This blog was launched nine months ago to track progress in building more sustainable capital markets. Now seems a good time to reflect on this year’s developments. From a UK perspective, which are the most significant signals of future change?
Here is my list of the key trends from 2009:
• Civil society starts to demand a more accountable finance sector
Eg. Anger at remuneration levels, Deepening of NGO research and campaigns
• Politicians, regulators and industry leaders increase support for good governance of asset owners and more responsible ownership of assets
Eg. Lord Myners’ emphasis on “ownerless corporations”, The Pensions Regulator’s governance campaign, the Walker Report’s Stewardship Code recommendations, Personal Accounts Delivery Authority Investment Consultation responses
• Modern green and ethical retail investors and their advisers seek positive ways to make money and make a difference with some of their investments
Eg. YouGov research for National Ethical Investment Week 2009, Conservatives commit to “Green ISAs”
• Stock exchanges deepen their focus on support for sustainability
Eg. World Federation of Stock Exchanges publishes interactive “Exchanges and Sustainable Investment” report, UN hosts sustainable stock exchanges event
• Bonds and other financial instruments for sustainable infrastructure move up the agenda
Eg. HSBC’s Vaccine Bond, second and third issues of World Bank green bonds, the Climate Bonds Initiative
In twelve months time, will these still seem like the key developments in 2009?
Sunday, December 20, 2009
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