Environmental disasters are thought to increase the focus on corporate sustainability in the communities where they occur. Extracting data on wildfires (a frequent type of disaster in the U.S.) and using ESG ratings and EPA air enforcement actions to construct measures of local corporate...

What is the impact of environmental consciousness (i.e., being green) as borrower and as lender on loan rates? We investigate this question employing an international sample of syndicated loans over the period 2011-2019. We find that green firms borrow at a signifi- cantly lower spread,...

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...

We develop a rational, long-horizon model in which investments may damage future production/consumption possibilities through their impact on the climate. Within this framework, we show that the optimal investment consists of four funds: i) the risk-free asset; ii) a myopic portfolio; iii) a...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature's conclusion on the effectiveness of suchprograms is ambiguous, and for the European region there is a lack of evidence based on a large control...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature’s conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature's conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large control...

This study evaluates the extent to which firms acknowledge climate change and communicate credible climate change mitigation and adaptation strategies in their environmental sustainability reports. We assess the credibility of firms' strategies by retrieving domain knowledge using Linked Data...

European Union (EU) institutions and agencies are increasingly raising awareness on the circular economy agenda. They are encouraging marketplace stakeholders to engage in sustainable production and consumption behaviors by reducing, reusing, restoring, refurbishing and recycling resources in...

Prior research suggests a positive link between corporate governance and corporate social responsibility (CSR). Environmental activities play an important role in a company’s CSR activities. This study finds that corporate governance is positively associated with environmental performance, and...