授权投资者促进可持续发展

IF 7.6 1区 经济学 Q1 ECONOMICS Review of Economics and Statistics Pub Date : 2023-04-01 DOI:10.1515/roe-2023-0016
W. Ringe
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引用次数: 0

摘要

当前,向可持续经济的转型涉及市场和市场参与者的根本转变。本文将投资者赋权作为实现资本市场更大可持续性的主要工具。这种对机构投资者的信任基于金融市场供给侧和需求侧的各种最新发展,也基于机构投资者参与共同所有权的日益增长的趋势。因此,在不同类型的资产管理公司或机构投资者之间建立联盟,并说服其他投资者接受任何特定倡议的需求,可以作为一种内置过滤器,帮助克服对特殊动机的追求,只支持那些得到大多数投资者支持的活动。特别是,近年来,制度化的投资者平台已经成为投资者赋权的一股力量,有助于协调投资者活动并分担参与成本。参与ESG有可能成为推动未来更加可持续发展的强大动力。因此,任何监管活动都应限于促进和支持的作用。
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Investor Empowerment for Sustainability
Abstract The transition to a sustainable economy currently involves a fundamental transformation of markets and market actors. This paper makes the case for investor empowerment as the main tool towards achieving greater sustainability in capital markets. This trust in institutional investors is grounded in various recent developments both on the supply side and the demand side of financial markets, and also in the increasing tendency of institutional investors to engage in common ownership. The need to build coalitions among different types of asset managers or institutional investors, and to convince fellow investors of any given initiative, can then act as an in-built filter helping to overcome the pursuit of idiosyncratic motives and supporting only those campaigns that are seconded by a majority of investors. In particular, institutionalized investor platforms have emerged over recent years as a force for investor empowerment, serving to coordinate investor campaigns and to share the costs of engagement. ESG engagement has the potential to become a very powerful driver towards a more sustainability-oriented future. Any regulatory activity should then be limited to a facilitative and supportive role.
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来源期刊
CiteScore
8.50
自引率
0.00%
发文量
175
期刊介绍: The Review of Economics and Statistics is a 100-year-old general journal of applied (especially quantitative) economics. Edited at the Harvard Kennedy School, the Review has published some of the most important articles in empirical economics.
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