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Olaf Weber

The Sustainable Development Goals (SDGs) define the main goals to achieve sustainable development until 2030. It is estimated that $5 to $7 trillion will be needed annually until 2030 to achieve the SDGs, with domestic governments providing up to 80 percent of the funding for the SDGs. Hence, the SDGs might be an opportunity for the financial industry to further establish sustainability principles and to engage in financing sustainable development. This chapter recommends that future research on the topic should address the analysis of negative impacts of banking on the SDGs, contribute to the understanding the net gain of banking on the SDGs; analyzie ng the additionality of SDG finance; help understanding financial risk and opportunity of SDG banking for individual SDGs; explore types of SDG finance products and services.

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Wei Rong Ang and Olaf Weber

In this chapter we analyze the performance of a Korean SRI index, the Dow Jones Sustainability Korea Index (DJSIK), with regard to its financial performance compared to conventional indexes over a span of ten years using daily returns from January 2006 to December 2015. These years include the period of the implementation of Korea’s Green New Deal that was initiated in 2009. Our analysis suggests that DJSIK performed equally to the market benchmark. Generally, the performance and persistence of the SRI index was relatively stable and no different from most of the conventional Korean portfoliosWe found, however that the Korean Green New Deal has a positive impact on the performance of socially responsible investments (SRIs) in Korea. Based on the assessment of downside risks, we conclude that the DJSIK has a lower sensitivity with regard to market returns during bearish conditions. Furthermore, our results suggest that neither negative nor positive shocks have stronger impacts on the volatility of the DJSIK than on conventional indexes.