In this address, I discuss differences across investor and manager motivations for
considering sustainable finance—value versus values motivations—and how these …

Using micro-level data, we examine the behavior of socially responsible investment (SRI)
funds. SRI funds select firms with lower pollution, more board diversity, higher employee …

Climate change poses new challenges for portfolio management. In our not-yet-low carbon
world, investors face a trade-off between minimizing their exposure to climate risks and …

Environmental and social (ES) funds in non-ES families must balance incorporating the
stakeholders' interests they advertise and maximizing shareholder value favored by their …

EU securities regulation has established a taxonomy of environmentally sustainable
activities. This article discusses, from a law and economics standpoint, the potential of this …

An important debate exists around the extent to which retail investors make sustainable
investments and, if they do, why. We contribute to this debate by investigating the aggregate …

We propose a precise definition of greenwashing in asset management that combines ESG
self-labels, sustainability scores of portfolio holdings, and funds' voting behavior. Armed with …

We find that firms reduce toxic emissions at their local plants following EPA enforcement
actions against nearby plants operated by peer firms that compete in the same product …

We construct novel measures of mutual funds' environmental, social, and governance (ESG)
commitment by analyzing the discretionary investment-strategy descriptions of their …

We explore the relationship between US mutual fund managers' incentives to deliver high
returns and their portfolio Environmental, Social, and Governance (ESG) performance …