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Sustainable Development Concept

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Nevertheless, the sustainable development concept has drawbacks. Soppe (2009) points out the sustainable development concept are ambiguous and vague in some points, which makes policymaking more difficult. Furthermore, it emphasizes that environment tends to erode economic growth, where a good environment comes together with economic growth. The two concepts are complements, not substitutes.

This thesis studies on DJSI emerging markets index constituents. To construct such index, RobecoSAM are using the corporate sustainability assessment criteria , which consist of in-depth analysis criteria to assess each company on financially relevant economic, environment, and social factors. Furthermore, the corporate governance is included in the assessment criteria and it is embodied in the economic sector.

2.1.2 Sustainable corporate finance
CSR literature is commonly used as a base for sustainable corporate finance (Soppe, 2009). The basic idea of CSR is that business and society are interrelated. The business-society concept is then developed into new theories regarding CSR (Dierkes & Antal, 1986). In the book of Social Responsibilities of the Businessman by Bowen (1953) these new theories are argued as the …show more content…

Carroll & Shabana (2010) point that companies who implementing corporate sustainability activities will rewards economically and financially by the market. For instance, sustainability could impact a company’s financial performance for example by cost saving or improving company’s brand image to strengthen customers’ loyalty. Furthermore, sustainable companies are expected to have stable and sufficient cash flows, so they will be better able to pay off their debt. The more the company shows to stakeholders that their business is associated with strong sustainability policies, the risks associated with that company is

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