Socially Responsible Investment: Global Convergence or Local Divergence?

Céline Louche ()

Chapter 4 in Finance for a Better World, 2009, pp 51-70 from Palgrave Macmillan

Abstract: Abstract The chapter conceptualizes the mechanisms that sustain the development of socially responsible investment (SRI). Empirical observations show that SRI has gained unprecedented momentum worldwide in recent years and has diffused on a global scale. The idea of SRI started several hundred years ago (Domini 2001). It was at that time a curiosity and a niche market phenomenon. No one would have ever expected SRI to grow beyond a marginal movement and cross national boundaries. Today, in 2008, SRI is embraced in most countries around the world — Europe, Asia, Latin America and Africa. The diffusion of SRI is characterized by the increase of SRI funds. Between 1995 and 2007, the number of SRI funds in the US has almost multiplied by five, from 55 to 260 (US SIF 2008) and by eight in Europe from 54 to 437 (SIRI Group 2002, 2007). Another feature of the development of SRI is the diversification of SRI-related products. SRI shifted from one single approach based on exclusion, also called “sin stocks,” to multiple approaches offering different strategies able to satisfy a variety of growing demands.

Keywords: Corporate Social Responsibility; Business Ethic; Global Convergence; Socially Responsible Investment; Responsible Investment (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Socially Responsible Investment: Global Convergence or Local Divergence? (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23575-5_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230235755

DOI: 10.1057/9780230235755_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().