Pursuing responsible finance in a world of risking risks

Abstract

Pursuing responsible finance in a world of risking risks Marc Brightman and James Christopher Mizes, from the University of Bologna, explore the importance of responsible finance in a world of rising risks. For over a decade, experts have been sounding the alarm about the new risks that crises like climate change, political unrest, and pandemics pose for global financial stability. Financial investors worldwide have joined a chorus of economists, analysts, and central bankers focused on harnessing financial markets’ power to prevent the worst effects of today’s planetary “polycrisis”. (1) And yet, these professionals have long run up against an enormous obstacle: how can the future effects of these crises be anticipated? And who exactly is responsible for preventing them? At the University of Bologna, our team of anthropologists at the Hau of Finance research project is pursuing answers to these pressing political questions by observing what we call “the moral turn” in global finance.