This study documents a significant and positive impact of country-level sustainability scores on cross-border bank-to-nonbank flows. This result is robust after mitigating endogeneity concerns by applying instrumental variable regression, generalized method of moments estimation, Fama-MacBeth...

Banks might now seem odd candidates for the role of global sustainability regulator. Nonetheless, in limited areas of their operation, where global banks kept risk on their balance sheets and were financially exposed to many types of risk often otherwise treated as “externalities,” banks...

Global banks play intermediary and even direct roles in achievement of the UN Sustainable Development Goals (SDGs). However, developmental progress is complex to measure due to siloed, varied and even non-transparent, ambiguous, non-standardized ways of calibration and reporting. This research...