This paper examines the mainstream theories of "financial sustainability" and "financial development". It is suggested understanding "financial development" as the complex dynamic characteristics of the financial sector, which is formed under the influence of financial and economic policy...

National and international lawmakers are increasingly focusing on sustainability reporting as a way to foster socially and environmentally responsible corporate conduct. Within the European Union, Directive 2014/95/EU has introduced reporting obligations for certain large enterprises on a...

Australia’s financial sector entered the COVID-19 crisis in a strong position, enabling it to play a key role in cushioning the pandemic’s impact. Once the national economy reopens, policymakers will turn their focus to securing a robust, sustainable and inclusive recovery. However, low...

This study documents a significant and positive impact of country-level sustainability scores on cross-border bank-to-nonbank flows. This result is robust after mitigating endogeneity concerns by applying instrumental variable regression, generalized method of moments estimation, Fama-MacBeth...

Banks might now seem odd candidates for the role of global sustainability regulator. Nonetheless, in limited areas of their operation, where global banks kept risk on their balance sheets and were financially exposed to many types of risk often otherwise treated as “externalities,” banks...