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Reforming Climate Finance through Investment Codes of Conduct

Citation

Richardson, BJ and Cragg, W, Reforming Climate Finance through Investment Codes of Conduct, Wisconsin International Law Journal, 27, (3) pp. 481-512. ISSN 0743-7951 (2009) [Refereed Article]

Abstract

Whether environmentally conscious investors can help abate climate change, and thereby put the economy on more sustainable foundations, is an important question for policy-makers to consider. The long-standing movement for socially responsible investment (SRI), which seeks to harness the resources and power of the financial sector as a catalyst to change corporate social and environmental behavior, has become increasingly concerned about a warming climate. The SRI movement not only seeks to target individual corporate polluters through divestment, shareholder activism, and other mechanisms of pressure; but it has also begun to promote a framework for more systemic change through the propagation of various investment codes of conduct. 1 Some of these codes specifically address global warming, such as the Climate Principles and the Carbon Disclosure Project, while others seek to promote SRI more generally, such as the United Nations Principles for Responsible Investment. 2 This Article assesses the contribution of SRI to climate change and in particular critiques whether the new SRI codes of conduct offer an effective way of improving how investors respond to global climate change issues.

Item Details

Item Type:Refereed Article
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:91845
Year Published:2009
Deposited By:Faculty of Law
Deposited On:2014-05-30
Last Modified:2014-05-30
Downloads:0

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