We investigate whether and how the environmental consciousness (greenness for short) of firms and banks is reflected in the pricing of bank credit. Using a large international sample of syndicated loans over the period 2011-2019, we find that green banks indeed reward firms for being green in...

The greening of business is now widely recognized as firms take the lead from reluctant governments in making sustainable operations profitable. The greening of business may be contrasted with the "business of greening" - in the sense that greening may be associated with the emergence of smart...