Koen De Vidts - Moral agency & finance

Question 1

Different ethical schools and their related concepts - virtue ethics

Answer 1

Virtue ethics emphasizes moral character and the cultivation of good character traits (virtues) rather than rules or consequences in ethical decision-making. It’s a philosophical approach that focuses on who we are as people, rather than on what we do or what the outcomes are.

Question 2

Basic definitions moral, ethics & integrity

Answer 2

Moral= what we consider good/bad
Ethics= study of the morals.
Integrity= expectations (formal/legal…) of what is good and what is wrong (box ticking)

Question 3

Different ethical schools and their related concepts - duty ethics

Answer 3

Duty-based ethics teaches that some acts are right or wrong because of the sorts of things they are, and people have a duty to act accordingly.
Deontological (duty-based) ethics are concerned with what people do, not with the consequences of their actions. Do the right thing. Do it because it’s the right thing to do. Don’t do wrong things.

Question 4

Different ethical schools and their related concepts - consequentialism

Answer 4

Consequentialism is an ethical theory that judges whether or not something is right by what its consequences are. For instance, most people would agree that lying is wrong. But if telling a lie would help save a person’s life, consequentialism says it’s the right thing to do.

utilitarianism
Utilitarianism is an ethical theory that determines right from wrong by focusing on outcomes. It is a form of consequentialism. Utilitarianism holds that the most ethical choice is the one that will produce the greatest good for the greatest number.

Question 5

Different ethical schools and their related concepts - justice

Answer 5

Justice as fairness (think about cake cutting)
In equal circumstances, equal treatment, maximize the minimum.

!:The “veil of ignorance” is a philosophical thought experiment used to promote impartial decision-making and fairness in the design of social and political systems

Question 6

Different ethical schools and their related concepts - ethics of care

Answer 6

a moral theory that centers on interpersonal relationships and the virtue of care, often emphasizing emotions, empathy, and the interconnectedness of human beings. Arguing that care and relationships are fundamental to moral action.

Question 7

Different ethical schools and their related concepts - process-ethics

Answer 7

a collaborative approach to ethics where ethical decisions are co-created within relational contexts
-> What those involved agree on, is by defition morally right
! ethics of dialogue!

Question 8

Different ethical schools and their related concepts - ethics of dialogue

Answer 8

!! 4 criteria:
* Participation rule: every relevant stakeholder must be present
* Sincerity
* Symmetry rule: everyone has an equal chance to contribute to the
dialogue
* No compulsion (external or internal)
But perfection is impossible!

Question 9

Different ethical schools and their related concepts -deontology

Question 10

Responsibility, upstream and downstream responsibility

Question 11

Wheel of norms (make sure that you can apply the different concepts within the wheel; it is not required to list all the components of the wheel)

Answer 11

See picture page 70

Question 12

Role of emotions

Answer 12

emotions are telltale signs of threatened values
‘What values do they fear will be damaged?’

Question 13

Double materiality

Answer 13

Double materiality in the context of sustainability reporting and ESG refers to a framework that considers both impact materiality (how a company impacts the world) and financial materiality (how sustainability issues impact the company’s financial performance). It recognizes that a company’s financial performance is not only influenced by financial factors but also by its environmental and social impacts.