This paper examines ethics in finance, specifically related to responsible investment. In recent years, socially responsible principles are becoming the de facto standard not only for socially responsible but also for profitable investing. For instance, the United Nations developed the Principles for Responsible Investment (PRI) in 2006, which require institutional investors to incorporate ESG (Environmental, Social and Governance) issues into investment analysis and decision-making processes. This raises the following question: can responsible investments be justified from an ethical point of view? (...) In this paper I first explain responsible investments. Then, I turn to the ethical foundation of responsible investments. There are two arguments for responsible investments. I argue that both fail. Therefore, my conclusion is that the ethical foundation of responsible investments is not firm. (shrink)

We present some ideas on logical process descriptions, using relations from the DIO (Drug Interaction Ontology) as examples and explaining how these relations can be naturally decomposed in terms of more basic structured logical process descriptions using terms from linear logic. In our view, the process descriptions are able to clarify the usual relational descriptions of DIO. In particular, we discuss the use of logical process descriptions in proving linear logical theorems. Among the types of reasoning supported by DIO one (...) can distinguish both (1) basic reasoning about general structures in reality and (2) the domain-specific reasoning of experts. We here propose a clarification of this important distinction between (realist) reasoning on the basis of an ontology and rule-based inferences on the basis of an expert’s view. (shrink)