ACCA has announced it is partnering with Ethics and Trust in Finance for a Sustainable Future for an eighth edition of its global prize.
Through the partnership, ACCA will partake in a roundtable discussion that will “explore the role of ethics and trust in shaping a more sustainable and resilient financial system for the post-pandemic world”.
The Ethics and Trust in Finance prize was first launched in 2006. It offers under-35s, who work or study finance, an opportunity to “reassess” the role of financial institutions, and how they can “provide a meaningful response to the changing needs of the communities in which they operate”.
The eighth edition of the competition will also encourage candidates to reimagine how financial institutions can “balance the desire for growth, security and stability for the post-pandemic world”.
It invites creative papers that set out analyses or proposals for ways to promote ethics and trust in finance, with a jury allocating $200,000 (£164,000) among the winners.
The prize is organised by the Observatoire de la Finance, and supported by the CFA Institute, Euroclear, Swift and Swift Institute and Pictet Group, as well as ACCA.
In a statement, ACCA said: “Such insights are made necessary and urgent by the recurring financial crises over the last decades, the mounting challenge of climate change and the current pandemic which has already triggered considerable financial stress and plunged the world in a major economic and social crisis.
“The general theme of ethics and trust in finance has a pivotal role to mitigate the negative effect of such crises.”
Helen Brand OBE, chief executive of ACCA, added: “As global business looks to how it can reconstruct post the pandemic, it’s clear that care for, and responsibility to, each other and the world we share will be of paramount importance.
“Thinking deeply about this and re-building in a way that benefits all in society has never been more vital and it makes this prize even more relevant and resonant.”
Entries for the prize will go live on 2 June, with a closing date for the submission of essays on 31 May 2021.