No / Purpose- Promoting a safe workplace for everyone is a key tenet of Sustainable Development Goal 8 (SDG-8), which focuses on promoting inclusive and sustainable economic growth, employment, and decent work for all. Therefore, this study explores how responsible leadership ensures a psychologically safe workplace for everyone, leveraging employee-oriented human resource management. Specifically, drawing on signalling theory, this study aims to examine the impact of responsible leadership on employee-oriented HRM and the subsequent effect of employee-oriented HRM on employees' psychological safety. Furthermore, it investigates the mediating role of employee-oriented HRM in the relationship between responsible leadership and psychological safety. Design/methodology/approach- Data was collected from banking professionals through a survey questionnaire. A total of 270 samples were collected using both online and face-to-face data collection strategies. The data was analysed using the Partial Least Squares Structural Equation Modelling (PLS-SEM) approach. Findings- The findings reveal that responsible leadership significantly ensures employee-oriented HRM, which subsequently enhances employees' psychological safety. Further, the results suggest that employee-oriented HRM acts as a mediator between responsible leadership and psychological safety. Originality/value- Past studies have often emphasized HRM practices as antecedents of various attitudes and behaviours. The present study offers a novel contribution by conceptualizing and empirically validating employee-oriented HRM as a mechanism that links responsible leadership and psychological safety. It stands as the first of its kind to establish this significant relationship, shedding new light on the dynamics between responsible leadership, HRM practices, and employees' sense of psychological safety.

Yes / The Body Shop's business has been an entrepreneurial enterprise of remarkable success. Its core lies on the principle, pioneered by founder Anita Roddick, that '(...) the business of business should not be just about money, it should be about responsibility'. The company is the symbol of the 1970's corporate social responsibility (CSR) revolution.

Today, there is no uniform definition of what an ethical fund is. Fund management companies choose themselves what they believe is ethical and not. The lack of the definition makes it difficult for consumers to understand why these funds are special compared to other funds. The purpose of this study is to examine three Swedish companies; KPA Pension, Swedbank Robur and Folksam, to obtain a clearer picture of the concept ethical funds and its definition. The study describes each company's view of Ethics and how they may affect other companies to work for a more sustainable world. The paper will also discuss how fund companies make a good balance between ethics and profit. The study is based on interviews with people involved in Corporate Social Responsibility and Responsible Investments. The results suggest that companies themselves have difficulties to define what an ethical fund is, but they all believe they have a good chance to influence the various companies. Research on ethical funds and their returns have shown different results. This makes it difficult to determine if ethics and returns go hand in hand or if ethical funds instead leads to a lower risk, with a smaller yield. / I dagsläget finns det ingen enhetlig definition för vad en etisk fond är. Fondbolagen väljer själva vad de anser är etiskt och inte. Den uteblivna definitionen gör det svårt för konsumenter att förstå vad som utmärker just de här fonderna, gentemot andra. Syftet med den här studien är att undersöka tre svenska företag, KPA Pension, Swedbank Robur och Folksam, för att på så sätt få en klarare bild av etiska fonder och dess definition. Studien beskriver vad de olika företagen har för syn på etik och hur de kan påverka de företag de är delägare i. Uppsatsen kommer även att diskutera hur fondbolagen kan få en bra balans mellan etik och avkastning. Studien bygger på intervjuer med personer som arbetar med Corporate Social Responsibility och ansvarsfulla investeringar. Resultatet tyder på att företagen själva har svårt att definiera vad en etisk fond är, men att de alla anser att de har en bra chans att påverka de olika företagen. Forskningen angående etiska fonder och dess avkastning har visat olika resultat. Vilket gör det svårt att bestämma om etik och avkastning går hand i hand eller om etiska fonder istället medför en mindre risk, med en mindre avkastning.

The Principles for Responsible Investment (PRI) is a voluntary investor-led initiative, backed by the United Nations. Together, the six principles are meant to provide a ‘best practice’ code of conduct for institutional investors seeking to adopt responsible investment practices with a secondary goal of contributing to improved corporate performance on environmental, social and governance (ESG) issues. Launched in 2006, the PRI has grown to be the single largest global investor initiative with over 700 signatory financial institutions representing assets under management in excess of $US20 trillion. Contributing to the broader literature on plausible explanations for why firms participate in voluntary initiatives, the thesis is primarily concerned with the question of what has motivated institutional investors to create and publicly commit to the PRI. A review of the broader trends behind the growth of responsible investment and the emergence of the PRI indicates the dominant utilitarian, cost-benefit logic is not wholly persuasive in understanding investor motivations. The research findings indicate that decisions to integrate ESG issues and publicly commit to adopting the PRI should be primarily viewed as a response to formal pressures by external stakeholders and actors in an investor’s institutional environment. Regulatory and stakeholder influences in the form of NGO advocacy campaigns have established normative standards directed towards the conduct of investors. As public opinion has shifted to put greater emphasis on sustainable development, the image and reputation of a pension scheme in relation to these trends have come under increasing scrutiny such that being perceived as a ‘responsible’ investor – sometimes even in the absence of a direct market rationale – has become a central driver behind the growth of responsible investment. The decision to adopt the PRI and establish beyond-compliance commitments to integrate ESG issues into investment decision-making should principally be seen as embedded in broader reputational risk management strategies. These findings support complex market rationalism explanations for firm participation in voluntary initiatives which suggest that firms commit to such principles or codes of conduct as a means of assuring stakeholders that their concerns are being internalized into corporate practices. A secondary focus of the thesis is to examine signatory implementation to-date, assessing the adequacy and effectiveness of the voluntary measure for the promotion of more socially-responsible and environmentally-sustainable investments. While substantial progress has been shown by a small group of PRI signatories, it remains unclear whether the PRI has generated significant improvement across the broader signatory base. The PRI suffers from several weaknesses commonly identified in the literature on voluntary initiatives. First, a lack of accountability measures limits incentives for investors to go beyond business-as-usual. Second, less stringent voluntary standards like the PRI are likely to suffer from adverse selection and free riding, therefore threatening the credibility of the initiative’s reputation over the longer-term. Ironically, weaknesses in the institutional design of the PRI may undermine the very reputational benefit sought after by signatories.

The Principles for Responsible Investment (PRI) is a voluntary investor-led initiative, backed by the United Nations. Together, the six principles are meant to provide a ‘best practice’ code of conduct for institutional investors seeking to adopt responsible investment practices with a secondary goal of contributing to improved corporate performance on environmental, social and governance (ESG) issues. Launched in 2006, the PRI has grown to be the single largest global investor initiative with over 700 signatory financial institutions representing assets under management in excess of $US20 trillion. Contributing to the broader literature on plausible explanations for why firms participate in voluntary initiatives, the thesis is primarily concerned with the question of what has motivated institutional investors to create and publicly commit to the PRI. A review of the broader trends behind the growth of responsible investment and the emergence of the PRI indicates the dominant utilitarian, cost-benefit logic is not wholly persuasive in understanding investor motivations. The research findings indicate that decisions to integrate ESG issues and publicly commit to adopting the PRI should be primarily viewed as a response to formal pressures by external stakeholders and actors in an investor’s institutional environment. Regulatory and stakeholder influences in the form of NGO advocacy campaigns have established normative standards directed towards the conduct of investors. As public opinion has shifted to put greater emphasis on sustainable development, the image and reputation of a pension scheme in relation to these trends have come under increasing scrutiny such that being perceived as a ‘responsible’ investor – sometimes even in the absence of a direct market rationale – has become a central driver behind the growth of responsible investment. The decision to adopt the PRI and establish beyond-compliance commitments to integrate ESG issues into investment decision-making should principally be seen as embedded in broader reputational risk management strategies. These findings support complex market rationalism explanations for firm participation in voluntary initiatives which suggest that firms commit to such principles or codes of conduct as a means of assuring stakeholders that their concerns are being internalized into corporate practices. A secondary focus of the thesis is to examine signatory implementation to-date, assessing the adequacy and effectiveness of the voluntary measure for the promotion of more socially-responsible and environmentally-sustainable investments. While substantial progress has been shown by a small group of PRI signatories, it remains unclear whether the PRI has generated significant improvement across the broader signatory base. The PRI suffers from several weaknesses commonly identified in the literature on voluntary initiatives. First, a lack of accountability measures limits incentives for investors to go beyond business-as-usual. Second, less stringent voluntary standards like the PRI are likely to suffer from adverse selection and free riding, therefore threatening the credibility of the initiative’s reputation over the longer-term. Ironically, weaknesses in the institutional design of the PRI may undermine the very reputational benefit sought after by signatories.

Scientific research, technological development, and commercialisation are processes through which new technologies continually emerge and enter markets. Nanotechnology is an example of an emergent technology (or rather a suite of technologies) which promises to open up a universe of possibilities for the development of new products and processes. Advocates of the technology argue that nanotechnology has the potential to spur economic development while at the same time offering partial solutions to many of the grand challenges of our times such as alleviating hunger, providing new energy sources, reducing climate change, curing diseases, etc. However, alongside these optimistic views, there are also fears and apprehensions concerning the safe and ethical development of nanotechnologies, including the need to address potential negative impacts on the natural environment and human health and safety. The food and food packaging area has shown itself to be a particularly sensitive sector in this respect where the potential for nanoparticles to enter the human body has enhanced the sensitivity of the industry to public concern. The past has shown that any changes or modifications made to food have resulted in public backlash (e.g. GM foods). Due to this some parts of the food and packaging industry remain cautious about making transparent their use of nanotechnologies in their products and processes. However, simultaneously pressure is mounting from regulatory agencies, and from some activists, to pursue the safe and 'responsible' development of nanotechnologies (whatever that may be) as an ethical obligation. The use of nanotechnologies in food and food packaging has become increasingly complex because of its introduction at various points in the food chain, giving rise to debates as to "who is responsible". As a contribution to the debate on what constitutes the 'responsible' governance of new/emergent technologies, this thesis investigates the governance of nanotechnologies and the idea of 'responsibility' and 'responsible innovation' through the lens of perspectives of different actors within the nanotech food chain. A qualitative research methodology was used where semi-structured interviews were conducted with a heterogeneous group of actors with a particular focus on the food and food packaging sectors. Research in comparative national settings (Canada and India) was conducted on the grounds that regulation of nanotechnologies differs significantly across OECD and non-OECD countries, and where the global debate on nanotechnologies is organised and dominated by OECD countries. Findings from this thesis showed that the set of critical elements, such as health and safety, that are put forward by such OECD countries like Canada for the 'responsible' development of nanotechnologies are not the same as that found in India and are seen to differ. In India, meeting the grand challenges of society such as food security, clean drinking water and alleviating poverty take precedent over other elements, where science, technology (such as nanotechnologies) and innovation are harnessed by entrepreneurs, and small and large firms to solve these national problems. However, while I began the study with the intention of comparing two national territories with different regulatory settings, the study also found a case of collaborative Canada-India transnational research network where 'responsibility' is influenced through certain funding criteria set by the more dominant partner, Canada. This suggests the return of public intervention by dominant OECD countries in pro-actively shaping R&D processes that are influencing the 'responsible' development of nano-products in such emerging markets, where there is a potential for future trade associations.

This thesis responds to the question 'how can sovereign wealth funds manage ambiguity in their decision-making so as to implement substantive long-term investment programmes?' The rapid growth of sovereign wealth funds (SWFs) over the past decade, due largely to booming commodity prices, has inspired optimism among many for their potential to contribute to the sustainability goals of society. SWFs are unconstrained by many of the factors that have kept pension funds from realising their potential as long-term investors and so they are well placed to make significant investments in sustainable projects with positive externalities such as infrastructure and to act as effective monitors of corporate behaviour. But many obstacles stand in the way. At the institutional level, transparency has replaced tight financial market regulation, resulting in entrenched short-termism. At the organisational level, many problems facing long-term investors are too complex to fit into traditional models of decision-making. Decentralisation is necessary to respond to this complexity but it conflicts with the coordination necessary to achieve economies of scale and scope. There may not even be an ideal outcome to coerce or incentivise agents to achieve. Taken together, these problems are understood in this thesis as ambiguity, which results from differences in interpretation and irreconcilable conflict. In contrast, most governance frameworks focus on problems of uncertainty and risk, due to missing information. This thesis has three aims. The first is to reframe the governance challenge for longterm investing in terms of managing ambiguity. Second, this thesis aims to reconcile ambiguity with legitimacy that depends on expert decision-making and provides one right answer to a clearly specified problem. Third, it provides specific examples of how ambiguity, if managed, can improve decision-making. That is, ambiguity forces us to engage with subjective reality but also provides us with a framework to do so. Ambiguity can act as a built-in adaptation mechanism to hold a coalition of diverse interests together in a rapidly changing environment, to identify synergies where others see only trade-offs and to overcome collective action problems. These constructive properties of ambiguity are explored in the four substantive chapters of this thesis, alongside specific recommendations for changes to SWF governance structures to transcend barriers to long-term investing. The first half of the thesis focuses on the earlier stages of the investment process and draws on specific examples of two SWFs. Chapter III investigates ambiguity in the Alberta Heritage Fund's inter-generational equity mandate. If managed in the form of self-reflexivity, ambiguity can contribute to overcoming the time inconsistency problem in the context of sub-national resource wealth funds. Chapter IV focuses on the irreconcilable conflict in the Norwegian Fund's ethical investment policy. It argues that agents use their discretion to interpret the policy and, in doing so, are able to align it more closely to the Fund's long-term investing mandate. The second half of the thesis extends consideration to long-term investors more broadly. Chapter V explores the delegation of shareholder engagement to portfolio managers to leverage synergies in an investment management firm. It finds that introducing ambiguity into incentive design can overcome the multi-task incentive problem. Chapter VI brings concepts explored in earlier chapters to bear on its analysis of a new market for public infrastructure assets. It argues that ambiguity provides the space necessary to bring diverse actors together to transcend collective action problems and create new institutional arrangements to support a more efficient market structure. Taken as a whole, this thesis is optimistic that, as those claiming to have the one right answer are increasingly proven wrong, ambiguity will earn its rightful place in the study and practice of finance.

Principles For Responsible Banking is an initiative launched by the United Nations Environment Programme Finance Initiative in 2019. The initiative has been signed by more than 185 banks around the world. The initiative was commenced to established a framework for the banking sector in order to align their sustainability efforts. The purpose of the research is to investigate whether the level of commitment of the major banks operating in Sweden to their sustainability work. Content analysis and semi-structured interviews were performed in order to research the sustainability efforts by the banking sector. The results suggests that the banks are working towards the sustainability goals mapped out by the United Nations and Agenda 2030 but also that the banks already have measures in place to drive their sustainability work forward. The banks can intensify their sustainability work by implementing stronger actions in order to reach greater results and accelerate their efforts.

The fast-fashion industry’s effect on the environment becomes more of a critical subject as the industry grows and dominates the apparel industry. Fast-fashion is based on frequently pushing new trends to consumers in order to increase sold volumes. This has led to overconsumption and fashion waste where large volumes of unsold garments are burned each year. Alongside of this, the industry has begun to understand the importance of ethical conduct and sustainability to positively affect or minimally harm humans and reduce their overall impact on the environment. Generation Z are said to be a finely tuned ecologically conscious generation, whilst being frequent shoppers of fast-fashion. This has led to the purpose of this study, to see how Swedish Generation Z’s increased ecological conscience affects their fashion consumption. This will be found by examining how shifts in thinking affects their attitudes towards fast-fashion retailers and their willingness to purchase sustainable and ethical fast-fashion. This, with the intent of addressing the behavioral-attitude gap that exists amongst sustainable fast-fashion, where consumers want sustainable fashion but do not purchase it. To answer this, the empirical foundation was obtained through 20 semi-structured video-interviews via telephones to give an understanding of Generation Z’s attitudes and behaviors surrounding sustainability and ethics in fast-fashion. Conclusions drawn were that there was an awareness of sustainability concerning fast-fashion, but that it was not something that changed their behaviors so much as their attitudes. What was found was a strong attitude about ethics in fast-fashion as the majority of participants felt that they were in the dark about what happens in the supply chain, and that they could do nothing about it. If companies would clearly define why something is more ethical, it was found that the majority would be willing to change their behaviors, and purchase ethical fast-fashion. Sustainability that was something they were aware of, was lacking in fast-fashion but something they compromised for price, whilst price was not such a sensitive subject regarding ethical fashion.

En global trend inom finansbranschen har varit ett ökat intresse för hållbara och ansvarsfulla investeringar från både privata investerare som vid fondbolagens komponering av fonder. I Sverige sparar majoriteten av befolkningen i fonder och en markant tillväxt bland hållbara fonder har skett. Det privata sparandet har flyttats från sparkonto till olika typer av värdepapper såsom fonder. Trots det ökade intresset föreligger ingen definition av hållbara investeringar. Syftet med studien var att förklara urvalsprocessen vid komponering av hållbara placeringsprodukter för att öka investerares kunskap om vilka premisser fondbolag inkluderar i Socially Responsible Investments fonder. I studien intervjuades tre hållbarhetsansvariga i svenska fondbolag samt en aktieanalytiker. Intervjufrågorna kretsade kring vilka premisser fondbolagen inkluderar i sina hållbara fonder samtidigt fick respondenten belysa sin framtidstro på hållbara fonder. Studiens resultat visade på att samtliga fondbolag använder samma urvalsmetoder och följde samma urvalskriterier vid komponering av sina hållbara placeringsprodukter. Legitimitet och ekonomiskt incitament är bidragande begrepp i föreliggande studie. Resultatet som framkom var att även ifall fondbolagen tagit beslut utifrån det ena incitament så finns det kopplingar till det andra underliggande incitamentet. / A global trend in the financial sector has been an increased interest in sustainable and responsible investments from both private investors and the fund companies' composition of funds. In Sweden, most of the population saves in funds and a significant growth among sustainable funds has taken place. Private savings have been transferred from savings accounts to various types of securities such as funds. Despite the increased interest, there is no definition of sustainable investment. The purpose of the study was to explain the selection process when composing sustainable investment products to increase investors' knowledge of the premises of fund companies in Socially Responsible Investment funds.The study interviewed three sustainability managers in Swedish fund companies and one equity analyst. The interview questions revolved around what premises the fund companies include in their sustainable funds at the same time the respondent had to shed light on his future belief in sustainable funds. The study's results showed that all fund companies use the same selection methods and followed the same selection criteria when composing their sustainable investment products. Legitimacy and financial incentive are contributing concepts in the present study. The result that emerged was that even if the fund companies made decisions based on one incentive, there are links to the other underlying incentive.