Although early-stage finance is critical to the growth of most ventures, it is even more important for social ventures as they face the challenges of balancing their social and commercial objectives. Drawing on institutional logics and signaling theory, this study uses a panel data set of 3,401 nascent social ventures to investigate the important role philanthropic grant funding plays in the organizational and financial development of social ventures. We find mixed results, with positive effects on employment and subsequent access to (...) debt finance, but no effects on revenues and access to equity. Our findings connect these theories by suggesting philanthropic grants provide social ventures with flexibility to invest in human capital without pushing them to pursue short-term financial objectives, and that receiving a philanthropic grant provides a signal that is interpreted differently by debt and equity financiers. These findings are especially relevant as funders increasingly use grants to support social entrepreneurship. (shrink)

This case examines BP company’s launch of a new global brand - under the banner of “Beyond Petroleum” and a new logo – a vibrant sunburst of green, while, and yellow – in 2000. The case also analyzes the series of environmental health and a safety problem BP suffered since the launch of the “Beyond Petroleum” campaign and explores what important lessons that can be drawn for companies that might be considering sustainability factors in their branding strategies.

This paper examines the rise of socially responsible investment (SRI) as a sustainable finance mechanism and discusses the potential of SRI in steering the banking and financial services industry toward a more socially responsible and environmentally sound model of commerce. I argue in this paper that the potential of SRI to serve as a sustainable business mechanism to steer the global financial market toward a new ethical architecture depends on two related factors: (a) continuing institutional and social pressures forgreater corporate (...) transparency, and (b) the ability of SRI to become a viable financial instrument outside its traditional markets in emerging and developing economies. (shrink)

Despite the attention given to China’s rising importance in the international marketplace, I argue that corresponding attention has not been given to the sustainability dimensions—the social and environmental dimensions of this economic development trajectory. Specifically, what type of business strategy can and will best serve the economic, environmental, and social needs of China, and what role, if any, can the private sector play to facilitate the development of such a strategy? In exploring this question, I first examine the evolving relationship (...) between business and sustainable development. I then outline the sustainability challenge within the regional context in the Asia-Pacific region. Finally, I analyze sustainability challenges posed by China’s rise in the global economy and assess the impacts of these challenges on current and future business strategies. (shrink)

This paper examines the rise of socially responsible investment (SRI) as a sustainable finance mechanism and discusses the potential of SRI to contribute toward a more socially responsible and environmentally sound model of commerce in the Asia-Pacific region. Using a case study approach, I argue in this paper that the potential of SRI to accelerate the private sector toward greater sustainability has been to date largely explored within the North American and European regional contexts and that the future global development (...) of SRI is likely to depend on whether and to what degree SRI becomes a viable financial instrument in industrialized (Japan) and emerging (Hong Kong/China) economies of the Asia-Pacific region. (shrink)

Global Governance: Drawing Insights from the Environmental Experience, Oran R. Young (ed.). Cambridge, MA: MIT Press, 1997, 344 pp., paper, $22.50, ISBN 0?262?74020?6 The Implementation and Effectiveness of International Environmental Commitments: Theory and Practice, David G. Victor, Kal Raustiala and Eugene B. Skolnikoff (eds). Cambridge, MA: MIT Press, 1998, 686 pp., paper, $27.50, ISBN 0?262?72028?0.

The Durban Platform for Enhanced Action was adopted at the 2011 United Nations Framework Convention on Climate Change Conference (UNFCCC) in South Africa and one of the key achievements of the 2011 UN Conference was the agreement on and the launch of the Green Climate Fund. As the international community prepares for the 2012 UNFCC talks to start in Qatar in November-December 2012, the past history of global environmental and climate change financing issues as well as the role of finance (...) and investment in addressing global climate change will be examined in this article using the Green Climate Fund as a case study. While it is hard to be optimistic about the current international geo-political context and the policy success of the Durban Platform for Enhanced Action, the Green Climate Fund does represent a real opportunity to move forward on global climate governance and bring real economic and technological dividends to the developing world. (shrink)