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SFG will award the most innovative paper on December 7th at the
 Geneva Summit on Sustainable Finance
one of Europe's biggest event where policy markers, leaders in academia, the finance industry and civil society gather to help shape the future of sustainable finance.

12 out of almost 100 academics' and practitioners' papers will be presented at the summit.

VOTE FOR THE MOST INNOVATIVE PAPER 
out of three selected by SFG by December 3rd.
 
VOTE HERE - PAPER 1

CORPORATE GREEN BONDS

This study documents that the issuance of corporate green bonds has become more prevalent over time, particularly in industries where the natural environment is financially material.
 
The results shows that green bonds yield: positive annoucement returns, improvements in long-term value and operating performance, improvements in environmental performance, increases in green innovations and an increase in ownership by long-term and green investors. Overall, green bonds are effective - companies invest the proceeds in projects that improve the company’s environmental footprint and contribute to long-term value creation and help attract an investor clientele that is sensitive to the environment.

Will be presented by Caroline Flammer - Boston University
VOTE HERE - PAPER 2

EXPORTING POLLUTION 

This study helps shedding light on the effectiveness of countries' environmental laws and enforcement, as well as how firms responds to these policies
 
Despite the awareness of the detrimental impact of CO2 pollution on world climate, countries vary widely in how they design and enforce environmental laws. Using novel micro data about firms' CO2 emission levels in their home and foreign countries the authors document that firms headquartered in countries with strict environmental policies perform their polluting activities abroad, in countries with weak policies.

Will be presented by Michael Viehs - University of Oxford, Hermes Investment Management
VOTE HERE - PAPER 3

BEING STRANDED ON THE CARBON BUBBLE? Climate Policy Risk and the Pricing of Bank Loans

This study adresses the question : Does neglecting the possibility that fossil fuel reserves become “stranded” result in a “carbon bubble”, i.e., an overvaluation of fossil fuel firms?

The authors study whether banks price the climate policy risk. They hand collect global data on corporate fossil fuel reserves, match it with syndicated loans, and subsequently compare the loan rate charged to fossil fuel firms — along their climate policy exposure — to non-fossil fuel firms. Results shows that since 2015 banks price climate policy risk especially for firms holding more fossil fuel reserves and some evidence shows that “green banks” charge marginally higher loan rates to fossil fuel firms.

Will be presented by Kathrin De Greiff - University of Zurich, Swiss Finance Institute
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Organised by the Geneva Finance Research Institute together with Sustainable Finance Geneva and the Swiss Finance Institute, the Summit, held at the Geneva International Conference Centre, provides a knowledge platform in this increasingly important field, highlighting innovative and cutting edge trends and helping to build a growing sustainable finance community in Europe and beyond. 

Sustainable Finance Geneva
50 Avenue de la Praille, 1227 Carouge
022 525 50 60  info@sfgeneva.org
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