Do banks charge an environmental premium when lending to publicly listed firms? Using CDP's unique and comprehensive database on carbon emissions, we study whether firms which choose to voluntarily disclose their carbon emissions enjoy more favorable lending conditions than their non-disclosing...

Banks play a role in the corporate governance of firms as well as acting as debt financiers around the world. Universal banks can have control over borrowing firms by representation on the board of directors or by holding shares through direct stakes or institutional holdings. We investigate the...