On November 21, 2025, the Desautels Faculty of Management鈥檚 Laidley Centre for Business Ethics and Equity (LCBEE) hosted its third annual Business Ethics Conference, bringing together thought leaders to explore the theme Ethics in Finance. Opening the event, Nikita Boston-Fisher, Associate Director of the Laidley Centre, framed the day鈥檚 discussions:
鈥淓thical finance is about cultivating a system where financial institutions serve not only their clients, but the broader community鈥� Today, we gather to explore what that vision looks like in practice.鈥�
Finance and sustainability: Capital in the Anthropocene
The first panel, moderated by Professor Hongping Tan, examined the intersection of finance and sustainability. Toby Heaps, CEO of Corporate Knights, highlighted the urgency of accelerating renewable energy investment. While global investments in renewables currently double those in fossil fuels, Heaps stressed that the ratio must reach 4:1 to meet climate goals. Encouragingly, he noted, 鈥淲e鈥檙e in a position of momentum.鈥� S茅bastien Labelle, Vice President at Canada Development Investment Corporation (CDIC), explained how government concessionality enables deals that prioritize public policy objectives鈥攕uch as environmental protection and Indigenous equity ownership鈥攐ver maximum profit. Begum Ipek Yavuz, Assistant Professor of Finance at Desautels, shared research on investor influence in corporate sustainability. Through voting and engagement, investors encourage companies to disclose climate risks, shaping sustainable practices across industries. Together, these perspectives offered a comprehensive view of sustainable finance through the lenses of global markets, government policy, and investor action.
Finance and equity: Capital, access, and accountability
The second panel, moderated by Professor Francesca Carrieri, explored equity in financial decision-making and resource allocation. Andrea Nicholls, CFO at Dentons, reminded attendees that finance exists in every organization鈥攏ot just banks. Decisions about resource allocation reflect who holds power. Her advice was simple yet powerful: 鈥淟ook at their senior management鈥攄oes it look diverse?鈥� Sabaa Quao, Co-founder of Wealthie Works Daily, underscored the slow pace of progress on diversity, equity, and inclusion (DEI). Current projections suggest 120 years for gender pay equity and 320 years for racial pay equity. His warning was clear: 鈥淣othing today is disruptive enough.鈥� Vanessa Lewerentz, Chief Inclusion Officer at BMO Financial Group, emphasized that diversity is about metrics, while inclusion is about action. True DEI means aligning words with deeds鈥攂ecause, as she put it, finance is 鈥渢he invisible architect of reality.鈥� This discussion highlighted the urgency of systemic change and accountability in financial leadership.
Finance and social responsibility: Beyond the bottom line
The final panel, moderated by Professor Paul Beaumont, tackled the complexity of ethics and social responsibility in finance. Jasmine Tsang, Deloitte Canada Risk Partner and Ethics Officer, noted that most investors lack the time or expertise to analyse lengthy financial statements. Instead, trust becomes the guiding principle鈥攖rust built when institutions鈥� actions match their words. Melanie Adams, Managing Director and Head of Responsible Investment at RBC Global Asset Management, addressed the ambiguity of ethical responsibility. Rather than imposing values, RBC works to reflect clients鈥� priorities, acknowledging that ethics is not one-size-fits-all. Professor Sebastien Betermier explored fiduciary duty and ESG metrics. There is no universal standard, he explained, and that diversity of metrics allows investors to focus on what matters most to them. This panel left participants with more questions than answers鈥攗nderscoring the complexity of defining social responsibility in finance.
Closing reflections
Lindsay Holmgren, Director of the Laidley Centre, concluded by affirming the importance of dialogue: 鈥淎n education in ethics has to help people think through their commitments and, above all, enhance our capacity for civil discourse.鈥�
The 2025 Business Ethics Conference achieved exactly that鈥攕parking conversation and deepening understanding of what ethical finance means in practice.
Recordings of the conference proceedings are available on , and those interested in staying informed can join the LCBEE or follow the Centre on .
Photo (From left to right): Nikita Boston-Fisher, Francesca Carrieri, Andrea Nicholls, Sabaa Quao, Vanessa Lewerent and Lindsay Holmgren.
Laidley Centre for Business Ethics and Equity (LCBEE)
The centre is 51吃瓜网鈥檚 central hub supporting ethical decision-making in business through teaching, academic research and community engagement.
The Laidley Centre looks forward to facilitating more connections and conversations that center ethics and equity.
