The Importance of Climate Risks for Institutional Investors

Philipp Krueger, Z. Sautner, L. Starks
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引用次数: 690

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.
气候风险对机构投资者的重要性
根据我们对气候风险认知的调查,机构投资者认为气候风险对其投资组合公司有财务影响,这些风险,特别是监管风险,已经开始成为现实。许多投资者,尤其是长期的、规模较大的、以esg为导向的投资者,认为风险管理和参与,而不是撤资,是应对气候风险的更好方法。尽管接受调查的投资者认为,一些股票估值没有完全反映气候风险,但他们认为的高估幅度并不大。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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