Responsible Investment Banking and Asset Management: Risk Management Frameworks, Soft Law Standards and Positive Impacts

Jonathon Hanks ()
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Jonathon Hanks: Incite

A chapter in Responsible Investment Banking, 2015, pp 545-561 from Springer

Abstract: Abstract The past 15 years has seen a proliferation of soft law standards aimed at promoting responsible business practice across all types of business sectors, including specifically within the banking and asset management sectors. Amongst this profusion of standards and initiatives, there are arguably three global standards that cut across all sectors and that enjoy prominence amongst those sustainability practitioners looking for international guidance: ISO 26000, the United Nations Global Compact (UNGC), and the Global Reporting Initiative (GRI). This chapter focuses on the potential contribution that ISO 26000 can play in promoting responsible business practice in the investment banking and asset management sectors. After providing a broad introduction to ISO 26000, identifying some suggested unique features that distinguish the standard from other social responsibility initiatives, the chapter reviews how ISO 26000 can and is being used to promote responsible investment practices. The chapter will argue that while these initiatives have a potentially significant role to play in promoting sustainable development, it is critical to recognise their limitations.

Keywords: Social Responsibility; Global Reporting Initiative; Core Subject; United Nations Global Compact; Voluntary Initiative (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-319-10311-2_37

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DOI: 10.1007/978-3-319-10311-2_37

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