Affiliation:
1. University of Geneva and Swiss Finance Institute
2. Frankfurt School of Finance & Management
3. McCombs School of Business, University of Texas at Austin
Abstract
Abstract
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 regulatory risks, already have begun to materialize. Many of the investors, especially the long-term, larger, and ESG-oriented ones, consider risk management and engagement, rather than divestment, to be the better approach for addressing climate risks. Although surveyed investors believe that some equity valuations do not fully reflect climate risks, their perceived overvaluations are not large.
Publisher
Oxford University Press (OUP)
Subject
Economics and Econometrics,Finance,Accounting
Reference88 articles.
1. Temperature shocks and establishment sales;Addoum,;Review of Financial Studies
2. Why and how investors use ESG information: Evidence from a global survey;Amel-Zadeh,;Financial Analysts Journal,2018
3. Hedging climate risk;Andersson,;Financial Analysts Journal,2016
4. Governance and climate change: A Success story in mobilizing investor support for corporate responses to climate change;Andersson,;Journal of Applied Corporate Finance,2016
Cited by
803 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献