Similar Search Results

Antoniou, Fabio; Delēs, Manthos D.; Ongena, Steven; … - 2020

Effective environmental policy should consider how the financiers of polluting firms behave. In our theoretical model describing the periods before and after policy implementation, loan spreads for firms participating in cap-and-trade programs are a function of the costs of compliance, the...

Persistent link: https://www.econbiz.de/10012421274

Green versus sustainable loans : the impact on firms' ESG performance

Dursun-de-Neef, Özlem; Ongena, Steven; Tsonkova, Gergana - 2022 - This draft: May 20, 2022

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 … other hand, we find to incentivize firms to improve their ESG performance by increasing their environmental and governance …

Persistent link: https://www.econbiz.de/10013202785

ESG and systemic risk

Aevoae, George; Andrieş, Alin Marius; Ongena, Steven; … - 2022

How do changes in Environmental, Social and Governance (ESG) scores influence banks’ systemic risk contribution? We … document a beneficial impact of the ESG Combined Score and Governance pillar on banks’ contribution to system-wide distress … findings stress the importance of integrating banks’ ESG disclosure into regulatory authorities’ supervisory mechanisms as …

Persistent link: https://www.econbiz.de/10013169195

Being stranded on the carbon bubble? : climate policy risk and the pricing of bank loans

Delēs, Manthos D.; Greiff, Kathrin de; Ongena, Steven - 2018

Do banks price the risk of stranded fossil fuel reserves? To address this question, we 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...

Persistent link: https://www.econbiz.de/10011877241