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Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System?

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Abstract

This contribution discusses the role of voluntary sustainability codes of conduct and sustainability regulation in helping to create a more sustainable financial system. The analyzed voluntary codes of conducts are UNEPFI, UNPRI , the Equator Principles , GABV , and IRIS . Furthermore, financial sector sustainability regulations, such as the Chinese Green Credit Policy, the Nigerian Sustainable Banking Principles, and the Environmental Risk Management Guidelines for Banks and Financial Institutions in Bangladesh , will be discussed. Additionally, newer developments, such as the FSB Task Force on Climate-Related Disclosures and climate risk-related reporting regulations for institutional investors , will be presented. We conclude that both voluntary codes of conduct and regulations can help to create a more sustainable financial system, particularly if they work in tandem.

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Notes

  1. 1.

    Though countries, such as Nigeria and Indonesia, will belong to the biggest economies in the near future.

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Authors and Affiliations

  1. School of Environment, Enterprise and Development (SEED), University of Waterloo, Waterloo, Canada

    Olaf Weber

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  1. Olaf Weber
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Editors and Affiliations

  1. David O’Brien Centre for Sustainable Enterprise, Concordia University, John Molson School of Business, Montreal, QC, Canada

    Thomas Walker

  2. David O’Brien Centre for Sustainable Enterprise, Concordia University, John Molson School of Business, Montreal, QC, Canada

    Stéfanie D. Kibsey

  3. David O’Brien Centre for Sustainable Enterprise, Concordia University, John Molson School of Business, Montreal, QC, Canada

    Rohan Crichton

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Weber, O. (2018). Financial Sector Sustainability Regulations and Voluntary Codes of Conduct: Do They Help to Create a More Sustainable Financial System?. In: Walker, T., Kibsey, S.D., Crichton, R. (eds) Designing a Sustainable Financial System. Palgrave Studies in Sustainable Business In Association with Future Earth. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-66387-6_14

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