According to classic economic views of social responsibility as esposed by Milton Friedman, one would expect markets to penalize companies for undertaking social or environmental initiatives beyond minimal compliance with legal requirements, because such activities arguably may divert a firm's...

We assess how sustainable finance literacy affects people's sustainable investment behavior, using a pre-registered experiment. We find that an increase in sustainable finance literacy leads to a 4 to 5% increase in the probability of investing sustainably. This effect is moderated by...

We gather extensive global price and volume information to establish that exhaustible mineral commodities are both affordable and abundant. On average, we extract a kilogram of mineral for every 5$ of GDP, at a cost of 1⁄4$. We predict that economic growth will progressively decouple from...

In order to achieve the internationally agreed climate objectives, a transition towards a more sustainable economy is required. As part of this transition, a new range of financial products is being designed including green bonds, climate benchmarks and sustainability-linked derivatives. It...

Corporate Social Responsibility (CSR) refers to the incorporation of Environmental, Social, and Governance (ESG) considerations into corporate management, financial decision making, and investors' portfolio decisions. Socially responsible firms are expected to internalize the externalities (e.g....

We study the design features of disclosure regulations that seek to trigger the green transition of the global economy and ask whether such regulatory interventions are likely to bring about sufficient market discipline to achieve socially optimal climate targets. We categorize the transparency...

Environmental, Social and Governance (ESG) investing has been one of the most important topics in asset management this past decade. Yet, for all the attention, only a fraction of asset managers truly consider ESG issues when making investment decisions. This is partly due to the perceived...

We study the design features of disclosure regulations that seek to trigger the green transition of the global economy and ask whether such regulatory interventions are likely to bring about sufficient market discipline to achieve socially optimal climate targets. We categorize the transparency...