Socially Responsible Investment As Emergent Risk Prevention and Means to Imbue Trust In The Post-2008/2009 World Financial Crisis Economy

Authored by: Julia M. Puaschunder

Routledge Handbook of Social and Sustainable Finance

Print publication date:  June  2016
Online publication date:  June  2016

Print ISBN: 9781138777545
eBook ISBN: 9781315772578
Adobe ISBN: 9781317678830

10.4324/9781315772578.ch14

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Abstract

Globalization, political changes, and societal trends, but in particular the current world economy, have leveraged the societal demand for social responsibility in market systems to regain trust in the global economy (The Economist, July 7, 2012). Our time has been referred to as the “Age of Responsibility” in US President Barack Obama’s 2009 inauguration speech (Washington Post, January 21, 2009). In the wake of the 2008 financial crisis, President Obama called for a new spirit of responsibility that serves the greater goals of society. Former World Bank President Robert Zoellick describes the “new era of responsibility” as featuring “changed attitudes and co-operative policies” that promote responsible corporate conduct (Zoellick, 2009).

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