Investors will continue to under-price social and environmental risks unless prompted to change their outlook by government, argues Penny Shepherd
This month’s resurgence of the “greedy bankers” debate distracts from more fundamental problems about the role of the City of London, and other financial centres, in driving – or rather too often not driving – sustainable wealth creation.
There is now a real danger that we may see a huge sigh of relief in the City that the worst is over and it can return to business as usual. Not only may we not get the behaviour change needed to prevent a recurrence of the financial meltdown, but the City may also not shift its practices to prevent future climate, resources and social cohesion crises.
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