Sustainable Development and the Financial System: Society's Perceptions About Socially Responsible Investing

Abstract

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Environmental, Social and Governance (ESG) and Investment Decision in Bangladesh

“…and at most a Master's degree, which suggests at least some understanding of ESG and the importance of sustainable issues in investment decision due to the easy dissemination information in the present age. Furthermore, investors with a higher income level tended to show a greater inclination towards ESG issues, which agrees with the previous literature [30,103]. Moreover, investors with higher investment amount invested in stock markets that had a greater preference for ESG issues.…”

A systematic literature review of socially responsible investment and environmental social governance metrics

“…ESG metrics are also a useful tool to educate and build awareness about SRI. Studies indicate that investors with limited awareness and understanding of available ESG metrics are hesitant to invest in SRI (Escrig‐Olmedo, Muñoz‐Torres, & Fernández‐Izquierdo, ; Giamporcaro & Pretorius, ). For SRI investors, there is concern about whether their ethical beliefs can be integrated into investment analysis.…”

Risk and return characteristics of environmentally and socially responsible firms in Spain during a financial downturn: 2008–2011

“…These standards were developed through extensive market consultations, shaped by a broad range of stakeholders, including nongovernmental organizations, governmental bodies, consultants, academics, investors, and the corporate sector (FTSE, 2008). These responsible companies mainly have been selected from the IBEX 35 index or the FTSE Spain All Cap index, which includes large, medium, and small capitalization universes for developed and emerging markets in Spain (AlonsoMollar, Fernandez-Izquierdo & Nieto-Soria, 2011; Escrig- Olmedo et al, 2013;FTSE, 2008). The firms also undergo biannual evaluations by qualification and rating agencies such as EIRIS and its research partner in Spain: ECODES (FTSE, 2008).…”

“…In Spain, the FTSE4Good IBEX, launched in 2008 in collaboration with Bolsas y Mercados Españoles, is the primary social and environmental stock index (Chaves, Mozas, Puentes & Bernal, 2011;Escrig-Olmedo et al, 2013;FTSE, 2008). Companies listed on it must exhibit their substantial efforts to (a) implement an environmental and social policy, (b) adopt an ESM system, (c) report their activities and behaviors periodically, and (d) perform in accordance with continuous objective decreases regarding their greenhouse gas emissions.…”

“…For example, they might lose access to financial resources, because investors increasingly rely on social and environmental decision-making criteria (De la Cuesta, Valor & Sanmartin, 2002;Viviers, Bosch, Smit & Buijs, 2008a, 2008b. In parallel with the various corporate social responsibility qualification and rating agencies (e.g., Ethical Investment Research Services -EIRIS-, Sustainable Asset Management -SAM-, Sustainable Investment Research International -SiRi-, Forum Ethibel), several investment funds and stock market indexes feature only businesses that comply with strict environmental and social demands (e.g., FTSE4Good Index, Dow Jones Sustainability Index, Domini 400 Social Index; EscrigOlmedo, Muñoz-Torres & Fernandez-Izquierdo, 2013). Furthermore, as previous research has suggested, firms' financial performance might benefit from their environmental and social responsibility, according to the direct positive association of corporate environmental and social performance (CESP) with financial performance (Barnett & Salomon, 2012;Margolis, Elfenbein & Walsh, 2007;Orlitzky, Schmidt & Rynes, 2003).…”