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Sustainable Finance for Sustainable Development

Author

Listed:
  • Giovanni Ferri

    (LUMSA University)

  • Bonnie Annette Acosta

Abstract

The paper explores how ethical and sustainable oriented finance is key to reach sustainable development by tackling environmental risk through green finance and showing empirical evidence on the link between finance and inequality. The theory provided puts in the right mind frame to analyze markets, intermediaries and instruments with a sustainable lens to focus on the benefits that have brought to sustainable development. A discussion is presented between different intermediaries and highlights the benefits of cooperative banks especially the close relationship of customers and bank and the resilience it gives to Small and Medium Enterprises (SMEs) in difficult times. Different investments strategies are discussed walking through the evolution of Sustainable and Responsible Investing (SRI) funds and diving into the ESG analysis to use as criteria to allocate investments based on environmental, social and governance principles. Microfinance is introduced as a different market that has reached the people at the bottom of the pyramid and highlights the key role it will play to bring financial inclusion. Islamic finance and Fintech are also discussed. Different instruments are presented to understand the current landscape of how different investors are using innovative products to attack social and environmental problems. Finally, five different ways are presented on how policies can strengthen and support sustainable development arguing that the most important is by promoting sustainable footprint certification.

Suggested Citation

  • Giovanni Ferri & Bonnie Annette Acosta, 2019. "Sustainable Finance for Sustainable Development," CERBE Working Papers wpC30, CERBE Center for Relationship Banking and Economics.
    • Handle: RePEc:lsa:wpaper:wpc30
    as

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    File URL: https://repec.lumsa.it/wp/wpC30.pdf
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    Citations

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    Cited by:

    1. Deimante Teresiene & Daiva Budriene, 2021. "Business ethics and ethical investing: from historical, ethical approach to real investments," Technium Social Sciences Journal, Technium Science, vol. 17(1), pages 212-221, March.

    More about this item

    Keywords

    Sustainable Finance; SDGs; Green Bonds; Social Bonds; Fintech; Human Centered Business Model.;
    All these keywords.

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D25 - Microeconomics - - Production and Organizations - - - Intertemporal Firm Choice: Investment, Capacity, and Financing
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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