Finance for a future of sustainable prosperity

Taylor, Nick; Jones, Aled; Hafner, Sarah and Kitchen, Joanna. 2020. Finance for a future of sustainable prosperity. Area, pp. 1-9. ISSN 0004-0894 [Article]

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Abstract or Description

Global society currently faces many challenges including climate change and rising inequality. This paper presents the results of a thematic coding analysis of a workshop comprised of senior accountants and actuaries who were asked to consider how a future of sustainable prosperity can be enabled by the finance sector. We found that mindset, skills, external drivers and decision boundaries were key themes that create barriers to change. Importantly, a reframing of the professions is required to underpin the changes required. The accountants and actuaries who took part believe that this represents a revolution from the way they currently operate with regard to regulation, exams, decision-making and their engagement with clients. They need to be more open to qualitative approaches to advice and focus on value creation, as well as re-constructing what is understood through value, rather than profit extraction.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1111/area.12631

Additional Information:

The financial support of the Economic and Social Research Council for the Centre for the Understanding of Sustainable Prosperity (CUSP) (ESRC grant no: ES/M010163/1) is gratefully acknowledged. The institutional support of the Institute and Faculty of Actuaries and the Institute of Chartered Accountants in England and Wales is acknowledged.

Keywords:

finance sector, sustainability, accountancy, actuary, thematic analysis, workshop

Departments, Centres and Research Units:

Politics > Political Economy Research Centre

Dates:

DateEvent
12 May 2020Accepted
14 May 2020Published Online

Item ID:

28489

Date Deposited:

23 Sep 2020 09:31

Last Modified:

24 Sep 2020 17:22

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

http://research.gold.ac.uk/id/eprint/28489

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