The flow of reports and comments in the run-up to both Copenhagen and the final recommendations of the Walker Review continues this week.
“Catalysing low-carbon growth in developing economies: Public Finance Mechanisms to scale up private sector investments in climate solutions” is the latest on “capital” for the low carbon economy. It was launched today by UNEP in partnership with an impressive range of pension, investment and insurance organisations.
Meanwhile, on effective shareholder ownership and “control”, I was struck by this piece “not more regulation, more Responsibility” from Colin Melvin of Hermes in Sunday’s Independent.
Monday, October 26, 2009
Wednesday, October 21, 2009
Is more focus on “having fun” part of the way forward for the finance sector?
As the recent Tomorrow’s Company report “Tomorrow’s Innovation, Risk and Governance” highlights, creating an effective organisational culture is an essential part of building successful and sustainable organisations in the finance sector and elsewhere.
So following my post on the Archbishop of Canterbury’s speech, I was fascinated by this contribution from Cognitive Policy Works on the role of fun (aka motivational psychology) in “saving the world”.
OK, so maybe fun isn’t quite the right term – but what we do need today is more focus on values and culture in the finance sector – and fun isn’t a bad place to start!
So following my post on the Archbishop of Canterbury’s speech, I was fascinated by this contribution from Cognitive Policy Works on the role of fun (aka motivational psychology) in “saving the world”.
OK, so maybe fun isn’t quite the right term – but what we do need today is more focus on values and culture in the finance sector – and fun isn’t a bad place to start!
Monday, October 19, 2009
Archbishop highlights a shared cultural crisis
Creating a more responsible finance sector requires rebuilding its connection to the wider world and rediscovering a sense of both responsibility for the future of the natural world and joy in making a positive contribution. Or at least that was my conclusion after reading a powerful speech by the Archbishop of Canterbury on climate change delivered last week.
The Archbishop talks about a shared cultural crisis that “could be summed up rather dramatically by saying that it’s a loss of a sense of what life is … a web of interactions, mutual givings and receivings”. He talks about “our calling to nourish” life and secure “a future for all living things”.
He says “a good deal of the talk and activity around the financial collapse has the marks of .. ‘displacement activity’ – precisely because it fails to see where the roots of the problem lie; in our amnesia about the human calling” and “whatever we do to combat the nightmare possibilities of wholesale environmental catastrophe has to be grounded not primarily in the scramble for survival but in the hope of human happiness”.
Even if – like me - you don’t share his religious lens, the speech contains valuable and inspiring insights. Many thanks to UKSIF Vice Chair Helen Wildsmith for pointing me to it.
The Archbishop talks about a shared cultural crisis that “could be summed up rather dramatically by saying that it’s a loss of a sense of what life is … a web of interactions, mutual givings and receivings”. He talks about “our calling to nourish” life and secure “a future for all living things”.
He says “a good deal of the talk and activity around the financial collapse has the marks of .. ‘displacement activity’ – precisely because it fails to see where the roots of the problem lie; in our amnesia about the human calling” and “whatever we do to combat the nightmare possibilities of wholesale environmental catastrophe has to be grounded not primarily in the scramble for survival but in the hope of human happiness”.
Even if – like me - you don’t share his religious lens, the speech contains valuable and inspiring insights. Many thanks to UKSIF Vice Chair Helen Wildsmith for pointing me to it.
Thursday, October 15, 2009
Green Bonds and a UK Green Investment Bank: New public policy resource
Green Alliance has just launched a useful new section of its website called Green Finance UK. This aims to cover the developing public policy debates on Green Bonds and a UK Green Investment Bank. Worth checking out!
Tuesday, October 13, 2009
Reforming Ownership and Capital Markets
UKSIF has recently submitted responses to the Walker Review of Corporate Governance of UK banks and other financial institutions and to HM Treasury's 'Reforming Financial Markets' consultation. We have also responded to the second consultation in the 2009 Review of the Combined Code. All three responses can be found here.
Learning from corporate responses to environmental regulation
How can financial institutions best respond to today's regulatory debate?
The article 'Why sustainability is now the key driver of innovation' from September's Harvard Business Review has already been blogged about elsewhere (e.g. here).
But I think it is still worth highlighting that banks and financial institutions could find its model useful in rebuilding trust and profitability. C.K. Prahalad and colleagues propose this five stage model:
The article 'Why sustainability is now the key driver of innovation' from September's Harvard Business Review has already been blogged about elsewhere (e.g. here).
But I think it is still worth highlighting that banks and financial institutions could find its model useful in rebuilding trust and profitability. C.K. Prahalad and colleagues propose this five stage model:
Stage 1: Viewing Compliance as Opportunity
Stage 2: Making Value Chains Sustainable
Stage 3: Designing Sustainable Products and Services
Stage 4: Developing New Business Models
Stage 5: Creating Next-Practive Platforms
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