A case study of ethical/green/environmental funds, corporate governance and stakeholder management
通过问卷调查英国20只绿色伦理环境基金，发现基金经理声称代表投资者利益并促进企业绿色行为，但实际影响有限，基金仍受传统金融工具主导。
Abstract This paper investigates how far green, ethical and/or environmental funds are deployed to represent the interests of the individual investors and to what extent the business community is encouraged to adopt ‘greener’ behaviour. Data were collected through a questionnaire and developed in the form of a case study. Twenty green ethical and environmental funds were surveyed in the UK. The main findings are that fund managers claim that their funds are invested on behalf of the investors. They see their fund promoting the ethical/environmental values of the investors. Fund managers further think that they have an influence on companies they invest in and believe in encouraging companies to become better corporate citizens. There is, however, little evidence of funds' action on companies. While green/ethical funds, and more generally the financial community, are potentially powerful instruments of change, they are, however, still very much governed by conventional financial tools and criteria.