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Environmental Considerations In The Decisions Of Australian Investment Professionals

Author

Listed:
  • CHRIS FAYERS

    (School of Geography and Environmental Science, P. O. Box 11A, Monash University, Melbourne, Victoria 3800, Australia)

  • CHRIS COCKLIN

    (School of Geography and Environmental Science, P. O. Box 11A, Monash University, Melbourne, Victoria 3800, Australia)

  • DOUG HOLMES

    (School of Geography and Environmental Science, P. O. Box 11A, Monash University, Melbourne, Victoria 3800, Australia)

Abstract

With the realisation that changed investment patterns are necessary conditions for sustainable development, investors and other stakeholders are becoming increasingly interested in corporate environmental performance. In some countries, environmental and eco-efficiency factors are now being considered in the context of investment decisions. Research conducted in both Australia and overseas suggests, however, that investment professionals do not place the same emphasis on environmental performance as other users of corporate reports. In this paper we report on the results of a questionnaire distributed to investment analysts in Australia. The questionnaire was directed towards identifying the extent to which environmental management and performance feature in assessing company performance, general attitudes among investment professionals towards the business-environment relation, and the constraints on the inclusion of environmental performance in investment decisions. The results indicate a very modest shift towards environmental considerations among investment professionals in Australia and that some forms of environmental risks are being assessed. However, there are constraints to the inclusion of environmental performance, most of which relate to the nature and availability of reliable information. In this paper we also contemplate the question of whether environmental reporting and performance rating systems would facilitate the integration of environmental considerations in investment decisions.

Suggested Citation

  • Chris Fayers & Chris Cocklin & Doug Holmes, 2000. "Environmental Considerations In The Decisions Of Australian Investment Professionals," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 173-201.
    • Handle: RePEc:wsi:jeapmx:v:02:y:2000:i:02:n:s1464333200000138
    DOI: 10.1142/S1464333200000138
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    Cited by:

    1. Henrik Nilsson & Gary M. Cunningham & Lars G. Hassel, 2008. "A study of the provision of environmental information in financial analysts' research reports," Sustainable Development, John Wiley & Sons, Ltd., vol. 16(3), pages 180-194.
    2. Malgorzata Janicka & Artur Sajnog, 2021. "The European Union’s Environmental Policy and Long-Term Investments of Enterprises," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 335-355.

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