The impact of sustainability codes of conduct in the financial sector /

The most well- signatories commit to the measurement and reporting of known of these codes within the financial sector are the the carbon footprint of their equity portfolios. [...] The initiative started as two codes of There is not much research, however, on the actual impact conduct for the banking sector and the insurance sector, of these codes of conduct on the sustainability performance respectively. [...] OF CODES OF CONDUCT Adversely, the results of the studies by Krista Bondy, Dirk There are a number of studies about the impacts of codes Matten and Jeremy Moon (2004; 2008) do not suggest a of conduct on general corporate behaviour, corporate strong impact of voluntary codes of conduct on corporate social responsibility and business practices inside and social responsibility and sustainability. [...] These studies complement independent of the country that the firms are operating in, the research on the content of codes of conduct, such as it is not possible to assume that the presence of a code of the studies of Richard Macve and Xiaoli Chen (2010) and conduct can indicate a higher corporate social performance. [...] Thus, it seems that codes of conduct per se do moderate connection between being a member of the not necessarily have a positive impact on the performance UNEP FI and the integration of sustainability aspects into of the signatory, but that it is the quality of the code that is the lending business.