Accountability of FI

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Accountability of FI:

Accountability of FI Banks CAN exert power through their lending decisions Banks often limit themselves to credit checks. Do Financial Institutions have to engage in “ethical” checks ? There is a grey zone. We posit : business with clearly unethical practices should not be funded.

Hardline approach ?:

Hardline approach ? Is a hardline approach at this point devoid of moral worth ? APP has become a prisoner of its industry structure. Bank’s support implies responsibility to help at this point. Refusal can be considered immoral.

Vs.:

Vs. A Perfect Market FIRM: focus on profits and value PUBLIC: sorts out ethics Laws Value

Vs.:

Vs. The Firm The individual Short term value The Environment The community Long term sustainability Vs.

Environmental Issues:

Environmental Issues Environmental issues are to be treated seriously. Dilemma : Individual versus Community Interest in creating goodwill demonstrated by commitment to environment.

Measures to discourage misconduct:

Measures to discourage misconduct Align incentives and rewards with environmentally-sustainable activities Anonymous reporting of breaches Duty to report Codes of conduct