Complexity and volatility seem to be the defining characteristics for global markets as we experience an extraordinarily challenging start to 2016. In this season of extremes, we digest China macro concerns, the trajectory for commodity prices, and an evolving geopolitical and economic landscape. All the while, we try to assess how the capital markets can support the immediate imperatives of everything from mitigating and adapting to climate change, to absorbing divergent monetary policy actions and turmoil in corporate bond markets.
In considering the breadth and magnitude of such challenges, we applaud efforts to bring humanity back to the quest for progress. True leadership can fight the status quo. And order can come from chaos. This juxtaposition of “Order & Chaos” is the theme for this edition of the Journal of Sustainable Finance & Banking (JSFB). To drive a transformation towards inclusive and regenerative global growth, the capital markets must harness pure creative energy.
In this issue’s “Enhanced Analytics” session, contributor Katherine Collins describes efforts to quantify the “unknown unknowns” in our modeling of potential future exogenous shocks to business. And we hear from voices in our “Accelerating Impact” section who recognize that a holistic consideration of human capital as a part of the ‘order of business’ results in better outcomes.
Highlights from the January issue:
Regional and Sector Strategy: Monthly Update
By Michael Geraghty
Japan’s Corporate Governance Reform: Powerful Driver of Earnings Growth
By Michael Geraghty
Are YieldCos Looking After Their Investors?
By Sebastian Vanderzeil, Michael Shavel, Andy Zheng
“Legitimacy” in the Banking Sector
By Michael Shavel, with Robert D. Lamb, PhD, and Diane Glossman, CFA,
Managing Chaos: Legitimacy and Institutional Revision in Argentina
By Delfina Lopez Freijido & Miguel Ferreyra de Bone, Acrux Partners
Reimagining the Private Sector Role Post-Conflict and in Anti-Terrorism
By Andrew MacLeod, Kings College London
Ordering the Unknown
By Katherine Collins, Honeybee Capital
Health as a Business Tool
By Shahnaz Radjy, The Vitality Group, Daniel Malan, University of Stellenbosch Business School
Food, Farms and Forests: The Chaos of Fear and High Expectations
By Julie Lerner, PanXchange
Philanthropy, Markets and Transparency
By Bradford K. Smith, The Foundation Center
A Call for Chaos
By Steven Nelson, The Calhoun School
Ordered Chaos in Learning
By Babur Habib, Entrepreneur
Understanding Natural Order and Environmental Chaos via Photography
By Alexandra Garcia, International League of Conservation Photographers