EFFAS Commission on ESG

June 27th, 2012

“The Crisis and Economic Responsibility” (An update to Economic Responsibility 3.0)

Every crisis – be it financial or economic, a crisis of confidence or the debt crisis – demands a comprehensive and responsible approach

  • We live in a global debt crisis
  • Quantitative easing is not showing us a way out of the crisis
  • Rating agencies – yes, but changes are necessary
  • Japan and Germany: suddenly nuclear power is no longer indispensable
  • The future must be founded on innovation and reduction
  • The 50 specific approaches listed in “Economic Responsibility 3.0″ (June 2011) are still valid

Responsibility and the crises – further action and ideas for coping and avoiding

To regain confidence, you cannot “stick your head in the sand” and act as if nothing happened. What’s needed are new, progressive requirements for future financial market regulations.

This link takes you to the report

Author of the report is Fritz Mostboeck, President of OVFA (Austrian Association for Financial Analysis and Asset Management) and Member of the Executive Management Committee of EFFAS (The European Federation of Financial Analysts Societies), the umbrella organisation of all European analyst associations with a total of more than 17,000 members in 27 European member countries. Fritz Mostboeck was watching the crisis over the past years very carefully. The current global environment (the crisis since 2007 has not yet passed) requires a further update on the basis of the 1st, 2nd and 3rd OVFA Publication on Responsibility (November 2004, June 2010 and June 2011).

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