Socially responsible investing: from the ethical origins to the sustainable development framework of the European Union

Alice Martini ()
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Alice Martini: Università Di Pisa

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2021, vol. 23, issue 11, No 54, 16874-16890

Abstract: Abstract In this work, we present an overview of the historical development of socially responsible investing (SRI). We will argue that such a financial activity has been boosting in recent decades from a niche, mainly as a religious-led exclusionary practice, towards a mainstream strategy of risk analysis for institutional and retail investors. We also discuss the advances and possible drawbacks that regulatory activity and harmonization process on such industry have achieved at international level in recent years, with a special focus on the European Union. The study shows that the lack of a globally accepted taxonomy on what constitutes sustainable activities, of regulatory clarity and of high-quality data allowing for comparisons across industries and regions, together with practical and behavioural complexities are major critical issues that discourage SRI industry at the global level.

Keywords: Socially responsible investing; Ethical investing; ESG; CSR; Economic thought; Sustainable development; Environmental issues; European action plan on sustainable finance; Economic history (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (12)

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DOI: 10.1007/s10668-021-01375-3

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