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Sustainable Finance: A case study of Swedish Banks' engagement in Sustainable Development Goals

Rukundo, Felicien Come LU (2024) MIDM19 20231
Department of Human Geography
LUMID International Master programme in applied International Development and Management
Abstract
Sustainable finance incorporates actions and policies for economic development, social inclusion, and environmental sustainability. The development of the Sustainable Development Goals (SDGs) by the United Nations became a guide for the transformation towards sustainability and social inclusion. This case study examines the motivations of Swedish Banks’ engagement in sustainable development issues by applying Rettberg (2016) three reasons for businesses’ engagement in issues outside the core business activities, “Need, Creed, and Greed”. The “need” to reduce risk exposure to the businesses because of climate-related factors but also secure new business opportunities; the “creed” could be the willingness to “do good” or “do no harm”, move... (More)
Sustainable finance incorporates actions and policies for economic development, social inclusion, and environmental sustainability. The development of the Sustainable Development Goals (SDGs) by the United Nations became a guide for the transformation towards sustainability and social inclusion. This case study examines the motivations of Swedish Banks’ engagement in sustainable development issues by applying Rettberg (2016) three reasons for businesses’ engagement in issues outside the core business activities, “Need, Creed, and Greed”. The “need” to reduce risk exposure to the businesses because of climate-related factors but also secure new business opportunities; the “creed” could be the willingness to “do good” or “do no harm”, move beyond profit-making, and contribute to a healthier planet for future generations; and “greed”, as the necessity to keep operations running and protect revenue. The results of the study show that there is no single reason for engagement, rather the complex nature of exposure to sustainable risk is expressed by most as the leading reason for commitment to sustainable development. Emphasis is put on the need for stabilization of the financial system while considering the impact on the environment and society they operate in. In addition, government policies and regulations play a fundamental role in long-term engagements. (Less)
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author
Rukundo, Felicien Come LU
supervisor
organization
course
MIDM19 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Sustainable finance, Sustainable Development Goals, Agenda 2030, Paris Agreement, Need, Creed, Greed
language
English
id
9147554
date added to LUP
2024-02-14 09:46:00
date last changed
2024-02-14 09:46:00
@misc{9147554,
  abstract     = {{Sustainable finance incorporates actions and policies for economic development, social inclusion, and environmental sustainability. The development of the Sustainable Development Goals (SDGs) by the United Nations became a guide for the transformation towards sustainability and social inclusion. This case study examines the motivations of Swedish Banks’ engagement in sustainable development issues by applying Rettberg (2016) three reasons for businesses’ engagement in issues outside the core business activities, “Need, Creed, and Greed”. The “need” to reduce risk exposure to the businesses because of climate-related factors but also secure new business opportunities; the “creed” could be the willingness to “do good” or “do no harm”, move beyond profit-making, and contribute to a healthier planet for future generations; and “greed”, as the necessity to keep operations running and protect revenue. The results of the study show that there is no single reason for engagement, rather the complex nature of exposure to sustainable risk is expressed by most as the leading reason for commitment to sustainable development. Emphasis is put on the need for stabilization of the financial system while considering the impact on the environment and society they operate in. In addition, government policies and regulations play a fundamental role in long-term engagements.}},
  author       = {{Rukundo, Felicien Come}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Sustainable Finance: A case study of Swedish Banks' engagement in Sustainable Development Goals}},
  year         = {{2024}},
}