Growing Strong in Asia: SRI Proves You Can Win With Principles |
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| Institution: | 1. Associate Professor of Finance, College of Business, 2700 Bay Area Blvd., Box 70, University of Houston – Clear Lake, Houston, TX, 77058, USA;2. Professor of Finance, Department of Finance, MSC 3FIN, College of Business, P.O. BOX 30001, New Mexico State University, Las Cruces, NM 88003, USA;1. Department of Accounting, Finance and Economics, Griffith Business School, Griffith University, Australia;2. Faculty of Economics, Fukui Prefectural University, Japan |
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| Abstract: | Sustainable and responsible investment (SRI) has its roots in religious and political movements in the West. Moving from being a bit of an unknown to being known in Asia, SRI has made its headway in the region and is here to stay. The objective environment — an educated populace, rising social awareness, pension fund development, tougher environmental legislation — is conducive to SRI development. SRI is influential in inducing corporate behavior, as business realizes being socially responsible is a competitive edge. Sustainable development can go hand in hand with economic prosperity as allies.There are hurdles to overcome in developing SRI in Asia. We are yet to see comprehensive research on SRI on Asian enterprises, a benchmark to measure their social performance, and an index to track their share price performance. ASrIA, a not for profit members association devoted to promoting SRI in Asia, helps to speed up its development from mere boardroom discussion to practice in mainstream finance. In doing so, it is important to remember that for SRI to grow healthily in the region, it has to be done in Asia on Asian terms. |
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