This paper explores the effect of a firm's reputation of being a green bond issuer on its financing costs. Using a … vis-à-vis frequent non-green bond issuing on a firm's cost of capital and credit rating. The paper argues that it is … repetitive issuance which lowers a firm's cost of capital, while the effects from first or one-time green bond issuance is the …

We examine the novel phenomenon of sustainability-linked bonds (SLBs). These bonds’ coupon is contingent on the issuer … achieving a predetermined sustainability performance target. We estimate the yield differential between SLBs and non … -9 basis points on the yield at issue compared to a conventional bond, although this premium decreased over time. On …

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 …

This study investigates the growing importance of sustainability in financial markets by estimating the extent of … capitalisation of companies' commitment to sustainability on their market value. The spreading concern for social and environmental … issues, and especially for the material risks of climate change, induces policymakers to prioritise sustainability issues …