According to the United Nations Environment Program (UNEP), a sustainability revolution in the global financial industry is quietly gathering pace. A range of financial institutions are beginning to incorporate sustainable development considerations in their financial decision-making. Investors increasingly realize the need for such forward-looking approach to protect the global economy from climate-induced financial distress.
France recently introduced the world’s first mandatory climate disclosure requirements for institutional investors. The sovereign wealth fund of Norway is divesting from coal. South Africa has incorporated sustainable development into listing requirements on its stock exchange.
Image Credit: Flickr via The Value Web
Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of “The Power of Money” (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations “Decisions for Life” run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.
KEYWORDS: Finance & Socially Responsible Investment, Business & Trade, Green Companies, Cause Global, social innovation, Justmeans, United Nations Environment Program (UNEP)
by Vikas Vij
This post was originally published on 3BLmedia.com
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