Is There Morality in Personal Finance?

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July 27, 2013 by apicomely

EU finance arm curbs loans to coal-fired power plants

IBM William Fuessler, global financial strategy and transformation leader for IBM Global Business Services. CFOs need to make sure that their organizations are ready to respond to these requests. They need to develop plans for hiring and training staffers. They need to be ready to advise other departments about who to hire to make use of this emerging technology. Most of all, the CFO has to help create a culture in which managers habitually use predictive analytics to make decisions rather than relying on experience and gut instinct alone.

I stopped feeling sorry for myself, he told me. I wanted to go out to eat, and I couldn’t. I took responsibility for my past actions and stopped pitying myself, because when I pitied myself, I’d give in and just get into more debt. Taking responsibility is the key lesson here, and it’s a virtuous one that can definitely be applied to other aspects of life. We could go on, but the point is, there are lots of money lessons that are also moral lessons that help with life overall. Frugality as a virtue Ben Franklin really found the virtue in frugality.

Hundred Dollar Bills Cash Money Currency

But you have a lot more to worry about than simply landing a job; you also have to learn what it takes to thrive in your career. It often comes down to one intrinsic element: passion. You either have it or you don’t–it’s the fuel necessary for driving your career forward, staying ahead, and ultimately finding long-term success. Recently, I spoke with Edie Hunt , Chief Diversity Officer and former Head of Talent Management at Goldman Sachs.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

The EU lender also said it could tighten the emissions standard in the future to ensure its lending criteria are consistent with EU climate policy and create jobs across Europe. The EIB decision follows moves by other multilateral financial institutions such as the Washington-headquartered World Bank to fund coal-fired power stations only in “rare circumstances”. Since the start of 2007, the EIB has loaned around 11 billion euros ($14.5 billion) to fossil fuel-fired plants, most of it to gas rather than coal, out of its total lending for power of 83 billion euros. “The vote to introduce an emissions performance standard represents a step-change in the EU’s fight against climate change and puts the bankers ahead of politicians in terms of tangible action,” said Ingrid Holmes, of environmental think tank E3G in a statement. She added: “With several directors pushing for 450 gCO2/kWh at the meeting, I’d expect to see it tightened further over the next 12 months as the politics of the EU’s broader approach to 2030 (carbon emissions) targets is settled.” An emissions cap of 450 g/KWh would mean that older, inefficient gas plants would also be ineligible for funding.


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