Addressing Socially Responsible Investments through Alternative Risk Transfer Solutions at International Level

Irina-Eugenia Iamandi and Laura-Gabriela Constantin ()

Romanian Economic Journal, 2009, vol. 12, issue 33, 61-94

Abstract: The aim of the present paper is to connect sustainability with financial solutions designed to improve development in poor regions or developing countries. First part of the paper presents the concept of socially responsible investments (SRI) and their evolution in the last decades, emphasizing the social, environmental and governance objectives addressed by SRI. In order to find a possible solution for redirecting private financial capital and resources towards sustainability benefits, the second part of the paper introduces the concept of alternative risk transfer (ART) solutions, by presenting their appearance, evolution and classification. Third part of the paper reveals the social and environmental role that ART solutions could play by exposing three very recent representative examples of innovative financial products that have also achieved social and environmental goals in developing countries. Finally, fourth and fifth parts of the paper focus on current state in Romania, potential further research and conclusions.

Keywords: corporate social responsibility (CSR); socially responsible investments (SRI); alternative risk transfer (ART) solutions; index-based instruments; catastrophe bonds (search for similar items in EconPapers)
JEL-codes: G1 G11 G15 G19 G22 M14 (search for similar items in EconPapers)
Date: 2009
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rej:journl:v:12:y:2009:i:33:p:61-94

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