WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 9, 2012
The Consequences of Climate Change and Social Responsible Behaviour
Authors: Mirela Matei, Catalin Popescu, Irina Gabriela Radulescu
Abstract: Taking in account its implications, the climate change is an economic and social issue. The dimensions of this phenomenon are dramatic and because of that, the international and regional organizations and public have initiated different adaptation and mitigation measures in order to cope with this problem. The private sector is also preoccupied by this topic and financial institutions, companies, portfolio investors and exchanges have tried to adapt to this new challenge. On financial market, the innovation is intense, and in some directions, this phenomenon is determined by climate change. New financial products have been lunched and the interest of investors for these products is high because they have additional speculative and hedging instruments. In addition, the behaviour of public authorities, investors and corporations has been changed, in some extent, by the climate change. For example, the public authorities from developed countries initiated different green public procurement policies, the corporations run social responsible programs with an environmental component, and portfolio investors are focused on environmental, social and governance (ESG) issues in order to make social responsible investment.
Keywords: Mirela Matei, C?t?lin Popescu, Irina Gabriela R?dulescu