Corporate social responsibility of financial sector institutions in the light of sustainable development goals financing: the role of banks and stock exchanges
| Autor: | Inna Makarenko, Yulia Yelnikova, Anna Lasukova, Abdul Rahman Barhaq |
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| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: | |
| Zdroj: | Public and Municipal Finance, Vol 7, Iss 3, Pp 1-14 (2018) |
| Druh dokumentu: | article |
| ISSN: | 2222-1867 2222-1875 |
| DOI: | 10.21511/pmf.07(3).2018.01 |
| Popis: | Significant gap in investment resources for financing Sustainable Development Goals can be overcome with the revitalization of the corporate social responsibility mechanism of the financial sector institutions, for example banks and stock exchanges as the largest players in the global financial sector. The most relevant for them are Goals 1, 5, 8, 10, 13, 17. Incorporating these goals into activities of the financial sector institutions requires not only the activation of their CSR mechanism in the directions indicated by the targets, but also the radical restructuring of all business processes and the reorientation of their overall sustainability strategy. Analysis of current sustainability reporting disclosure by financial sector institutions in global and regional aspects was conducted. Based on the analysis, the authors define the role of CSRs of banks and stock exchanges in SDG financing as follows: banks – ensuring their own sustainability and efficiency through CSR mechanisms, formation of new tools, methods and technologies of financial support of SDG; stock exchanges – minimization of information asymmetry in investor decision making, taking into consideration ESG criteria, formation of exemplary disclosure practices and new markets and market benchmarks by listing companies. |
| Databáze: | Directory of Open Access Journals |
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