全球智库信息集成服务系统(G2TT): DP17430 Green versus sustainable loans: The impact on firms' ESG performance

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP17430
	DP17430 Green versus sustainable loans: The impact on firms' ESG performance
	Özlem Dursun-de Neef; Steven Ongena; Gergana Tsonkova
发表日期	2022-07-03
出版年	2022
语种	英语
摘要	This paper studies the development of a firm's Environmental, Social, and Governance (ESG) performance following the issuance of "green loans" earmarked for green projects versus "sustainable loans" to firms bench-marked by ESG criteria. Firms issuing green loans appear to be effective in shrinking their environmental emissions; however, they weaken in social performance indicated by a decrease in their human rights, community, and product responsibility scores. This implies that they prioritize their environmental goals, yet neglect their commitment towards their clients and society. Sustainable loans, on the other hand, we find to incentivize firms to improve their ESG performance by increasing their environmental and governance scores. Thus, the issuance of a sustainable loan surely precedes (and may consequentially signal) subsequent improvements in a firm's overall ESG performance.
主题	Financial Economics
关键词	Green loans Sustainability linked loans Environmental Social And governance (esg) performance Sustainable finance
URL	https://cepr.org/publications/dp17430
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/546514
推荐引用方式 GB/T 7714	Özlem Dursun-de Neef,Steven Ongena,Gergana Tsonkova. DP17430 Green versus sustainable loans: The impact on firms' ESG performance. 2022.