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 …

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 …