UCL Ethics & Law - Workshop on the Financial Sustainability of Banks
Wednesday, February 6, 2013 at 6:00 PM (GMT)
London, United Kingdom
The Financial Sustainability of Banks
Professor Roger McCormick
(London School of Economics)
Chaired by Professor Emilios Avgouleas
(University of Edinburgh)
Wednesday 6th February 2013
Denys Holland Lecture Theatre, UCL Faculty of Laws
About the Event:
Are you an academic, legal/compliance practitioner or risk manager involved in understanding or managing environmental, social and governance risk within your organisation?
The Financial Sustainability project, led by Prof Roger McCormick, is part of the LSE Law and Financial Markets Project. The Sustainable Finance Project’s objectives are, first, to develop and, as far as possible, achieve international consensus on the following:
a) the legitimate aspirations of market participants and others in relation to sustainability in the context of financial market activity;
b) what is meant by “sustainable” in the context of:
c) the relationship between ethical awareness (as reflected in the culture of a financial institution) and the desire to conduct business with due regard to "sustainability"; and
d) the ways in which the adoption of good governance practices and principles can be buttressed by greater accountability, changes in culture and structural changes in the relationships with stakeholders in civil society
In the context of the above, the Sustainable Finance Project will explore the possibility of extending the concept of “ESG” (environment, social, governance) to embrace Systemic Responsibility within financial institutions, i.e. the adoption of a business and risk management culture that takes full account of the institution’s responsibilities (in addition to those of regulatory bodies) in relation to the maintenance of a sustainable financial system, particularly in times of extreme financial instability. The Workshop intends to present the objectives and early developments of part of the project and audience feedback is eagerly anticipated.
About the Speaker:
Roger McCormick is the Director of the Sustainable Finance Project at London School of Economics and Political Science, and a Visiting Professor at LSE. He is also the author of Legal Risk in the Financial Markets (Oxford University Press, 2nd ed. 2010). He retired from full-time private legal practice in 2004, having practised law in the City of London for nearly thirty years.
Emilios Avgouleas is an acknowledged expert on financial market regulation, banking law and finance, and global economic governance. Emilios has published extensively in the wider field of International and European finance law and economics.
The UCL Centre for Ethics & Law was established in 2009 to reflect the growing need for enhanced collaboration between academics, practicing lawyers and industry, given the fast changing and increasingly interdisciplinary nature of the global issues lying at the intersection between ethics and regulatory compliance. The work of the Centre is resolutely multi-disciplinary and practice-oriented, focusing on a number of current themes including the professional ethics of in-house and external legal counsel, ethics of risk, anti-corruption, global business and human rights, and distributive justice.
with thanks to our sponsors Norton Rose, Ernst & Young, Shell, BAE, HSBC and Carillion
The Faculty of Laws at UCL has a world-class reputation for research, and has been rated by the UK government in the highest categories for both research and teaching.
We value research not only in contributing to the quality of our teaching and the supervision we give our students, but also in its contribution to the development of law and its influence on legal practice and public policy.
The Faculty was ranked 2nd in the UK by The Times Good University Guide (subject table: Law) in 2008. UCL is ranked 4th in the World University rankings.
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