| Autor: |
Hiroshige Tanaka, Chiharu Tanaka |
| Jazyk: |
angličtina |
| Rok vydání: |
2022 |
| Předmět: |
|
| Zdroj: |
Green Finance, Vol 4, Iss 3, Pp 329-346 (2022) |
| Druh dokumentu: |
article |
| ISSN: |
2643-1092 |
| DOI: |
10.3934/GF.2022016?viewType=HTML |
| Popis: |
The digital industrial revolution continues to expand the global network of economies and societies. Nevertheless, difficulties of sustainability such as climate change and disruption have become more severe. Multi-stakeholders are crucially important to resolve difficulties posed to sustainability in global communities. Sustainable communities are expected to be constructed through competitive and cooperative schemes of multi-stakeholders. Sustainable global communities must reform centralized economies with top down systems and must move toward decentralized mechanisms known as bottom-up societies. Sustainable investment strategies to support environment, society and governance (ESG) presumably improve social welfare. The main findings presented herein are summarized as explained hereinafter. First, this article describes that multi-stakeholders can introduce a decentralized incentive scheme into global economies and can provide mathematical expressions of sustainable investment strategies. Secondly, the decentralized formulation described herein is used to evaluate the improvement of ESG initiatives by the decrease of social welfare losses. The formulation states mathematically relative relations among the investment strategies. Thirdly, this mathematical model explores the social welfare effects of initiatives to enhance standards, regulations, and legislations. Empirically, one finds that integration strategies have grown remarkably as a core part of social institutional reform for sustainability. Finally, initiatives to improve social evaluation by individuals who are excluded from market transaction are demonstrated to decrease social welfare losses greatly. These findings can promote initiatives to alleviate the disruption difficulties faced by communities. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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