ESSEC - Amundi Chair on Asset & Risk Management

WEBINAR

Climate Risk and the Bond Market

June 14, 2022

Financial theory assumes that firms aim at maximizing profit or risk-adjusted return to equityholders. Yet, over the last decades, this objective has been extended to include non-financial considerations such as ESG criteria. Regulators and investment managers have been promoting the fact that sound ESG policies are consistent with value maximization.

A related concern is whether the type of ownership impacts on firms' ESG performances? This webinar examines this important question. In a first paper, A. Bellon focuses on private equity ownership and its impact on toxic chemicals emissions. The second paper presented by M. Riggenberg examines whether SRI funds select firms which have a good environmental performance or whether they work at improving the ESG behavior of firms in their portfolio. Their findings represent a clear contribution to the expanding literature on sustainable finance.

Program:

16.30 - 17.15: "Does Private Equity Ownership Make Firms Cleaner: The Role of Environmental Liability Risks“ - Aymeric Bellon (University of Pennsylvania)

17.15 - 18.00: "Does Socially Responsible Investing Change Firm Behavior?" - Matthew Ringgenberg (University of Utah)