Karen Wendt Editor. Responsible Investment. Banking. Risk Management Frameworks, Sustainable Financial Innovation and Softlaw Standards.

Transcription

1 Karen Wendt Editor Responsible Investment Banking Risk Management Frameworks, Sustainable Financial Innovation and Softlaw Standards ^ Springer

2 Contents Editor's Contribution 1 Karen Wendt Fit-for-Purpose and Effective Environment, Social and Governance (ESG) Management: ESG Implementation Challenges, Concepts, Methods and Tips for Improvement 43 Alexander Cox Challenges and Advantages of IFC Performance Standards: ERM Experience 59 Elena Amirkhanova and Raimund Vogelsberger EBRD Environmental and Social Governance Standards and Their Impact on the Market 71 Dariusz Prasek Implementing Environmental and Social Risk Management on the Ground: Interfaces Between Clients, Investment Banks, Multi-laterals, Consultants and Contractors: A Case Study from the EBRD 81 Debbie Cousins Translating Standards into Successful Implementation: Sector Policies and Equator Principles 109 Eric Cochard The Equator Principles: Retaining the Gold Standard - A Strategie Vision at 10 Years 123 Suellen Lambert Lazarus Development Banking ESG Policies and the Normativisation of Good Governance Standards 143 Owen Mclntyre xiii

3 xiv Contents Environmental and Social Risk Management in Emerging Economies: An Analysis of Turkish Financial Institution Practices 157 I il Gültekin and Cem B. Avci More Fun at Lower Risk: New Opportunities for PRI-Related Asset Management of German Pension Insurance Funds 173 Christian Henrich and Henry Schäfer Hard Labour: Workplace Standards and the Financial Sector 193 Steve Gibbons UBS and the Integration of Human Rights Due Diligence Under the United Nations (UN) Protect, Respect and Remedy Framework for Business and Human Rights 205 Liselotte Arni, Yann Kennode, Christian Leitz, and Alexander Seidler Strengthening the 'S' in ESG: What New Developments in Human Rights and Business Bring to the Table for Investors 217 Margaret Wachenfeld The Social Reform of Banking 235 Cynthia A. Williams and John M. Conley The Global Reporting Initiative Guidelines and Externa! Assurance of Investment Bank Sustainability Reports: Effective Tools for Financial Sector Social Accountability? 251 Niamh O'Sullivan Are the Equator Principles Greenwash or Game Changers? Effectiveness, Transparency and Future Challenges 267 Ariel Meyerstein An Investigation on Ecosystem Services, the Role of Investment Banks, and Investment Products to Foster Conservation 285 Sonal Pandya Dalal, Curan Bonham, and Agustin Silvani Mobilising Private Sector Climate Investment: Public-Private Financial Innovations 301 Shally Venugopal Implementing ESG in the Financial Sector in Russia: The Journey Towards Better Sustainability 325 Alexey Akulov Implementing International Good Practice Standards: Pragmatism Versus Philosophy 333 L. Reed Huppman Tipping Points: Learning from Pain 339 Herman Mulder

4 Contents xv Sustainable Private Equity Investments and ESG Due Diligence Frameworks 349 Gavin Duke In Principle Good: The Principles for Responsible Investment 359 Rolf D. Häßler and Till Hendrik Jung Investing in the ESIA and Stakeholder Engagement Process to Improve Project Bankability 371 Elizabeth van Zyl Positive Impact Business and Finance: A Challenge for Industries and Services, A Preeminent Role for the Financial Sector 389 Denis Childs Adopting EP in India: Challenges and Recommendations for Future EP Outreach 401 Alok Dayal and Ashok Emani CSR Reporting and Its Implication for Socially Responsible Investment in China 417 Olaf Weber and Haiying Lin Sustainability on Planet Bank 427 Heffa Schücking Sex Matters: Gender Differences in the Financial Industry 439 Alexandra Niessen-Ruenzi Women on Board: Female Supervisory Board Members in Shareholder Circles and Their Role in Changing Risk Culture and Sustainable Management 445 Monika Schulz-Strelow Corporate Social Responsibility in Modern Central and Eastern Europe 453 Heidrun Kopp 10 Years' Equator Principles: A Critical Appraisal 473 Manuel Wörsdörfer The New Development Cooperation: The Importance of the Private Sector 503 Nanno Kleiterp Respecting Human Rights in Investment Banking: A Change in Paradigm 509 Christine Kaufmann Fiduciary Duty and Responsible Investment: An Overview 527 Christine Berry

5 XVI Contents The Gase for Environmental and Social Risk Management in Investment Banking 535 Olivier Jaeggi, Nina Kraschwitz, and Raul Manjarin Responsible Investment Banking and Asset Management: Risk Management Frameworks, Soft Law Standards and Positive Impacts Jonathon Hanks How Private Equity Models and Practitioners Can Advance Impact Investing in Emerging Markets 563 EMPEA The Opportunity for Bonds to Address the Climate Finance Challenge 575 Sean Kidney and Bridget Boulle Prepared for the Future? ESG Competences Are Key 601 Katharina Serafimova and Thomas Vellacott Stakeholder Engagement Model: Making Ecotourism Work in Peru s Protected Areas 609 Alicia De la Cruz Novey Why Not? Sustainable Finance as a Question of Mindset: A Plea for a Confident Sustainable Business Strategy 625 Dustin Neuneyer Managing Assets in a Complex Environment: An Innovative Approach to Sustainable Decision-Making 641 Barnim G. Jeschke Extra-Financial Performance Made Tangible: A Handprint Approach for Financial Institutions 659 Sebastian Philipps, Henrik Ohlsen, and Christina Raab After word 573 Damien Wynne