Socially Responsible Investing Through Voluntary Codes
Harnessing Foreign Investment to Promote Environmental Protection: Incentives and Safeguards, pp. 383-414, Pierre-Marie Dupuy & Jorge E. Viñuales, eds., Cambridge University Press, 2013
Posted: 4 May 2013
Date Written: 2013
This chapter assesses whether socially responsible investing (SRI) through voluntary codes of conduct can help promote sustainable development. The financial industry has drafted, sometimes in partnership with public agencies and other stakeholders, a wide range of codes of conduct in recent years, including the UN Principles for Responsible Investment and the Equator Principles. The chapter examines the design, goals and implementation of voluntary SRI codes, focusing on the important influence of their proponents. In reviewing how to improve such codes, the chapter recommends multi-stakeholder regimes that provide for on-going dialogue and learning among diverse parties.
Keywords: Socially responsible investing, voluntary codes, market governance, sustainable development
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