{"id":145,"date":"2020-11-01T10:00:07","date_gmt":"2020-11-01T10:00:07","guid":{"rendered":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/?p=145"},"modified":"2021-05-03T13:32:58","modified_gmt":"2021-05-03T11:32:58","slug":"where-are-we-headed-with-sustainability-and-ethics-in-the-banking-sector","status":"publish","type":"post","link":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/2020\/11\/01\/where-are-we-headed-with-sustainability-and-ethics-in-the-banking-sector\/","title":{"rendered":"Where are we headed with Sustainability and Ethics in the Banking Sector?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Sustainability, and especially Ethics, are not the first words that come to one\u2019s mind when thinking about the Banking Industry. Although banking activities are largely based on trust, banks do not benefit from a positive image. Scandals of money laundering, links to cartels, and terrorist organisations have generated quite a lot of bad publicity for the sector. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"666\" src=\"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/10\/Banks-and-Ethics-V2.jpg\" alt=\"\" class=\"wp-image-192\" srcset=\"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/10\/Banks-and-Ethics-V2.jpg 1000w, https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/10\/Banks-and-Ethics-V2-300x200.jpg 300w, https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/10\/Banks-and-Ethics-V2-768x511.jpg 768w, https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/10\/Banks-and-Ethics-V2-850x566.jpg 850w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In recent times, sustainability has gained a lot of attention and momentum in the banking sector, especially after the financial crises of 2008-09. The United Nations has recently launched a new framework for driving sustainability in the banking system: Principles for Responsible Banking. The objective is to help the industry to demonstrate how it can make a positive contribution to society.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do global guidelines sincerely increase banks\u2019 positive impact on the society? Are they just a way to polish their&nbsp;image? Is it banks\u2019 role to steer other businesses, via their financing decisions, toward more responsible activities? How can banks stop money laundering? <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this episode, Emilia V\u00e4h\u00e4maa, Associate\nProfessor in Finance at Hanken is discussing these very questions with Nebojsa\nDimic, Assistant Professor at the University of Vaasa and Mika Leskinen, Chief\nInvestment Officer and Head of ESG at FIM. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Will the banks play an increasing role in steering the sustainable changes that the world needs? As we say \u201c<em>the one who has the money can set the rules<\/em>\u201d, so hopes are high! But can we trust the banks in changing the world for the better? <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/anchor.fm\/hanken-schoolofeconomics\/episodes\/Sustainability-Unwrapped-Sustainability-and-Ethics-in-the-Banking-Sector-elpjve\">Tune in<\/a><\/strong> to form your opinion! <\/p>\n\n\n\n<figure class=\"wp-block-embed-spotify wp-block-embed is-type-rich is-provider-spotify wp-embed-aspect-21-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Spotify Embed: Sustainability Unwrapped: Sustainability and Ethics in the Banking Sector\" style=\"border-radius: 12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/4nx0F3gOvaN1ObIpSZuiKc?si=euloAostQN-V-igCe3IZog&amp;utm_source=oembed\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<div class=\"wp-block-file\"><a href=\"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/11\/E02_Va_ha_maa.pdf\">Episode 1 transcript<\/a><a href=\"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-content\/uploads\/sites\/11\/2020\/11\/E02_Va_ha_maa.pdf\" class=\"wp-block-file__button\" download>Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sustainability, and especially Ethics, are not the first words that come to one\u2019s mind when thinking about the Banking Industry. Although banking activities are largely based on trust, banks do not benefit from a positive image. Scandals of money laundering, links to cartels, and terrorist organisations have generated quite a lot of bad publicity for [&hellip;]<\/p>\n","protected":false},"author":126,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,113,109,116,110,111],"tags":[6,9,5,7,10,8],"class_list":["post-145","post","type-post","status-publish","format-standard","hentry","category-affordable-and-clean-energy","category-climate-action","category-industry-innovation-and-infrastructure","category-peace-justice-and-strong-institutions","category-reduced-inequalities","category-sustainable-cities-and-communities","tag-bank","tag-banking-sector","tag-blog","tag-csr","tag-money-laundering","tag-principles-for-responsible-banking"],"_links":{"self":[{"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/posts\/145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/users\/126"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/comments?post=145"}],"version-history":[{"count":14,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/posts\/145\/revisions"}],"predecessor-version":[{"id":1014,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/posts\/145\/revisions\/1014"}],"wp:attachment":[{"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/media?parent=145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/categories?post=145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.hanken.fi\/sustainability-unwrapped\/wp-json\/wp\/v2\/tags?post=145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}