TY  - UNPD
A1  - Billio, Monica
A1  - Costola, Michele
A1  - Hristova, Iva
A1  - Latino, Carmelo
A1  - Pelizzon, Loriana
T1  - Sustainable finance: a journey toward ESG and climate risk
T2  - SAFE working paper ; No. 349
N2  - The present paper proposes an overview of the existing literature covering several aspects related to environmental, social, and governance (ESG) factors. Specifically, we consider studies describing and evaluating ESG methodologies and those studying the impact of ESG on credit risk, debt and equity costs, or sovereign bonds. We further expand the topic of ESG research by including the strand of the literature focusing on the impact of climate change on financial stability, thus allowing us to also consider the most recent research on the impact of climate change on portfolio management.
T3  - SAFE working paper - 349 
KW  - Environmental, social, and governance factors (ESG)
KW  - credit risk
KW  - debt cost
KW  - equity cost
KW  - sovereign bonds
KW  - portfolio management
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/64602
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-646023
UR  - https://ssrn.com/abstract=4093838
N1  - The authors acknowledge the financial support of European Investment Bank (EIB) for the project “ESG-Credit.eu - ESG Factors and Climate Change for Credit Analysis and Rating”. Carmelo Latino and Loriana Pelizzon gratefully acknowledge research and financial support from the Leibniz Institute for Financial Research SAFE, Frankfurt.
IS  - April 26, 2022
PB  - SAFE
CY  - Frankfurt am Main
ER  -