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Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. [ 107 ]
Ethical banking is a relatively new sector and this relatively undeveloped nature causes some problems. These problems can be divided into two categories: the first concerns depositors, and the second concerns ethical banks. In the first category lies the issue of understanding how ethical banks measure or qualify their ethical policies.
Sustainability reports can help companies build consumer confidence and improve corporate reputations through transparent disclosure on social responsibility programs and risk management. [4] Such communication aims to give stakeholders broader access to relevant information outside the financial sphere that also influences the company's ...
These efforts include initiating conversations with corporate management on issues of concern, and submitting and voting proxy resolutions. These activities are undertaken with the belief that social investors, working cooperatively, can steer management on a course that will improve financial performance over time and enhance the well-being of ...
2013 resulted in the first International Banking on Values Day, the creation of the Europe and North America regional chapters, as well as the Berlin Declaration. [16] In 2014, the GABV's scorecard, a set of common impact metrics, which allows banks to report their social impact of a bank through a harmonised method, was launched. [17]
[3] [4] Other important factors include the globalisation of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; [11] the 2007–2008 financial crisis; international trade imbalances; real estate bubbles that have since burst; the Great Recession of 2008–2012; fiscal policy ...
The Accounting Experts Group (AEG): ensures that accounting and auditing standards help promote sound risk management thereby maintaining the safety and soundness of the banking system Audit subgroup: explores key audit issues and co-ordinates with other bodies to promote standards