Abstract
Sustainable and responsible investment (SRI) could be defined as the type of investment which aims to achieve financial returns while performing in terms of extra-financial aspects, such as social, environmental, governance and ethical objectives. In recent years, interest in SRI funds has been growing. It leads to a profusion of labels and funds claiming to be responsible and sustainable. As a result, new roles and specific SRI-service providers have emerged, such as labeling and rating agencies or SRI-auditors among others. Nevertheless, these emergent SRI-services remain unregulated, partially due to the novelty and constant evolution of this domain. The SRI funds’ value network could be considered as a tailored investment funds value network. This paper aims to contribute to achieving better understanding of the specificity of SRI fund industry and involved stakeholders. It contributes to the formalization of the roles within the SRI- specific value chain with goal-and-value-modeling languages.
Highlights
Sustainable and responsible investment (SRI) could be defined as the “type of investment which aims to achieve financial returns while performing in terms of extra-financial aspects, such as social, environmental, governance and ethical objectives”, as proposed in Vermeulen, C., Mention, A.L. (2011a)
This paper aims to contribute to achieving better understanding of the specificity of SRI fund industry and involved stakeholders
This paper aims to identify the stakeholders participating to the SRI-specific value network and proposes to analyse their mutual exchanges
Summary
Sustainable and responsible investment (SRI) could be defined as the “type of investment which aims to achieve financial returns while performing in terms of extra-financial aspects, such as social, environmental, governance and ethical objectives”, as proposed in Vermeulen, C., Mention, A.L. (2011a). The interest in SRI has been growing and new SRI-specific actors and roles have emerged They provide services of marketing, labeling, rating, audit, etc., and contribute to the value chain specific to this type of investment. With the profusion of labels and funds claiming to be responsible and sustainable, the potential investor may find it difficult to discern which SRI aspects are covered by each label, and be confused with the existing investment offers. This situation calls for establishing the regulative framework enabling better control of SRI-related activities. It should in the first place enable a clear distinction of roles and responsibilities of different SRI stakeholders
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