Assignment Details:
The role of financial institutions in promoting corporate social responsibility "Banks are the backbone of the global economy, providing capital for innovation, infrastructure, job creation and overall prosperity. Banks also play an integral role in society, affecting not only spending by individual consumers, but also the growth of entire industries." (Cogan, Dougly G. Corporate Governance and Climate Change: The Banking Sector. Ceres, January 2008).
In light of the comment given above, discuss the role that financial institutions can play in promoting corporate social responsibility.
You are required to write a short report in business format, approximately 1000 words (12 font, 1.5 lines spaced), discussing above question. You will be required to define corporate social responsibility (CSR), review the role financial institutions have played in promoting CSR to date and critically evaluate the opportunities and challenges ahead for financial institutions to lead by example as socially responsible entities. You can focus on the role of financial institutions in promoting/improving: financial literacy, sustainable development (be it economic, social, environmental), and/or developing an understanding of the importance of ethics in finance.