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Corporate Social Responsibility

Perspectives for Sustainable Corporate Governance

Catherine Malecki

Corporate social responsibility (CSR) is setting new missions for companies and shining a welcome light on issues such as the behaviour of board members, shared value, the well-being of stakeholders, the protection of vulnerable individuals and the roles played by public opinion and shareholders. This timely book seeks to lay the foundations for a sustainable corporate governance based on the European Commission definition of CSR as ‘the responsibility of enterprises for their impacts on society’. More generally, this sustainable corporate governance responds to some of the pressing challenges of the 21st century, from sustainable finance and climate change to carbon reduction and population growth.
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Chapter 17: Sustainable finance projects

Perspectives for Sustainable Corporate Governance

Catherine Malecki

Extract

Climate change is opening up new future possibilities for sustainable finance. These will involve financing measures to implement CSR and renewable energy programmes. The aim, not only internationally in the wake of the Paris Agreement, but also at European level, is to put in place carbon reduction programmes with quantitative targets on reducing greenhouse gas emissions. As a result of this Green New Deal, a social, humanitarian finance is emerging in the form of green bonds, thanks in part to the Green Bond Principles (GBP), and social bonds. Other environmental financial instruments are also being created, some of which focus, for example, on protecting biodiversity or preventing environmental damage. This could raise questions over the need for an environmental financial instruments market and associated requirements on best practice and transparency. The relationship between crowdfunding and CSR could also be worth exploring further.

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