European pension funds and sustainable development: trade-offs between finance and responsibility

Riikka Sievänen; Hannu Rita; Bert Scholtens

doi:10.1002/bse.1954

European pension funds and sustainable development: trade-offs between finance and responsibility

Riikka Sievänen, Hannu Rita, Bert Scholtens

Centre for Responsible Banking and Finance

Research output: Contribution to journal › Article › peer-review

19 Citations (Scopus)

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Abstract

Pension funds try to account for sustainable development in their operations. This mainly translates in socially responsible investing. We investigate how this interacts with the financial objectives. We use a survey among more than 250 pension funds based in 15 European countries. Multinomial logistic regression is used to find out how pension funds trade off sustainable development and financial objectives. Our findings suggest that pension funds that have not included responsibility in their strategy and investments have a clear priority for financial performance, whereas pension funds who integrate sustainable development in their strategy can bring balance between finance and responsibility.

Original language	English
Pages (from-to)	912-926
Journal	Business Strategy and the Environment
Volume	26
Issue number	7
Early online date	28 Mar 2017
DOIs	https://doi.org/10.1002/bse.1954
Publication status	Published - 6 Nov 2017

Keywords

Responsible investment
Sustainable development
Pension funds
Finance
Values
Strategy

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10.1002/bse.1954

BSE-16-0224 Accepted
Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment. This work has been made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at: https://doi.org/10.1002/bse.1954
Accepted author manuscript, 216 KB

Cite this

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European pension funds and sustainable development: trade-offs between finance and responsibility

Abstract

Keywords

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