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A Damp Squib: Environmental Law from a Human Evolutionary Perspective

Citation

Richardson, BJ, A Damp Squib: Environmental Law from a Human Evolutionary Perspective, Law and Prosociality eJournal, 7, (3) pp. 2-43. (2011) [Refereed Article]

Copyright Statement

Copyright 2011 Law and Prosociality ejournal

DOI: doi:10.2139/ssrn.1760043

Abstract

This article investigates the influence of socially responsible investment (SRI) on the social and environmental impact of the market and corporate behavior. It assesses SRI's influence through five means: (i) to promote SRI as a profitable alternative to conventional investment (ii) to alter the cost of capital of targeted companies, such as by divestment, and thereby to create pressure for improved corporate behavior; (iii) to advocate change within companies as shareholders or lenders, such as by filing shareholder resolutions and informal engagement with corporate management; (iv) to draft codes of conduct for systemic changes across domestic or global financial markets; and (v) to lobby for reform of public policy and official regulation pertaining to the financial economy. The article finds that in all of these means SRI has so far failed to wield exert significant influence, but its most promising means of influence is through advocating legal and policy changes.

Item Details

Item Type:Refereed Article
Keywords:Governance, financial services regulation, socially responsible investment, sustainable development
Research Division:Law and Legal Studies
Research Group:Law
Research Field:Environmental and Natural Resources Law
Objective Division:Law, Politics and Community Services
Objective Group:Community Service (excl. Work)
Objective Field:Environmental Services
Author:Richardson, BJ (Professor Benjamin Richardson)
ID Code:91831
Year Published:2011
Deposited By:Faculty of Law
Deposited On:2014-05-30
Last Modified:2017-10-23
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