Doing Right, Investing Right: Socially Responsible Investing and Shareholder Activism in the Financial Sector
Posted: 30 Sep 2016
Date Written: 2013
Abstract
In this article, we present an overview of corporate social responsibility (CSR) in the financial sector. We focus on how socially responsible investment and shareholder activism have been integral parts of corporate social responsibility in the financial sector. We examine how the financial sector and its firms are evaluated and rated via a sustainability index, the Dow Jones Sustainability World Index, and show that even leading financial institutions do not employ proactive practices regarding socially responsible investment and shareholder activism. Finally, we provide examples of two companies, UBS AG and the Co-operative Banking Group, that do utilize proactive practices.
JEL Classification: M14
Suggested Citation: Suggested Citation