Sustainable Economic Development
In today’s world, to promote a sustainable and long-term successful economic development, ecological and social concerns are as important as pure economic factors. The concept of sustainability was first introduced 300 of years ago by German public administrator Clausewitz in relation to the ‘sustainable’ management of the forestry: “To be the best utility for the heating, building, brewing, mining and smelting activities requires the careful management of sustainable forestry resources.“ (Source: Hans Carl von Carlowitz ‚Sylvicultura oeconomica‘)
The term ‘ Sustainability’, as we understand it today, was fundamentally shaped by former Norwegian Prime Minister Gro Harlem Brundtland, chairman of the World Commission on Environment and Development (Brundtland Commission):
"Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It contains within it two key concepts:
• the concept of needs, in particular the essential
needs of the world's poor, to which overriding
priority should be given; and
• the idea of limitations imposed by the state of
technology and social organization on the
environment's ability to meet present and future
needs." (Source: Brundtland Report/ Our
The NSII aims to positively influence Russian economic development through our Educational programs, events and conferences as well as through scientific research on that matter.
SRI – Sustainable and Responsible Investments
Investors in Sustainable and Responsible Investments (SRI) consider environmental and social factors in the same way as they emphasize performance, liquidity and risk when they take investment decisions.
The market for Sustainable investments and related services, commonly known as Sustainable and Responsible Investments (SRI) is becoming larger and more diverse by the day. All over the globe, especially in Western Europe and in North America, a growing number of investors incorporate environmental, social and ethical as well as corporate governance factors in their investment objectives.
Sustainable Investments in Russia
There are multiple reasons to opt for Sustainable and responsible Investments. Some investors place emphasis on the moral aspects of their investment decisions and thus favor Sustainable and responsible investments. But as a large number of academic studies clearly demonstrate, SRI mutual funds show a comparable performance to conventional funds (www.fsinsight.org). So, even performance seeking investors with exclusively financial objectives will decide to allocate capital into SRI’s. For most investors, the social and financial aspects are equally important when they take investment decisions.
‚Corporate Social Responsibility’ (CSR) comprises all the activities and efforts of corporations to promote a sustainable and socially responsible economic development. To emphasize, these efforts are not limited to mandatory requirements (‘compliance’) but encompass a large spectrum of voluntary actions. CSR stands for a responsible corporate behavior in regard to:
• Common business activities
• The environment
• Relation with employees
• External Stakeholder relation
Please see here our resources and to our seminars.