Assess the pay packages of chief executives from the perspective of justice theories.

e theories. Is the main objection one of distributive justice

(executives get more than they deserve or are rewarded when other deserving parties are not), or procedural justice (in that the mechanism
for executive remuneration is not fair)?

Procedural justice concerns the fairness and the transparency of the processes by which decisions are made, and may be contrasted
with distributive justice (fairness in the distribution of rights or resources), and retributive justice(fairness in the punishment of wrongs.
Procedural justice deals with the perceptions of fairness regarding outcomes. It reflects the extent in which an individual perceives that
outcome allocation decisions have been fairly made. Distributive justice concerns about fair outcomes and whether equity is maintained. In
case the CEOs pay package is assessed with respect to distributive justice theory, then one may argue why the CEOs are paid high even in
times of financial crisis or poor performance of the company.

How do these four arguments correspond to the traditional ethical theories set out in chapter three?

The 4 arguments may be correlated to the traditional ethical theories as below:

Fairness: This can be related to procedural justice. Non-consequential
Misappropriation of property: Insider trading can be viewed reduction of welfare (utilitarianism) and goes against an ethics of duty. This has
consequentialist elements
Harm to investors and the market: Same as Misappropriation of property resulting in decline of overall welfare.
Undermining of fiduciary relationship: Insider trading actually ensures that shareholders donot maximize their profit and self-interest and goals.
This has the consequentialist argument.

How could the ethical theories set out in chapter 3 help an investment fund manager to determine positive and negative criteria? Take an
example from Figure 6.4 and make your case by using some of the normative ethical theories.

Ethical theories provide guidance to the fund manager seeking to determine positive and negative criteria for socially responsible investment.
Examples are cited from Fig 6.4 as below.

Positive criterion: green technologies : From utilitarian perspective, use of green technologies is morally correct because it help in larger
economic benefit with reduced resources which benefits larger section of the society.
Negative criterion: poor employment practices.

Ethics of duties perspective views poor employment practices as incorrect, because they ignore human values and dignity and are treated
merely as resource to meet the objectives.
Poor employment practices are also not morally right because one may argue how such practices promote collective welfare.

2. How would you evaluate BP's approach to the social, environmental and economic impacts of theproject for local communities? Assess
the approach from the perspective of utilitarianism anddeontology first. Will the assessment differ from the rights and justice based
perspective?


BP has been a known as a company for its efforts and measures with respect to renewable energy, climate change, human rights, corruption
prevention, and health and safety, among others. BP set up a "Regional Sustainability Development Program (RSDP)" to proactively address
critical social, ethical and environmental issues:

Environmental Investment Programme which aimed at dealing with ecological issues. Community Investment Programmme with a budget of
about $20mn and mostly addressing social issues during the construction phase. Regional Development Initiative with has a budget of about
$25mn and designed to accompany the project over a 10 year life span after its opening
From a utilitarianism and Deontological perspective, BP took initiatives that led to fairly immediate impacts. It proactively addressed social,
ethical and environmental issues. From the perspective of Rights and Justice, the company was alleged for violating human rights and indulging
in corrupt practices.



4. What is the appropriate way for BP to respond to its ongoing criticism? Base your answer on the contemporary ethical theories, in
particular virtue ethics, discourse ethics, and postmodern ethics.

BP can probably emphasize on the fact that it has been one of the most socially responsible company around, thus implying that it would never
go against the broader social good neither disturb the environmental balance. It should also defend itself by pointing out that the BTC pipeline
will generate income for the country, employment opportunities and will help in meeting the increasing demand. Being a responsible
organization, BP should let people know that it is taking all precautionary measures to avoid disasters like oil spillage, water pollution and also
taking initiatives in preserving environment and working towards the larger benefit of the society.