phbs
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
Green Tilts
2023-05-22 11:26:51
We estimate financial institutions' portfolio tilts that relate to stocks' environmental, social, and governance (ESG) characteristics.  We find ESG-related tilts totaling 6% of the investment industry's assets under management in 2021.  ESG tilts are significant at both the extensive margin (which stocks are held) and the intensive margin (weights on stocks held).  The latter tilts are larger.  Institutions divest from brown stocks more by reducing positions than by eliminating them.  The industry tilts increasingly toward green stocks, but only among the largest institutions.  Other institutions and households tilt increasingly toward brown stocks. UNPRI signatories tilt greener; banks tilt browner.
phbs phbs phbs

CONTACT US

phbs Peking University HSBC Business School(PHBS) University Town, Nanshan District Shenzhen 518055, P.R.China
phbs 0755-26033642
phbs int.admission@phbs.pku.edu.cn
COPYRIGHT @ 2020 PHBS · Guangdong-ICP prepared No.12081285