engleski

The impact of policy instruments on the application of sustainable development principles in financial investment decisions

Interest for sustainable development is increasing daily among different stakeholders, including general public, community, media, state, companies and financial sector. In field of finance, the application of sustainable development principles is primarily reflected in socially responsible investment, aiming at achieving competitive long-term financial returns and wider benefits for society. A strong development of socially responsible investment in the last two decades is a phenomenon intriguing both researches and professionals. However, national markets of such investment differ significantly, regarding their value, institutional framework, forms of investment etc. Among other factors, these differences are a result of policy instruments implemented to encourage socially responsible investment. In line with other research papers, this factor has an impact, stronger or weaker, on a development of socially responsible investment market. The aim of this paper is to provide an in-depth research of policy instruments used in countries of Europe and worldwide, and to investigate their impact on a development of socially responsible investment. On the basis of this analysis adequate instruments for fostering such financial investment in Croatia are proposed, taking into consideration its national specificities.

socially responsible investment; sustainable development; policy instruments

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