If a few years ago we were told that the Exhibition of 2013 savings would be open to a conference in which Carlo Petrini, founder of Slow Food and speaker was more important, perhaps we would not have believed it. Add to this the fact that the day last Friday at the Salon has hosted four conferences on the topic of business ethics and that an entire wing of the show was reserved for finance and sustainable investments. But we can only welcome the idea that is making its way slowly. The idea that the money should be channeled in the right direction and also invested on the basis of moral principles in order to keep the economy healthy.
If there is one lesson that we have learned from the crisis is that on one hand saving is a key resource for the soundness of a state and on the other hand financial engineering and creative financing while responding to the logic of all right contain within themselves the seeds of implosion. The managers, institutions and investors are definitely looking for investment with the highest quality standards. The market is growing but the products available are on the whole quite a few. Consider that ethical funds in our country that deserve that name are only about thirty with assets just over $ 1.3 billion euro.
Yet as we said the results were not slow to be produced. The industry’s best stock funds have offered in the past three months yields above 10 %. Needless to say that it is a total customer satisfaction and word of mouth works best as a promotional method. The ethical financial products are also exempt from the Tobin Tax. This is not only right principle but it is also an appropriate way to facilitate the development of funds that fall into this category.
The managers of traditional mutual funds are increasing considering the idea of entering the criteria of ethical finance in their investment strategies. This is also a sign of good omen that in a not too distant future ethical finance becomes the keystone of the investment world providing products that enables it to return to fully invest in the real economy avoiding speculative instruments.