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Towards Sustainable Finance Conceptualization

In: Corporate Social Responsibility, Ethics and Sustainable Prosperity

Author

Listed:
  • Sonia Rebai
  • Mohamed Naceur Azaiez
  • Dhafer Saidane

Abstract

In this chapter, we present and analyze the main tentative definitions of sustainable finance as encountered in the literature. These definitions constitute some alternatives to the conventional finance that seems to be unable to meet the challenges of the 21st century. Our discussion extends to explore the shortcomings of these restrictive definitions and displays a number of related concepts including corporate social responsibility, socially responsible investments, ethical investments, and cleaner production. We also propose a definition that attempts to be somewhat exhaustive and may represent a starting point towards a universally recognized definition. Our approach in developing the suggested definition is based on building five principles that complete and generalize existing ones. In particular, our principles inject important aspects such as the win–win model among all stakeholders, the intergeneration, the sustainable growth, some new behaviors and practices both at the micro and macro-levels, while preserving the fundamentals of conventional finance.

Suggested Citation

  • Sonia Rebai & Mohamed Naceur Azaiez & Dhafer Saidane, 2019. "Towards Sustainable Finance Conceptualization," World Scientific Book Chapters, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Corporate Social Responsibility, Ethics and Sustainable Prosperity, chapter 13, pages 363-386, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811206887_0013
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    Citations

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    Cited by:

    1. Jingcheng Li & Menggang Li & Tianyang Wang & Xiuqin Feng, 2023. "Analysis of the Low-Carbon Transition Effect and Development Pattern of Green Credit for Prefecture-Level Cities in the Yellow River Basin," IJERPH, MDPI, vol. 20(5), pages 1-22, March.
    2. Magdalena Ziolo & Beata Zofia Filipiak & Iwona Bąk & Katarzyna Cheba & Diana Mihaela Tîrca & Isabel Novo-Corti, 2019. "Finance, Sustainability and Negative Externalities. An Overview of the European Context," Sustainability, MDPI, vol. 11(15), pages 1-35, August.

    More about this item

    Keywords

    Corporate Social Responsibility; Ethics; Sustainable Prosperity; Corporate Decision Making; Corporate Social Performance; Fraud; Microfinance Institutions; Financial Institutions; Environmental Performance; Corporate Governance; Value Creation; Circular Economy; Asian Infrastructure Investment Bank; Green Finance; Sustainable Value Money; Turkish Banking Sector; Lending Decisions;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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