China's External Environmental Policy: Understanding China's Environmental Impact in Africa and How It Is Addressed

Many Chinese economic actors in Africa have come under harsh criticism for the alleged environmental impact of their activities. This impact is not always documented, is uneven across the continent, and should be compared to that of business actors from other countries--in particular from the OECD. One major factor accounts for the recorded differences: the policy and regulatory framework within which these business actors operate. The African weak state is not conducive to the adoption of robust standards and their subsequent implementation. However, the shift in Chinese policy at home on environmental issues is already producing some changes for the state-owned companies, and there is a growing concern in China's leading circles about the international image of the nation and its companies turning global

Finance as a Driver of Corporate Social Responsibility

Finance is grease to the economy. Therefore, we assume that it may affect corporate social responsibility (CSR) and the sustainability of economic development too. This paper discusses the transmission mechanisms between finance and sustainability. We find that there is no simple one-to-one relationship between financial development and sustainable development but there are various – often indirect – linkages. It appears that most of the literature concentrates on the role of public shareholders when it comes to changing corporate policy and performance in a more sustainable direction. However, this focus neglects the potential impact of the credit channel and private equity on a firm’s non-financial policies and performance. These very powerful mechanisms can govern business policies and practices. Therefore, there appears to be much more scope for finance to promote socially and environmentally desirable activities and to discourage detrimental activities than has been acknowledged in the academic literature so far. Copyright Springer Science+Business Media, Inc. 2006banks, corporate social responsibility, development, ethics, financial markets, socially responsible investments, sustainable development, G200, G300, L210, M140, Z130,