In this article, we review the literature studying interactions between climate change and
financial markets. We first discuss various approaches to incorporating climate risk in …

The green bond market is emerging as an impactful financing mechanism in climate change
mitigation efforts. Studies investigating this market have revealed the notion of a 'green …

In this address, I discuss differences across investor and manager motivations for
considering sustainable finance—value versus values motivations—and how these …

Green assets delivered high returns in recent years. This performance reflects unexpectedly
strong increases in environmental concerns, not high expected returns. German green …

As sustainable investing becomes central to capital allocation in many markets, the
Environmental, Social and Governance (ESG) metrics and scores have become of critical …

We survey 861 finance academics, professionals, and public sector regulators and policy
economists about climate finance topics. They identify regulatory risk as the top climate risk …

We investigate whether environmental, social, and governance (ESG) ratings predict future
ESG news and the associated market reactions. We find that the consensus rating predicts …

This paper investigates how green credit regulation affects firms' loan conditions and their
economic and environmental performance. In a simple theoretical model, with strengthened …

We propose a theory in which each stock's environmental, social, and governance (ESG)
score plays two roles:(1) providing information about firm fundamentals and (2) affecting …

According to our survey about climate risk perceptions, institutional investors believe climate
risks have financial implications for their portfolio firms and that these risks, particularly …