What is it about?
Traditionally, the finance discipline allows prioritization of financial returns at the expense of the stability of planetary, environmental and social systems. The practice of finance must be reformed so that funds are allocated consistent with societal values as they relate to the 17 Sustainable Development Goals in order to safeguard communities and social justice.
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Why is it important?
Fund allocation decisions, if they are based on relevant science, can help to support our societal systems instead of destabilizing them.
Perspectives
Profit seeking often benefits selected individuals at the expense of the common good. But finance can also be used to benefit society as whole.
Carolin Schellhorn Schellhorn
Saint Joseph's University
Read the Original
This page is a summary of: The value of societal values in finance, International Journal of Ethics and Systems, October 2023, Emerald,
DOI: 10.1108/ijoes-08-2023-0178.
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