ABSTRACT
A major implication of the global financial crisis is the return of government to a leading role in national economies. In 2009, as new government regulations were announced, as further nationalisations of financial institutions became necessary, and as economic stimulus packages were agreed around the world, government once again took on a position to shape economic activity. A harbinger of a greater governmental role in socially responsible investing can be found in the response to the global financial crisis by the board of the UN Principles for Responsible Investment, an investor initiative that includes some of the world’s largest pension funds. Reviewing the world of government responses to the global economic downturn revealed an unprecedented international effort to prop up economic growth and employment. Government stimulus plans focused investment in the following categories: renewable energy electricity grids, mass transit, low-carbon vehicles, building efficiency and environmental conservation, as well as education and healthcare.
