Sustainable finance: a journey toward ESG and climate risk

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 m
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.
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Author:Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino, Loriana Pelizzon
URN:urn:nbn:de:hebis:30:3-646023
URL:https://ssrn.com/abstract=4093838
DOI:http://dx.doi.org/10.2139/ssrn.4093838
Parent Title (English):SAFE working paper ; No. 349
Series (Serial Number):SAFE working paper series (349)
Publisher:SAFE
Place of publication:Frankfurt am Main
Document Type:Working Paper
Language:English
Year of Completion:2022
Year of first Publication:2022
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2022/05/04
Tag:Environmental, social, and governance factors (ESG); credit risk; debt cost; equity cost; portfolio management; sovereign bonds
Issue:April 26, 2022
Pagenumber:61
Note:
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.
Institutes:Wirtschaftswissenschaften
House of Finance (HoF)
Sustainable Architecture for Finance in Europe (SAFE)
Dewey Decimal Classification:330 Wirtschaft
JEL-Classification:G11 Portfolio Choice; Investment Decisions
G24 Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies (Updated!)
M14 Corporate Culture; Social Responsibility
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht

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