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Extra-Financial Performance Made Tangible: A Handprint Approach for Financial Institutions

In: Responsible Investment Banking

Author

Listed:
  • Sebastian Philipps

    (Collaborating Centre on Sustainable Consumption and Production)

  • Henrik Ohlsen

    (Association for Environmental Management and Sustainability in Financial Institutions)

  • Christina Raab

    (MADE-BY)

Abstract

The financial industry has been engulfed in a crisis of confidence since 2007. This impacts strategic considerations in the industry and changes the immediate prospects of individual business areas and products. The authors of this chapter argue that financial institutions will face further potentially bigger challenges in the next 15 years. They propose a strategic tool to prepare for these challenges. The so-called handprint approach applies an expanded value concept. It reflects the economic, social and environmental added value generated by a financial institution. In contrast to exclusively risk-centred sustainability approaches, it opens up ways to make sustainability a driver of business development, proactive reputation management and capacity building. This chapter describes the handprint approach and relates it to major concepts such as integrated reporting. It further provides applied examples for how other industries start using the handprint approach and points out potential implications of this trend for the financial industry. Finally, it names specific starting points for using the handprint approach to increase the future viability of financial institutions.

Suggested Citation

  • Sebastian Philipps & Henrik Ohlsen & Christina Raab, 2015. "Extra-Financial Performance Made Tangible: A Handprint Approach for Financial Institutions," CSR, Sustainability, Ethics & Governance, in: Karen Wendt (ed.), Responsible Investment Banking, edition 127, pages 659-672, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-10311-2_44
    DOI: 10.1007/978-3-319-10311-2_44
    as

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