Podcast: How can we build a more responsible capitalism?

BusinessGreen staff
clock
Capitalism has been facing growing pressure from social movements such as Extinction Rebellion | Credit: Julia Hawkins
Image:

Capitalism has been facing growing pressure from social movements such as Extinction Rebellion | Credit: Julia Hawkins

Matt Crossman of Rathbones Investment Management believes capitalism is under huge pressure for change, and argues sustainable finance can be a key part of the solution

Mike Sheen and Lauren Mason of Investment Week - BusinessGreen's sister title - sit down for a special festive edition of their regular podcast The Top Down, in which they chat to Matt Crossman, stewardship director at Rathbones Investment Management, about the concept of 'responsible capitalism'.

Crossman believes capitalism is under pressure like never before, highlighting major social movements such as Extinction Rebellion and its mantra calling for "system change, not climate change".

But he argues that despite its current faults and failings, if capitalism is fully aligned with purpose, social responsibility and long-term thinking, it can in fact deliver huge societal benefits in a way no other system can.

Responsible capitalism, Crossman believes, is in everyone's best interests and can help shift move markets to tackle the climate emergency. He therefore calls on investors to integrate environmental social governance (ESG) factors into their in decision making, and for business to affirm the benefits of responsible capitalism to their stakeholders.

Crossman also explains how a major uptake in the UK's investment stewardship code - which takes effect from January 2020 - and the development of clear investment product labelling can together help foster wider sustainable investment behaviour both among consumers and within the financial sector alike.

This podcast originally appeared at Investment Week

More on Investment

Starbucks and Hubbub announce new fund to support reusable and refillable packaging innovations

Starbucks and Hubbub announce new fund to support reusable and refillable packaging innovations

Innovators can receive up to £300,000 to support projects that limit the impact or use of single-use packaging

clock 11 May 2022 • 3 min read
Around 295GW of new renewable power capacity was brought online in 2021, according to the IEA

IEA: World added record renewable power capacity in 2021, despite cost and logistical challenges

Energy body predicts another bumper year for renewables this year, but warns policies introduced in next six months will determine whether momentum can be maintained beyond 2022

Cecilia Keating
clock 11 May 2022 • 3 min read
BlackRock manages around $10tr assets worldwide

'Not in long-term financial interests': BlackRock cools on support for shareholder climate resolutions

World's largest asset manager argues climate resolutions filed by shareholders are increasingly too 'prescriptive' as it signals plans to support fewer such resolutions this year

clock 11 May 2022 • 3 min read