Fostering Sustainable Business Models Through Financial Markets Magdalena Ziolo by Magdalena Ziolo, Elena Escrig-olmedo, Rodrigo Lozano 9783031073977, 3031073975 instant download after payment.

The risks that, until now, financial markets have taken into account are the traditional financial risks: credit risk, insolvency risk, interest rate risk, market risk, liquidity risk, and even the so-called operational risk that has to do with possible losses derived from inefficiencies in internal controls, and an inadequate operational and technological infrastructure (internal and external). Supervisors of the financial markets are also increasingly regulating governance aspects (e.g., transparency, remuneration, and board composition) and ethical aspects (such as tax havens, financing of terrorism, money laundering, and bribery). In recent years, the importance of risk caused by environmental, social, and managerial factors, or in other words non-financial factors or ESG (environmental, social, governance) factors,1 has been growing, as reported by different reports and analyses. The influence of these factors is visible both in the context of their impact on the financial markets and the economy. Such impacts have multidimensional consequences; they determine the quality of life and the safety of society as well as the costs incurred by market participants. The effects of climate change are particularly severe and at the same time worrying, but the problem of poverty and exclusion due to growing inequalities is a parallel challenge.