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Discussion Board n°4, 26/05/20

In response to the crisis, the resilience of the « domestic/household economy » proved essential for many despite the fact that this activity is not monetized and remains « invisible » for official statistics. What economic policy recommendations should be drawn from this experience ?

Thanks for those of our contributors who ventured to react to the this question posed in this Discussion Board.

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Discussion Board n°3, 08/05/20

“What would you suggest as priority actions to reach out to the most exposed to the economic aftermath of the pandemic crisis in developing countries?”

Thanks for those of our contributors who ventured to react to the third question posed in this Discussion Board.

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Finance & Bien Commun / Common Good N°46 & 47

Ethics & Trust in Finance – Global Prize

7th Edition 2018 / 2019

Nominated Essays

Getting out of our silos / Sortir de nos silos

 

To download the review

 

Preface

Angel Gurría

 

Editorial: Getting out of our silos / Sortir de nos silos

Josina Kamerling, Paul H. Dembinski

 

Values and Principles of the Jury

Global Jury : Seventh Edtion 2018/2019

 

Part I : Ethics in the Fintech Era

 

Part II : Beyond compliance

 

Part III : Can/should ethics be monitored ?

 

Part IV : Ethical dilemmas

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Award Ceremony of the 7th edition of Ethics & Trust in Finance

On the 18th November 2019, the Award Ceremony of the 7th edition of the Global Prize “Ethics & Trust in Finance” took place, at the OECD headquarters in Paris.

 

Opening speech

Mr. Paul H. Dembinski, co-President of the Jury of the Prize, opened the Ceremony welcoming the laureates, the members of the Jury and the keynote speakers.

 

Round-table discussion – Moderator: Josina Kamerling

The opening speech was followed by a round table, moderated by Ms. Josina Kamerling, Head of Regulatory Outreach at CFA Institute and Co-President of the Jury of the Prize, to discuss the theme “Ethics & Trust in finance: opportunities and challenges for 2020”. The participants to the round table included:

  • Mathilde Mesnard, Deputy Director, Financial and Enterprise Affairs, OECD
  • Adam McLean, Legal and Financial Compliance, Euroclear
  • Pascal Cescon, Chief Ethics Officer, Banque de France
  • Eelco Fiole, Managing partner, Alpha Governance Partners

 

The Award part of the Ceremony

The 7th edition 2018-2019 attracted more than 500 expressions of interest. In the final phase of its work, the Jury composed of 25 world class personalities, worked on a short list of 11 papers, and allocated the 20 000 USD to authors of the following four essays.

 First ex aequo Prizes
Technomoral Financial Agents: Ethics in the Fintech Era
Marta Rocchi, Italy

Finance Needs ‘Bilinguals’ Too
Andrea Roncella & Luca Roncella, Italy

Second Prize
How to Shape Moral Attitudes in Banking – the Polish example
Mateusz Kucz, Poland

Special Commendation of the Jury:
The Moralisation of Contracts: An Islamic Persperctive
Andrea Bancone, Italy

 

Keynote speech, by Angel Gurría, Secretary-General of the OECD

The Award ceremony concluded with the keynote speech of Angel Gurria, Secretary-General of the OECD, who congratulated the laureates and stressed the topicality and urgency of their work.

 

The Strategic Partners of the Ethics & Trust in Finance Prize

 

 

 

 

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Launch of 7th edition of Ethics & Trust in Finance

The official launch of the 7th Edition of the Ethics & Trust in Finance Global Prize took place at the OECD Conference Center in Paris on the 18h of September.
Full program

More information: http://www.ethicsinfinance.org/7th-edition-2018-2019/official-launch-of-the-7th-edition-of-the-prize/

 

The launch was an opportunity to remind people about the purpose of the Prize which since 2006, on a biennial basis, invites young authors – under 35 – to think and submit essay entries about the role ethics and trust play or should be playing in the finance broadly understood. The targeted audience come from very different horizons, professional backgrounds, cultures, geographic locations, with the one common denominator that they all belong to the world in finance. The essay competition provides an opportunity for expression of these different expertise, sensibilities and experiences.

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Beyond the Financial Crisis: Towards a Christian Perspective for Action

Beyond the Financial Crisis, Towards a Christian Perspective for Action, Paul Dembinski and Simona Beretta, The Caritas in Veritate Foundation Working Papers, June 2014.

pdf

The financial crisis and its many developments have brought to the forefront a sea change most people were unaware of in 2008. The financial economy had from the mid-1980s overtaken the real economy and expanded so much to become pervasive. All kinds of goods and commodities are transformed into financial assets or securities and sold on global exchanges. Especially debts—consumer credit, mortgages, credit cards, etc.—were appealing. Thus, over the last three decades financial assets became increasingly and silently part of our everyday life. So much so, that a total collapse of financial markets would actually be akin to a reboot of our way of life and of most of our institutions.

This working paper addresses this change and gives a well-developed and informed understanding of how we came to this. But most of it is dedicated to another point: which path is open today out of the crisis? What lies beyond the crisis? The return to ‘business as usual’? Have we learned nothing?

Financial markets are not evil per se. They do have a social function, but must work for the Common Good if they want to earn to it. What does this concretely mean? Drawing upon Catholic Social Teaching, Paul Dembinski and Simona Beretta reassert forgotten truth and explore new and challenging perspectives.

Website of the Caritas in Veritate Foundation