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In the race against climate change, financial intermediaries hold a key role in rapidly redirecting resources towards greener economic activities. However, this transition entails a dilemma for banks: entry of innovative and green firms in polluting industries risks devaluating legacy positions...
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The relatively new world of ESG indicators displays many similarities with the original markets for ratings and … developed in ‘traditional’ financial law to support confidence in ratings and benchmarks can be exported to the ‘new’ world of … ESG finance. It concludes that policymakers should be cautious when transposing rules from the ‘old world’ to the ‘new …
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