2016c). The impact of green banking guidelines on the sustainability performance of banks: The Chinese case (p. 8). Waterloo: Centre for International Governance Innovation.

Weber, O. (2016d). Social banks’ mission and finance. In O. M. Lehner (Ed.), Routledge handbook on social and sustainable finance (pp. 85–101). London: Routledge.

Weber, O., & Acheta, E. (2014). The equator principles: Ten teenage years of implementation and a search for outcome, CIGI papers series (p. 20). Waterloo: Centre for International Governance Innovation.

Weber, O., & Adeniyi, I. (2015). Voluntary sustainability codes of conduct in the financial sector, Cigi papers (p. 20). Waterloo: Centre for International Governance Innovation.

Weber, O., & Feltmate, B. (2016). Sustainable banking and finance: Managing the social and environmental impact of financial institutions. Toronto: University of Toronto Press.CrossRef

Weber, O., & Oni, O. (2015). The impact of financial sector sustainability regulations on banks (p. 24). Waterloo: Centre for International Governance Innovation.

Weber, O., & Remer, S. (Eds.). (2011). Social banks and the future of sustainable finance. London: Routledge.

Weber, O., Acheta, E., & Adeniyi, I. (2016). The impact of sustainability codes of conduct in the financial sector (Vol. 92, p. 18). Waterloo: Centre for International Governance Innovation.

Wright, C., & Rwabizambuga, A. (2006). Institutional pressures, corporate reputation, and voluntary codes of conduct: An examination of the equator principles. Business and Society Review, 111(1), 89–117. https://doi.org/10.1111/j.1467-8594.2006.00263.x CrossRef

Titel: Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System?
verfasst von: Olaf Weber
Verlag: Springer International Publishing
Buch: Designing a Sustainable Financial System
Print ISBN: 978-3-319-66386-9

Electronic ISBN: 978-3-319-66387-6

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-66387-6_14

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Springer Professional "Technik"