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Book part
Publication date: 26 January 2023

G. P. T. S. Hemakumara, Supuni Uthpalawanna Athukorala and L. G. D. S. Yapa

The environmental impact of energy supply is growing which has a significant impact on regional and global environmental issues. As a solution for this, both developed and…

Abstract

The environmental impact of energy supply is growing which has a significant impact on regional and global environmental issues. As a solution for this, both developed and developing nations paying attention to convert their energy productivity by using renewable energy like wind and solar energy. Sri Lankan government also aims to obtain the full amount of electricity required from local renewable sources by the year 2050 under the project called “sooryabala sangramaya” (the battle for solar energy). Currently, Sri Lanka’s power generation sector is heavily dependent on imported fuels, such as petroleum and coal, resulting in growing detrimental impacts on the country’s sustainable socioeconomic development. With the growing market of solar photovoltaic (PV) technology, Sri Lanka is turning its attention towards generating the total amount of electricity required from solar power by promoting the installation of arrays of PV panels on the rooftops of households, religious places, hotels, commercial establishments and industries. It also aims to deploy solar PV for sustainable rural development, mainly focused on uplifting people living in remote areas in the country. This chapter discusses how Sri Lanka has initiated a rooftop solar PV adoption program to lessen imported fuels’ socioeconomic and environmental impacts. Moreover, this case demonstrates that the adoption of rooftop solar PV brings many socioeconomic benefits to its consumers.

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Sustainability and Social Marketing Issues in Asia
Type: Book
ISBN: 978-1-80071-845-6

Keywords

Book part
Publication date: 13 October 2008

Muttukrishna Sarvananthan

The economic effects of ethnic conflict in Sri Lanka are multifarious. A discussion of the economic effects of ethnic conflict could encompass the opportunity cost of the war…

Abstract

The economic effects of ethnic conflict in Sri Lanka are multifarious. A discussion of the economic effects of ethnic conflict could encompass the opportunity cost of the war (i.e., the foregone income due to the war at micro- and macro-levels), the economic impact of the military expenditures (on both sides of the war), financing mechanisms (both national and international) of the rebel movement, and the impact of economic sanctions on rebel territory. It should be noted that the economic effects of ethnic conflict in Sri Lanka is a relatively under-researched area (Arunatilake, Jayasuriya, & Kelegama, 2000; Goonetileke, 1998; Grobar & Gnanaselvam, 1993; Gunatilleke et al., 2001; Kelegama, 1999; O’Sullivan, 1994, 1997, 2001; Rankaduwa & Cooray, 1999; Ravano, 2001; Richardson & de Samarasinghe, 1991; Ross & Samaranayake, 1986; Seabright, 1986).

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Conflict and Peace in South Asia
Type: Book
ISBN: 978-1-84950-534-5

Book part
Publication date: 13 October 2008

Penelope Hood

An international aid conference held in Tokyo from 9 to 10 June 2003, conducted with the participation of 51 countries and 20 international finance agencies, granted US $4.5…

Abstract

An international aid conference held in Tokyo from 9 to 10 June 2003, conducted with the participation of 51 countries and 20 international finance agencies, granted US $4.5 billion over a 4-year period to Sri Lanka (www.news.bbc.co.uk (a)). The aid, pledged by donors for development and reconstruction in Sri Lanka, was conditional upon the successful continuation of progress towards a permanent solution to the ethnic conflict. The Prime Minister promised ‘a provisional administrative structure with wider powers to the LTTE’ (Wickramasinghe, 2003b), suggesting that the Tokyo aid would enable the implementation of a new framework to re-energise Sri Lankan peace and development. However, the aid package has elicited mixed reactions from key players. In particular, the Liberation Tigers of Tamil Eelam (LTTE) are refusing to participate in further peace negotiations until there is a more equitable distribution of resources, resulting in more aid being allocated to the areas of need in the North, East and South. That is, those areas where they wish to have greater control, and they have condemned the proposed new administrative structure.

Details

Conflict and Peace in South Asia
Type: Book
ISBN: 978-1-84950-534-5

Book part
Publication date: 12 June 2023

R. Lalitha S. Fernando, Manjitha Kavindi Siriwardhana, E. Achini Indrachapa Kularathna and H. D. M. Kaushalya Geethamali

The occurrences of disasters have become a common phenomenon in the world and there is evidence that the frequency and intensity of disasters are increasing. There have been more…

Abstract

The occurrences of disasters have become a common phenomenon in the world and there is evidence that the frequency and intensity of disasters are increasing. There have been more than 7,000 disaster events and around 265 million displacements in the period from 2008 to 2018, which constitutes more than three times of conflict and violence-related displacements (Disaster Displacement – A global review, 2019). Natural disasters are responsible for nearly 60,000 deaths per year on average and are responsible for 0.1% of global deaths. Various forms of natural disasters pose significant threats to lives, livelihoods, economic development, and ecological diversity around the world. Similar to the world scenario, Sri Lanka has a similar situation. Sri Lanka has been identified as a drought hot spot. Nearly, 15,000 people per million are at risk of disaster-induced displacement every year in Sri Lanka. During the Tsunami, in 2004, 31,000 human lives were lost, and more than a million people were displaced. Thus, natural disasters cause a huge negative impact on society and the economy in Sri Lanka. In this context, the main objectives of this study are to overview the disasters and displacements that have occurred during the last two decades and to explore the livelihood activities of the affected people and their best practices of disaster resilience. Secondary data were used to overview the disasters and displacements of the last two decades and the related policy framework of the country. Primary data were used to identify livelihood activities and disaster-resilient strategies of the affected people. In-depth interviews were conducted with an unstructured questionnaire from 15 recovered families who have been affected by Tsunami and landslides that occurred in the country. The purposive sampling method was used to select families from the most disaster-affected areas. Descriptive methods were used to analyze the data. The study revealed five recovery strategies followed by displaced people from tsunamis and landslides. Those are continuing with the previous livelihood activities as much as possible, moving to different livelihood activities, moving to different areas to find better jobs, attaining external assistance, and self-management on household finance. Finally, policy guidelines for building resilience in communities that will help to enhance their capacity to cope and recover from vulnerability are proposed in improving their lives.

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Disaster, Displacement and Resilient Livelihoods: Perspectives from South Asia
Type: Book
ISBN: 978-1-80455-449-4

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Abstract

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Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Book part
Publication date: 9 June 2022

L.G.D.S. Yapa, Anisah Lee Abdullah, Ruslan Rainis and G.P.T.S. Hemakumara

An understanding of the social entrepreneurial behavior of key stakeholders in Participatory Irrigation Management (PIM) is of vital importance to the socioeconomic growth of a…

Abstract

An understanding of the social entrepreneurial behavior of key stakeholders in Participatory Irrigation Management (PIM) is of vital importance to the socioeconomic growth of a country. The term social entrepreneurship or social enterprise is relatively new to Sri Lanka just as it is with many other developing countries. Social entrepreneurs are those who solve social and environmental problems that hinder social inclusion, economic integration, and sustainable development. Though many entrepreneurs are operating across the different agricultural sectors for many years, the exact nature of social entrepreneurial behavior among them is still unknown. As an agricultural economy-based country, PIM policy encompassing many strategies has been implemented in Sri Lanka to eradicate poverty and hunger in society. Therefore, this chapter aims to focus on the socioentrepreneurship of five key stakeholders in PIM and to provide empirical evidence of their activities in the area of the Bata-atha branch canal in the Walawe irrigation scheme, Sri Lanka, where PIM has been implemented. This chapter finds that the establishment of the Bata-atha farm by the Ministry of Agricultural Development and the irrigation management of Bata-atha tail-end branch canal under the organizational efforts of the Agunukolapelessa block office of Mahaweli Authority of Sri Lanka presents a good example of an innovative and supportive farm management system that contributes to significant improvements in the socioeconomic situation of the vulnerable farming community. Moreover, this chapter shows that the collective action of active farmer organizations and successful sole proprietors in the area constitute social entrepreneurial behavior that contributes to the social transformation. This chapter concludes with a discussion of the implications this has for the irrigated agricultural sector and the need for further research to identify the potential for continued development by fostering the practices of socioentrepreneurship in the country.

Book part
Publication date: 30 March 2017

Julia M. Puaschunder

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox…

Abstract

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox economic thinking, the call for integrating social facets into mainstream economic models has reached unprecedented momentum. Financial Social Responsibility bridges the finance world with society in socially conscientious investments. Socially Responsible Investment (SRI) integrates corporate social responsibility in investment choices. In the aftermath of the 2008/2009 World Financial Crisis, SRI is an idea whose time has come. Socially conscientious asset allocation styles add to expected yield and volatility of securities social, environmental, and institutional considerations. In screenings, shareholder advocacy, community investing, social venture capital funding and political divestiture, socially conscientious investors hone their interest to align financial profit maximization strategies with social concerns. In a long history of classic finance theory having blacked out moral and ethical considerations of investment decision making, our knowledge of socio-economic motives for SRI is limited. Apart from economic profitability calculus and strategic leadership advantages, this paper sheds light on socio-psychological motives underlying SRI. Altruism, need for innovation and entrepreneurial zest alongside utility derived from social status enhancement prospects and transparency may steer investors’ social conscientiousness. Self-enhancement and social expression of future-oriented SRI options may supplement profit maximization goals. Theoretically introducing potential SRI motives serves as a first step toward an empirical validation of Financial Social Responsibility to improve the interplay of financial markets and the real economy. The pursuit of crisis-robust and sustainable financial markets through strengthened Financial Social Responsibility targets at creating lasting societal value for this generation and the following.

Abstract

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International Perspectives on Democratization and Peace
Type: Book
ISBN: 978-1-80043-068-6

Book part
Publication date: 31 December 2013

Stephen Gates

Purpose – The purpose of this chapter is to explore the proactive role played by investor relations officers (IROs) in enhancing the quality and delivery of corporate social…

Abstract

Purpose – The purpose of this chapter is to explore the proactive role played by investor relations officers (IROs) in enhancing the quality and delivery of corporate social performance (CSP) information to social responsibility investment (SRI) analysts and investors, thereby improving the link between CSP and corporate financial performance (CFP). The increasing pressures on corporations to produce and communicate CSP information will be described, as well as how the timely and meaningful communication of CSP can improve CFP.

Methodology/approach – Subsequent to a review of relevant literature, three case examples from McDonald’s, Nestlé, and Stora Enso illustrate Hockerts and Moir’s grounded theory framework that suggest how IROs can improve communication of CSP.

Findings – This chapter illustrates three levels of communicating CSP information. First, IROs target SRI investors and respond to ESG inquiries and surveys. At the second level, IROs integrate ESG information into business strategy and financial results. At the third level, IROs actively market CSP and create a two-way proactive dialogue between SRI investors and senior management and the board.

Practical implications – This chapter provides practical examples to improve ESG activities and their communication via the IRO to SRI analysts and investors.

Originality/value of chapter – This chapter contributes to the literature on the CSP–CFP link by illustrating how proactive IROs are improving the CSP information channel to SRI securities analysts and investors. Furthermore, it advances the theory and research concerning the impact of the information channel between IROs and securities analysts behind the CSP–CFP link.

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Institutional Investors’ Power to Change Corporate Behavior: International Perspectives
Type: Book
ISBN: 978-1-78190-771-9

Keywords

Book part
Publication date: 2 September 2016

Christophe Revelli

The aim of this chapter is to propose a critical analysis of socially responsible investing (SRI) through debate and reconstruction. Our goal is therefore to try to understand how…

Abstract

Purpose

The aim of this chapter is to propose a critical analysis of socially responsible investing (SRI) through debate and reconstruction. Our goal is therefore to try to understand how the definition of ethics in finance has steered SRI towards a financial approach where ethics is guided by finance.

Methodology/approach

This chapter proposes a two-point approach consisting of a meta-debate and development perspectives. Each approach is divided into three debates (ideological and philosophical, scientific and practical), which are interconnected.

Findings

The chapter concludes that the debate on mainstream SRI is necessary but should be re-discussed, as it is preventing in its current form the concept from developing and being grounded in real ethical values, sacrificing the individual ethics that should be driving investing decisions.

Originality/value

The chapter proposes to rethink the paradigm around SRI through a conceptual framework that re-inserts finance within ethics, where non-financial performance and impact investment should be at the centre of the scientific debates, leading to an SRI based on exclusion, the consideration of controversies and social impact measurement.

Details

Finance Reconsidered: New Perspectives for a Responsible and Sustainable Finance
Type: Book
ISBN: 978-1-78560-980-0

Keywords

21 – 30 of over 11000