可持续性标签很重要

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-12-09 DOI:10.1016/j.frl.2024.106609

Christopher Kolling, Timo Busch

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引用次数: 0

摘要

我们调查持有可持续发展标签的基金是否比未标记的基金表现出更好的可持续发展绩效。我们选取了150多家获得“丰丰”标签的公共股票基金作为样本，评估了它们在碳排放、可持续发展目标得分和ESG评级方面的表现。我们使用匹配方法将有标签的基金与不同的对照组进行比较，即传统的对照组和没有标签的可持续的对照组。结果表明，标签基金具有优越的可持续性属性，特别是在碳排放和可持续发展目标贡献方面。然而，传统的ESG分数（在我们的案例中主要关注财务重要性）的差异不那么明显。

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Sustainability labels matter

We investigate whether funds holding a sustainability label, exhibit better sustainability performance compared to unlabeled funds. Using a sample of over 150 public equity funds awarded the FNG-Label, we assess their performance regarding carbon emissions, SDG scores, and ESG ratings. We use matching methods to compare labeled funds with different control groups, namely conventional as well as with sustainable peers without a label. The results show that labeled funds have superior sustainability attributes, particularly in terms of carbon emissions and SDG contributions. However, the differences in classical ESG scores, which in our case focus on financial materiality, are less pronounced.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance