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The case examines the development and launch of an exchange-traded fund (ETF) based on JUST Capital's socially responsible corporate ranking methodologies. The case provides a market overview of Environment, Social, and Corporate Governance (ESG) and socially responsible investing (SRI), what has driven growth in those areas worldwide, and several best-practice investment approaches. Following the overview, the case describes the founding and development of JUST Capital, explores JUST Capital's ranking methodologies, and presents the decision point faced by the CEO: requisite selection of one of three strategies in order for JUST Capital to generate “self-sustaining” revenue.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

The purpose of this paper is to document and explore the perceptual motivations for voluntary and continued affiliation with a fitness industry register by its affiliates (“members”) and non-affiliates (“non-members”). The formation of fitness industry registers to impart self-regulation is a common global occurrence. Their sustainment, however, is reliant on the motivations and voluntary support of industry members. Limited work has been done in this area.

This qualitative study uses the interpretive research paradigm, involving semi-structured interviews with 12 Auckland, New Zealand, fitness centre managers, industry associations, New Zealand Register of Exercise Professionals (Reps NZ) and Fitness New Zealand. Lenox’s (2006) participation-contingent benefits framework provides the necessary lens to explore the perceptual motivations behind participation/non-participation by fitness centres with an industry self-regulatory system (i.e. Reps NZ).

Whereas participation-contingent benefits are perceived minimal, and exceeded by affiliation limitations, there is institutional congruence for industry regulation to exist, thus creating institutional pressures that encourage affiliation and retention. Whereas affiliates choose to absorb the associated inconveniences of affiliation to “support” Reps NZ, non-affiliates question the register’s regulatory form, choosing to avoid the affiliation costs and limitations.

This study lends further support that institutional development is crucial for inclusive, substantive and sustainable self-regulatory systems. Regardless of the perceived low return on participation-contingent benefits, industry self-regulation can be sustained if there is a desire by industry members to maintain the institutional notion that the regulation needs to exist.

This article is a response to Carpenter’s ‘Virtue Ethics in the Practice and Review of Social Science Research: The Virtuous Ethics Committee’. While applauding his attempt to introduce the concept of ‘virtue ethics’ into the contemporary discourse about the practice and review of social science research, I suggest that his thinking is overly dependent on the work of Macfarlane (2009 & 2010); particularly with respect to drawing a sharp contrast between this concept and the use of principles to construct an ethical framework for research and its review. I argue that Carpenter’s article would have benefited from a critique of the conceptual limitations of Macfarlane’s work, particularly in a context where social science research is increasingly participatory. Following O’Neill (1996), I argue that ethical principles can be understood as universal values that orientate practical reasoning or deliberative inquiry into what constitutes virtuous action in particular cases. Such deliberative inquiry may also be guided by what Nussbaum (1990) depicts as ‘rules of thumb’; summaries of good concrete judgements and decisions that are the cumulative outcomes of past deliberations about how to realise ethical principles in action. I argue that these ‘rules’ do not prescribe action since they cannot be considered as ethically prior to concrete descriptions of cases. Rather, they evolve out of the deliberative process of case study itself. As Nussbaum (1990) points out, Aristotle argued for the ethical priority of concrete description over any general rule that might be applied to it. This does not, however, deny the practical significance of summaries of judgements based on a constant comparison of cases. Instead, such rules can be understood as practical hypotheses to be tested by participants in a social practice within each new concrete situation. I argue that one limitation of the dispositional frameworks that Carpenter cites as providing a basis for the practice and review of social research is their highly generic character. Much research aimed at achieving social ends is shaped by more specifically orientated professional and social practices governed by particular ends-in-view that can be conceptually linked to them. In conclusion, I suggest that, since much social research explicitly aspires to be a participatory and democratic process of knowledge construction, it should provide a starting point for ethical review, where engagement between ‘the committee’ and ‘researchers’ transcends the bureaucratic exercise of reviewing documents.

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

Green office buildings have recently taken on increased significance in institutional property portfolios in Australia and globally. The key issue from an institutional investor perspective is the assessment of whether green office buildings add value. Using an extensive portfolio of green office buildings, the purpose of this paper is to empirically assess the level of energy rating premiums in the property performance of green office buildings in Australia.

Using a portfolio of over 200 green office buildings in Australia benchmarked against a comparable portfolio of non-green office buildings, the level of energy rating premiums in the property performance of green office buildings in Australia is empirically evaluated. Hedonic regression analysis is used to account for differences between specific office buildings and to explicitly identify the “pure” green effect in identifying the level of energy rating premiums in several commercial property performance characteristics (e.g. office value, rent).

The empirical results show the added-value premium of the 5-star National Australian Built Environment Rating Scheme (NABERS) energy rating scheme and the Green Star scheme in the property performance of green office buildings in Australia, including office values and rents. Energy rating premiums for green office buildings are evident at the top energy ratings and energy rating discounts at the lower energy ratings. The added-value “top-end” premium of the 5-star vs 4-star NABERS energy rating category is clearly identified for the various property performance parameters, including office values and rents.

This paper empirically determines the presence of energy rating premiums at the top energy ratings in the performance of green office buildings, as well as energy rating discounts at the lower energy ratings. This clearly highlights the added value dimension of energy efficiency in green office buildings and the need for the major office property investors to prioritise the highest energy rating to facilitate additional property performance premiums. This will also see green office buildings become the norm as the market benchmark rather than non-green office buildings.

This paper highlights energy performance premiums for green office buildings. This fits into the context of sustainability in the property industry and the broader aspects of corporate social responsibility in the property industry.

This paper is the first published property research analysis on the detailed determination of energy rating premiums across the energy rating spectrum for green office buildings in Australia. Given the increased focus on energy efficiency and green office buildings, this research enables empirically validated and practical property investment decisions by office property investors regarding the importance of energy efficiency and green office buildings, and the priority to achieve the highest energy rating to maximise property performance premiums in office values and rents.